Shopping for a new home will soon become a colourful and varied event in Bangkok.
Most of the leading property developers, condident of a significant property-market recovery, plan to launch new projects worth nearly Bt100 billion in the final months of the year.
A survey by The Nation last week found the market leaders preparing strategies for a second half in which many are expecting renewed demand, combined with conditions strongly favouring buyers, that will give them strong financial growth this year after fears only six months ago of a year of inordinate difficulty.
For example, both Supalai and Sansiri well launch nine new residential projects in the second half, including condominiums and low-rise resindences worth up to Bt10 billiion for each company. Sansiri's nine new projects will follow 10 residential projects in the first half.
Preuksa Real Estate plans to launch 23 residential projects worth Bt15 billion in the next four-and-a-half months, boosting its revenue to a target of Bt17 billion for the year and annual presales reaching Bt18 billion. Preuksa launched only six new projects in the first half.
Land & Houses plans to launch five new residential projects worth Bt6 billion in the coming months after launchine seven residential projects in the first half.
Asian Property Development is planning six new residential projects worth Bt12.57 billion. Two of them will be low-rise projects worth Bt3.17 billion and the rest condominiums worth Bt9.4 billion.
Property Perfect plans eight new residential projects worth nearly Bt10 billion in the second half, and LPN Development says it will launch three new condominiums worth Bt6 billion by year-end after successfully preselling three condominiums in the first six months.
SC Assset plans to launch six new residential projects worth Bt4 billion in the next five months. Supalai president Pratheep Tangmatitham believes that in the second half, the property market will recover from its recent slump. This is proven by his company's second-quarter financial results showing revenue of Bt2.56 billion for a net profit of Bt686 million, up by 16 per cent and 44 per cent, respectively, year on year.
"Our products have received positive feedback from the market, so we'll launch nine new residential projects in the second half," he said.
Sansiri president Srettha Thavisin said his company had revised its business plan from launching 16 residential projects this year to 19, because it believed the property market would recover in the second half and it saw recovery as a business opportunity.
"Our first-half revenue and net profit confirm our confidence in a property-market recover," he said.
Sansiri recorded first-half revenue of Bt6.59 billion, up 10.7 per cent year on year, for a net profit of Bt507 million, against a net loss of Bt79.61 million in the same period last year.
Preuksa Real Estate director and chief operations officer Prasert Taedullayasatit said his company would launch 23 new residential projects worth nearly Bt15 billion in these last months of the year. The company believes demand for residential projects has recovered. This is confirmed by 5-per-cent growth in the number of new residences registered in May from those registered in May 2008,he said.
"We believe the property market will recover in the second half, and that will drive the number of newly registered residences in the greater Bangkok area this year 5-10-per-cent beyond last year's figure," he said.
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