WANGTHONG SEEKS LAND FOR 2010 PLANS

       Property firm Wangthong Group has set aside Bt500 million to buy undeveloped land in three locations for residential development in the next year.
       The company recorded total sales of Bt1 billion in the first eight months of this year. Managing director Pramote Jesadawarangkul said at a press conference yesterday that the Bt1 billion amounted to growth of 10 per cent over the same period last year.
       The company also plans to launch its latest condominium project, The Centre, located close to Zeer Rangsit and worth nearly Bt300 million, this month.
       Pramote said the 10-per-cent gain was due to home-buyers renewed confidence and the government's tax incentives for property development.
       "The number of customers who are visiting our residential projects is up over last year, and most of them have already made a decision to buy," he said.
       Given the results for the first eight months of the year, the company now believes that total sales for the year will meet the target of Bt1.5 billion.
       "If Thailand's economy recovers, we are ready to apply to be a listed company on the Stock Exchange of Thailand, after delaying the plan over the last two or three years," Pramote said.
       The company will focus on the townhouse market rather than single detached houses in the next year. It estimates sales of townhouses will account for 60 per cent of the total, with the rest coming from single detached houses.
       The Wangthong group is one of several property firms developing residential property in the Rangsit area.
       The company now has eight projects worth Bt9 billion, most of them in the area.