Land And Houses To Unveil 12 New Projects
Land and Houses Plc (LH) is already planning to unveil 12 new projects that are worth a total of THB 14.9 billion, which aims for pre-sales worth 26 billion and a revenue of 34.2 billion before the end of 2017.
New projects for the developer
Adisorn Thananan-narapool, LH’s managing director, mentioned that the company is predicted to have THB 31 billion worth of housing transfers, an increase from 28 billion last year, since the overall situation for 2017 is better than 2016.
He mentioned that this year there are no risk factors since Thailand’s political situation is already improving with the elections soon, while the spending in terms of infrastructure projects is also moving forward.
From the goal income, THB 3.15 billion is predicted to come from the rental properties that include 4 Bangkok hotels and 4 US apartments. Recurring income is predicted to grow from THB 2.8 billion last year, and it is going to account for the 10 percent of the total revenue yearly.
Land and Houses is going to spend THB 11 billion for this year, where 4 billion is for rental properties and 7 billion for land acquisition primarily in Thailand, which includes Terminal 21 Pattaya that began construction in 2016.
According to Mr Adisorn, they are not going to invest in the US this year since they already spent greatly last year, with THB 8 billion to get two apartments. They are looking to invest in rental properties in Thailand.
The four US apartments of the company has a total of about 900 rooms that are situated in three sites near the San Francisco Bay Area and one is in Portland, Oregon, acquired December at THB 4.5 billion.
For the company’s total new projects this year, nine are going to be situated in Greater Bangkok and the three located in the provinces, which includes 3 condo projects and 5 single detached house projects.
Naporn Sunthornchitcharoen, LH’s president, mentioned that the housing market was sluggish last year, but the single detached house segment is the only one that saw an increase in the quantity of newly registered units at 8.1 percent.
So, it looks like there are going to be several new projects in Thailand this year with the situation taking a positive turn. Surely, there are going to be a lot listed in the market, such as a house in Pattaya for sale or a Bangkok single detached home.