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PROPERTY
PORNNALAT PRACHYAKORN
Supharat Group is confident that it can achieve its revenue target of 700 million baht this year from its three subsidiaries despite weakening consumer confidence, according to managing director Sumeth Sukapanpotharam.
The company's units include the architecture firm TM Design; Supharat Development which develops urban real-estate projects along skytrain routes; and Supharat Resort focusing on property developments in prime tourist destinations outside Bangkok.
The 360-million-baht condominium Sense Sukhumvit, located on Sukhumvit 68, was launched last year by Supharat Development. The company has sold 90% of the 149 units, worth about 300 million baht. It plans to start transferring units in January but expects to realise some revenue by year-end.
The group has recently raised unit prices by about 10% in line with the rising costs of construction. Prices of steel had gone up by almost 50% compared to last year, Mr Sumeth said.
Supharat Resort, which is developing a 43-unit resort Pran-a-Luxe worth 660 million baht in Pran Buri, expects to start transferring its first 24 units worth 350 million baht by November, with about 300 million baht in revenue expected to be realised by year-end.
The group expects revenues of both companies to grow by 30% this year. They are still looking for new plots of land for future expansion.
The group plans to focus more on property outside Bangkok next year, particularly along the coast from Phetchaburi to Chumphon where demand is high.
However, TM Design's revenue growth this year is forecast to be flat due to lower customer confidence. Last year, it recorded revenue of about 15 million baht.
''Though customers tend to be more reluctant in making a decision during a time of unstable political conditions, we haven't been affected much as our projects target customers with high purchasing power,'' said Mr Sumeth.
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