Nirvana Development Co, a subsidiary of SET-listed property firm Singha Estate Plc, intends to become more aggressive next year with the launch of six new residential projects collectively worth more than 10 billion baht.
The value of the new launches in 2017 will be the company's highest record since it was founded in 2015.
The new projects will cover single houses, townhouses, home offices and condominiums in all pricing segments from affordable to high-priced units.
"Our merger plan with MAI-listed construction materials manufacturer and homebuilder Daii Group Plc is likely to be finalised by the end of this year," said chief executive Sornsak Somwattana.
Last month, the board of directors of Singha Estate, a property arm owned by Boon Rawd Brewery Co, approved a plan to acquire a majority stake of Daii Group for around 3.4 billion baht.
According to Singha Estate's statement to the Stock Exchange of Thailand, the company will take not less than 55.63% of Daii Group by swapping 51% shares of Nirvana Development worth 2.14 billion baht and two plots of land worth 1.25 billion baht.
Maybank Kim Eng Securities Thailand is the financial adviser on the deal.
Mr Sornsak said two of the six new projects being launched next year will each be located on 20-rai plots on Krungthep Kritha Road, comprising single houses and townhouses worth a combined 2 billion baht.
Both plots are some parts of a 240-rai site it bought from SET-listed Bangkok Land Plc in March this year at a price of 3 billion baht, or around 30,000 baht per square wah. Half of the purchase price was paid in September and the remaining will be paid in 2017 or 2018.
There will be a high-end condo project by the Chao Phraya river on Charoen Nakhon Road in Klong San district, where it will develop a 49-storey tower with a sales value of 6 billion baht.
Another project will be a home office worth 1.2 billion baht on Kaset-Nawamin Road with unit prices starting from 16 million baht. The remaining two sites will be developed for affordable single houses priced between five to 10 million baht a unit in eastern Bangkok where it is seeking new plots.
This year it launched four new projects worth a combined 5.2 billion baht and aims to have 2 billion baht in presales, the same as last year.
During the first 10 months, it recorded 1.7 billion baht with 750 million baht generated in September-October.
"Sales early in the year slowed as homebuyers eyed a ready-transfer unit to benefit from the property tax incentives which expired in April," Mr Sornsak said. "It picked up in the past two months."
Last month saw the soft launch of Nirvana@Work Ramintra, a home office project worth one billion baht, located on a nine-rai site on Ram Intra KM 2 Road and comprising 61 units priced from 14.2 million baht.
Target customers will be small and medium enterprise owners with an annual revenue of over 200 million baht. Sixteen units have been sold, bought by online, beauty and export-import business owners.
"This is a good time to purchase homes as housing price will rise when economy improves," Mr Sornsak said.