SET-listed developer Sena Development Plc plans to launch 11 new residential projects worth a combined 10 billion baht in 2015 as it grows confident of better market sentiment.
The investment would be the highest since Sena was founded in 1977.
Executive director Kessara Thanyalakpark said the property market would grow in line with the country's economic expansion, driven by public investment in transport networks.
Sena has set aggressive targets of 4.5 billion baht in presales and 3 billion baht in revenue, up 50% and 10% respectively from 2014.
Revenue will mainly come from condos (1.8 billion baht) as the company has a sales backlog of 2 billion baht from condo and low-rise sales to realise this year.
Some 33% of revenue will be from single houses and townhouses.
To achieve its goals, Sena will diversify into new locations like western Bangkok with projects clinging to the Blue Line in Bang Kae.
Before, Sena's focus was on Bangkok's eastern and northern areas.
"Decreasing fuel prices came as a surprise, helping reduce pressure from rising construction materials prices and boosting purchasing power," Ms Kessara said. "However, household debt was high, which had an impact on the lower-end segment."
With the lower- and middle-end segments facing higher household debt, Sena will shift to the upper-end segment with a new condo project worth 3 billion baht on Phetchaburi Road.
The Niche Pride will sit on a four-rai site 800 metres from Phetchaburi MRT station. The 30-storey building will house 700 condo units of 30-60 square metres, priced from 100,000 baht a sq m.
As part of the upper-end condo segment, The Niche Pride will enlist property consultant Knight Frank Chartered (Thailand) as its sales agent.
Sena had planned to launch eight projects in 2014, but the number was cut to four worth 4 billion baht amid the economic slowdown.
The 11 new projects this year will include three single-house projects, three home office and townhouse projects, and five condo projects.
Of the 11, four worth a combined 2 billion baht (two townhouse and two condo projects) are postponements from 2014.
Of the 2.8 billion baht in revenue last year, 1.98 billion was from condos, 551 million from single-house and townhouse sales, and the rest from rental properties.
"We have shifted to developing more condos than single houses and townhouses, as it is people's lifestyle trend," Ms Kessara said.
Sena plans to spend 1 billion baht to buy new plots of land for 2016 development. It has yet to invest in or develop rental properties this year, citing unstable politics.
In the first half of 2015, the company will issue long-term debt worth 1.2 billion baht with a maturity of two to three years to finance new investment.
SENA shares closed yesterday on the SET at 3.18 baht, unchanged, in trade worth 10 million baht.