Samut Prakan-based condo developer Origin Property Plc will focus more on Chon Buri's Si Racha district to tap strong demand in the residential sector.
It plans to launch two projects worth a combined 4 billion baht in the second half of this year.
Chief executive Peerapong Jaroon-Ek said while the overall property market in provinces was in a relatively poor condition, there was strong housing demand in Si Racha, particularly Laem Chabang, from industrial estate workers.
"Laem Chabang will become a prime location in the next few years with exponential growth as it improves to become a self-governing municipal area," he said.
"High potential will also be driven by an upgrade of the port, airport, roads and railways."
Origin Property will launch a condo project worth 2.4 billion baht in Si Racha next quarter on a four-rai plot with about 700 units sized from 28 square metres and priced at 80,000 baht per sq m.
Target buyers will include Thai investors and Japanese buyers.
In Laem Chabang, it has a 14-rai plot where it will develop a mixed-use project called Origin District. It will include a two-storey community mall and six residential buildings.
Two of the six buildings will be eight-storey condos that will be launched in the fourth quarter with a sales value of 1.6 billion baht. Target buyers will be blue-collar workers in Laem Chabang.
Late this month, the developer will launch a condo project worth 1.34 billion baht in Bangkok's Saphan Mai area.
Mr Peerapong said the company planned to list on the Stock Exchange of Thailand in September and offer 180 million initial public offering shares at 50 satang apiece. Kasikorn Securities is its financial adviser.
In the first quarter, Origin Property posted a net profit of 105 million baht on revenue of 490 million.
It is expected to have at least 2 billion baht in revenue this year, up from 559 million last year.
In the first five months, it had 2 billion baht in presales.
It targets achieving 2.5 billion baht this month and 5.5 billion by year-end.
It has a sales backlog of 5 billion baht, of which 1 billion will be realised this year.