SET-listed developer Supalai Plc (SPALI) will launch 29 residential projects worth a combined 35 billion baht next year, giving more weight to low-rise developments to capitalise on property stimulus measures.
As low-rise units can generally be transferred more quickly than condo units, the company will launch 20 single-house and townhouse projects worth 20 billion baht.
The other nine projects worth 15 billion baht will be condos, deputy managing director Tritecha Tangmatitham said yesterday.
"We achieved a new record in sales of low-rise units last month," he said. "This represents better sentiment in the low-rise market after the property tax incentives take effect."
Supalai achieved 1.3 billion baht in sales of single houses and townhouses in October, much higher than the monthly average of 1.1 billion.
For the first 10 months of this year, it recorded 16 billion baht in residential sales. It expects 23 billion baht by year-end, up 18.6% from last year.
Some 8 billion baht of sales came from low-rise units. It target 10 billion from this segment by year-end, up by 20.5% from in 2014. The sales target for condos is 13 billion baht, up by 18.2%.
Supalai has a sales backlog of 35 billion baht, of which 7 billion will be realised this quarter. The company targets revenue of 22 billion baht this year, up by 17.6%. It has inventories of low-rise units worth 5 billion baht and condos worth 1.6 billion.
The company will next Monday launch the Supalai Riva Grande condo worth 6.3 billion baht, the highest sales value in the company's history. It is located on an 11-rai riverfront site on Rama III Road.
The company late last year spent nearly 1 billion baht or about 230,000 baht a square wah to buy the plot, which housed the suspended SV Garden project.
Supalai Riva Grande will comprise three towers of 36-37 floors each, 706 condo units and 14 shops.
SPALI shares closed yesterday on the SET at 19 baht, up 10 satang, in trade worth 13.9 million baht.