Teo Hong Silom Co will continue to offer automatic parking systems in the high-end residential sector despite soaring land prices in the inner city.
The company is a comprehensive provider of innovative building and infrastructure services.
Vorathep Sirirat-usdorn, the company's director of construction, said automatic parking systems can increase efficiency as their gross floor area requires 12-13 square metres per car, compared with 25-26 sq m for a general car park.
"We introduced automatic parking systems three years ago and saw growing demand in high-end condos as projects can have higher saleable area and a better image," he said.
The systems also help with plots with shapes that do not allow a car park, such as prime locations with limited space.
In the first half, the company will sign contracts with five new projects to provide systems with a combined sales value of 250 million baht. It expects to have 400 million baht in sales this year, up from 250 million in 2015.
Teo Hong Silom has installed the systems at six projects for 1,600 car spaces and a sales value of 800 million baht. Four are at high-end condos including MahaNakhon, Circle Sukhumvit 11, Ashton Residence 41 and Iconsiam. The other two are the luxury Hyatt Place Hotel and mid-priced condo Knightsbridge Sky River Ocean.
Last year the company generated 4 billion baht in revenue from five segments: mechanical and electrical systems 35%, information and communications technology 25%, construction materials 15%, medical equipment and others 15%, and property 10%.