PM Group Co is resuming its property development business in the inner city, planning to launch two residential projects worth around 2 billion baht per year.
Chief operating officer Ausana Mahagitsiri said the projects the company planned to develop each year would likely be medium- to small-scale condos in prime locations such as the Sukhumvit or Phloenchit areas.
"We will avoid competition with big developers but will seek potential room in a market where demand is strong," she said.
"There are small plots of land away from main roads in prime locations where a low-rise condo worth around 1 billion baht can be developed."
Early next month it will officially launch a new condo project, The Nest Sukhumvit 22, worth 1.5 billion baht. It will be located on a 2.5-rai site on Sukhumvit Soi 22, comprising two eight-storey towers with a total of 316 units sized 24-56.5 square metres and priced from 2.9 million baht a unit.
"We will focus on the middle-end market with affordable prices to target office workers and investors who may be able to have a capital gain or a yield from renting out," she added.
The company recorded 50% sold since the pre-launch period late last year despite a slowdown in the overall condo market. It will be the second condo project after The Nest Ploenchit, an eight-storey condo worth 400 million baht on Soi Nai Lert, which was sold out three years ago.
On Phloenchit Road it will open a new three-star hotel with eight storeys and 400 rooms with an investment of 500 million baht. The room rate will be around 2,000 baht per night.
By the end of the year PM Group plans to launch a new low-rise condo project on lower Sukhumvit Road, targeting 1.5-2 billion baht in presales.
For the non-residential property business, it has three golf courses.
Lakewood Country Club sits on a 2,000-rai plot on Bang Na-Trat KM 18 where it spent 700 million baht to develop Lakewood Links, launched early the year.
In Khao Yai, it operates both a 27-hole golf course and the 38-room Mountain Creek Hotel, launched four years ago.