SET-listed Origin Property Plc (ORI) plans to launch nine new residential projects worth a combined 15 billion baht this year, aiming for 20% growth in presales to 13 billion baht.
Chief executive Peerapong Jaroon-ek said most rental properties would be in Chon Buri province, including the 347-room Holiday Inn & Suites in Laem Chabang opening in 2019, while the 3,000-square-metre Portobello Mall will be in Si Racha.
It also has a plot in Si Racha where it plans to develop a 30-storey serviced apartment to tap strong demand from Japanese expats who work in industrial estates in the area.
Origin also wants to develop a 30-storey serviced apartment, named One Thonglor, on Bangkok's Soi Thong Lor with 300 units at a rental rate ranging from 50,000 to 100,000 baht a month.
The company targets recurring income of 400-800 million baht a year in 2019-21.
"As high household debt will continue to be a problem for the low-end segment this year, we will shift new residential projects to the middle to upper-end market," Mr Peerapong said.
KnightsBridge Sky City Saphanmai is expected to launch in the first half of 2017.
The new projects include eight condo sites with a total sales value of 14.3 billion baht and a low-rise project including duplex houses and single houses worth 700 million baht at areas near Srinakarin Road.
Of the total launch value, 24% would be units priced at 5-6 million baht, up from 22% last year.
Some 18% and 20% are units priced at 4-5 million baht and 3-4 million baht, respectively, up from 14% and 16%. The proportion of units priced at lower than 3 million baht will reduced to 38% from 49%.
Last year it launched nine projects worth 11.3 billion baht, up 54% from 2015, and recorded 70% sales on average.
Origin expects to have 13 billion baht in presales this year, up from 10.84 billion in 2016.
It has a sales backlog of 12.88 billion baht, of which it expects to realise 77% in 2017.
The company projects to earn 6 billion baht in revenue this year and spend 3 billion to acquire new plots of land for future development, up from 2.5 billion baht last year.