Gusto Village Co Ltd, a subsidiary of the SET-listed developer Quality Houses Plc (QH), will launch six townhouse projects in the lower-end segment worth a combined 3 billion baht in 2013.
Managing director Pawarun Udomsiri said the parent firm set up Gusto Village to tap the townhouse market, which is larger than the single-house market.
QH and its subsidiaries have less than 5% of the townhouse market. The overall market for townhouses last year was 48 billion baht.
Mr Pawarun predicts greater competition next year in the townhouse market, especially in the Rama II area, where many big developers have launched projects.
In 2013, Gusto Village aims to have 3 billion baht in revenue and 4 billion baht in sales, eyeing a 15% market share.
Each new project next year will have sales value of 500-600 million baht.
One of them will be in Nakhon Pathom, as the company tests the provincial market.
The project will sit on a 10-rai site in Nakhon Pathom's Muang district, with unit prices of 1.5 to 2 million baht.
Others will be on Phahon Yothin Soi 48, Ramkhamhaeng Road, Sukhumvit Soi 103, Suk Sawat Road and Rama II Road.
This year QH launched four projects worth a combined 2.7 billion baht with unit prices of 2 to 2.6 million baht, in the Sathon-Taksin, Pin Klao, Rama V and Ramkhamhaeng areas.
Founded last year with registered capital of 5 million baht, Gusto Village develops two- and three-storey pre-built townhouses with a usable area of 109-132 square metres.
Shares of QH closed on the SET at 2.14 baht yesterday, down four satang, in trade worth 29.2 million baht.
About the author
- Writer: Kanana Katharangsiporn
Position: Business Reporter