MK Real Estate Development Plc is shifting project developments to inner Bangkok with plans to launch four residential projects worth a combined 4 billion baht next year.
Marketing manager Tanya Siripuchaka said buyers were looking for units, mainly condominiums or townhouses, near the city due to convenient transport.
The four projects will be located on Vibhavadi Rangsit Road opposite IT Square, in the Rama 7 area, on Soi Charoen Krung 80 and on Sukhumvit Soi 62.
"All of our existing 15 projects are in outer Bangkok and most of them are to the north," she said.
MK targets 3.5 billion baht in presales next year.
Currently, it has a sales backlog of 1.2 billion baht. Of the total, 800 million baht was from a condominium project on Vibhavadi Rangsit Road and the rest from low-rise units.
The company aims for 2 billion baht in sales by the end of the year, with 1.8-billion-baht revenue. The figures are close to last year's performance.
MK has launched only one project this year, the Chuan Chuen Charan 3 worth 1 billion baht.
Located on a 23-rai plot on Soi Charan Sanitwong 3, the project has 224 units of a three-storey townhome priced in the range of 4.7 to 13 million baht.
Since the opening of phase one with 80 units in mid-2012, 40 units have been sold. Buyers are those living in Yaowarat and Thon Buri areas. Phase two will be launched early next year.
As the project is close to a canal, the company applied flood-protection measures, from a buffer to a water-retention area to build customers' confidence.
Ms Tanya said housing demand had returned since the third quarter this year and would continue into 2013 with market growth of between 10% and 15%.
Housing market competition next year will be not be about marketing but for construction contractors.
She said the loan-to-value ratio for low-rise units to be capped at 95% starting next year would have a minimal impact on homebuyers.
MK shares closed yesterday at 3.44 baht, unchanged, in trade worth 3.95 million baht.
About the author
- Writer: Kanana Katharangsiporn
Position: Business Reporter