The listed developer Pruksa Real Estate Plc (PS) plans to launch 78 projects worth a combined 55 billion baht this year while expanding into more areas, notably Phuket's Patong.
"In Phuket, demand is mainly from those working in tourism business, while demand in Chon Buri is from those working in industrial estates," said chief business officer Prasert Taedullayasatit.
With the government's rice pledging scheme boosting incomes in the North and Northeast, PS also has its sights set on those regions.
In Chiang Mai, the company owns a 40-rai plot for a project yet to be decided.
Mr Prasert said housing demand nationwide this year will grow by 10%, driven by business in the provinces. In Greater Bangkok, the market is expected to grow by 5%.
Last year, housing demand in the provinces totalled 300 billion baht, up from 240 billion in 2011. The condo segment drove sales. Housing demand nationwide was 600 billion baht, up 25%.
Of the 78 projects launched by PS this year, 13 will be condominiums, 16 will be single homes and 47 will be townhouses. Provinces getting projects include Phuket, Chon Buri, Khon Kaen, Ayutthaya and Samut Sakhon.
Two foreign projects are planned as well, in Vietnam and India.
PS will also spend 300 million baht to set up a subsidiary in Indonesia for property business, starting with a townhouse project worth 1 billion baht in Jakarta.
To develop its new projects, PS will spend 35.7 billion baht on construction and 9.2 billion for land acquisition this year.
The company aims for 35.42 billion baht in presales in 2013, up from 29.4 billion last year, and revenue of 34 billion baht, up from 27 billion.
PS has a sales backlog of 35.4 billion baht, of which 24.77 billion will be realised in 2013, 7.37 billion in 2014 and 3.24 billion in 2015.
About the author
- Writer: Kanana Katharangsiporn
Position: Business Reporter