The SET-listed Property Perfect Plc (PF) will turn its many large land plots, previously considered a burden, in Greater Bangkok into an advantage.
It plans to use them to boost the value of its development plan to 71 billion baht over the next three years.
Some 2,200 rai from the 3,000 rai it owns in Greater Bangkok are located near present and future mass transit lines.
Those with the highest potential are located in the Rattanathibet Road area near the Purple Line.
PF may sell 40-50 rai in this area to an international school for 4-5 million baht a rai.
Chief executive Chainid Ngow-Sirimanee said the company is also in talks with a few US and UK buyers.
Its many large plots on hand will allow PF to reduce spending on land acquisition to 2 billion baht a year in 2013 and 2014, one-third less than in normal years.
''We'll stay and expand our market share in Greater Bangkok,'' Mr Chainid said yesterday.
''Upcountry and other Asian expansion will not be our focus in the next few years.''
From 2014-15, some 80% of revenue will come from Greater Bangkok; 10% from Hua Hin, Chiang Mai and Phuket; and 10% from property projects at a ski resort in Sapporo, Japan it acquired from the Mitsui Group last year.
This year, PF plans to launch 21 new projects worth a combined 27.6 billion baht _ 15 single house and townhouse projects worth 18.4 billion and six condominium projects worth 9.2 billion.
PF expects 19 billion baht in presales this year, up from 14 billion last year, with revenue of 15 billion, up from 9 billion.
Shares of PF closed on the SET at 1.36 baht yesterday, unchanged, in trade worth 85 million baht.
About the author
- Writer: Kanana Katharangsiporn
Position: Business Reporter