Property developer AssetWise Plc will launch six new residential projects worth a combined 8.5 billion baht, diversifying to new locations where it is confident there is strong demand.
Chief executive Kromchet Vipanpong said the company will continue launching new projects in 2021 as it is confident in the segments and locations it will target.
"The purchasing power of SME owners and entrepreneurs is weaker, so we need to search for locations where demand remains strong," he said.
One of the new projects will be a home office with only six units priced between 15 and 20 million baht on Lat Phrao Soi 41 or Soi Pawana. It will be the second project in the location after the first was launched in 2019.
It will also launch a second phase of Modiz Rhyme Ramkhamhaeng with 1,205 units worth a total of 3.72 billion baht after the first launch in the third quarter last year recorded a good rate of sales.
He said two new projects it plans for this year will be located in new locations it has never developed before. A condo project is planned for Bang Na-Trat KM 4.5, comprising five eight-storey towers made up of 1,123 units worth a combined 2.24 billion baht on a 10-rai plot.
The other will be in the Sri Racha area, near Laem Chabang Industrial Estate and opposite Kasetsart University's Sri Racha campus, to tap demand from those working in the industrial sector.
He said condo development near campuses was a rising segment as demand derived from parents looking for a residential unit for their children and investment purchasers buying for rent.
"When students attend a university, many parents now offer them two choices, a car or condo," he said.
Last year the firm launched three projects worth a combined 3.63 billion baht and recorded 2.4 billion baht in presales.
The firm was also filing with the Securities and Exchange Commission to get listed on the Stock Exchange of Thailand.
In 2020, it posted 4.2 billion baht in revenue with net profit of 871 million baht, an all-time high since it began in 2013 when it launched only three projects worth a combined 1.2 billion baht. As of the end of 2020, it had sales backlog of 7.84 billion baht with 5 billion being realised by the end of this year.