Two SET-listed developers, Pruksa Real Estate Plc and L.P.N. Development Plc, are beefing up their projects amid rising confidence in Thailand's economic prospects in the second half of the year.
Lersuk Chuladesa, co-chief executive of Pruksa, said the company will launch 38 projects worth a combined 30 billion baht in the second half after launching 27 projects worth 24 billion in the first half.
"Of the 38 new projects, seven single-house projects worth a combined 6 billion baht were postponed from the second quarter as we wanted to wait for a clearer situation in the economy," he said.
Next month, Pruksa is due to launch two condo projects worth a combined 5 billion baht. Plum Condo Ramkhamhaeng Station has 1,003 units sized 22.5 square metres and priced 1.69 million baht, while Plum Condo Pinklao Station has 968 units sized 24.5 sq m and priced 1.95 million baht.
It aims to have 14.3 billion baht in presales from condos, which would account for 28% of target revenue this year, up 60% from last year.
In the first half, Pruksa recorded 21.5 billion baht in presales, down from 24 billion in the same period last year. It aims to have 51 billion baht by year-end, up 20.3%.
Pruksa is holding a campaign from today until Sept 30 that offers buyers a waiver of transfer and mortgage fees, discounts and a lucky draw.
L.P.N. managing director Opas Sripayak said it will launch six condo projects worth a combined 7 billion baht in Bangkok (Sukhumvit Soi 113, Asok and Phetchkasem Soi 98), Cha-am and Hua Hin.
In the first half, it recorded 5 billion baht in presales, down from 8.9 billion in the same period last year.
On Jan 11, L.P.N. said it would launch 15 projects worth a combined 17.6 billion baht this year. They will comprise 10 condo and five townhouse projects worth 15 billion and 2.5 billion baht respectively. They will be located mainly in Greater Bangkok.
L.P.N. targets 17.6 billion baht in presales and another 17.6 billion in revenue from condos this year, up from 14.5 billion and 16.7 billion last year, respectively.
Subsidiary Pornsanti Co, which builds townhouses, targets 1 billion baht in revenue and 1.5 billion in presales.
PS shares closed yesterday on the SET at 25.25 baht, unchanged, in trade worth 47 million baht, while LPN shares closed at 12.90 baht, down 10 satang, in trade worth 45.1 million baht.