MJD upbeat on B7bn presales target
text size

MJD upbeat on B7bn presales target

Ms Petrada poses in front of an artist's rendition of the duplex supercar lounge — the key highlight at 10 & Only Pattanakarn 20.
Ms Petrada poses in front of an artist's rendition of the duplex supercar lounge — the key highlight at 10 & Only Pattanakarn 20.

Property developer Major Development Plc (MJD) is confident of achieving its target of 7 billion baht in presales by year-end despite recording 2 billion baht in the first half, as all of the company's new projects are slated for the second half.

Natha Kittiaksorn, deputy chief executive, said presales of 2 billion baht in the first half were entirely derived from projects from last year or earlier.

"We recently launched the first three new projects of this year, with a combined value of 4 billion baht, just two weeks ago," she said. "The remaining four new projects worth around 10 billion baht are scheduled for launch from August until the end of the year."

MJD expects to post a profit this year as housing units at luxury project Malton Gates Krungthep-Kreetha, valued at 2.46 billion baht, are scheduled to be completed and transferred to buyers in the second half, she said.

Last year, MJD recorded 3 billion baht in revenue with a net loss of 370 million baht, compared to revenue of 4.44 billion baht and net loss of 353 million baht in 2021.

The four new projects it plans to launch from next month until the end of the year will comprise two low-rise housing projects worth 2 billion baht and two condo projects worth a combined 8.4 billion baht.

One of the low-rise projects will be "10 & Only Pattanakarn 20" worth 1.1 billion baht, being launched next month. It will consist of 10 units of single detached houses priced at 80-130 million baht a unit.

"Each unit will be equipped with a duplex supercar lounge or a duplex parking garage designed for supercars, with a car elevator that will connect seamlessly to the second floor," said Petrada Poolvoralaks, chief executive of MJD.

Target buyers are supercar enthusiasts or collectors who own many cars, particularly rare and exotic ones. The units will offer parking spaces for at least six cars, along with a pool and an elevator.

"10 & Only is a new brand for a super-luxury low-rise housing project with fewer than 15 units in prime locations," she added.

Ms Petrada said the market share of luxury low-rise houses priced at 20 million baht and above had grown significantly since 2020, increasing from 6% worth 1.5 billion baht per year in 2020-21 to 10% worth 2.3 billion baht in 2022.

In the super luxury low-rise housing segment or units priced at 70 million baht and above, the number of projects, units and their value rose across the board.

It increased from three projects with 41 units worth 7.3 billion baht in 2021 to seven projects with 131 units worth 11.8 billion baht last year.

"We are balancing our portfolio to give more weight to low-rise houses, increasing from 10% to 40%, and reducing condos from 90% to 60%."

Do you like the content of this article?