SET-listed developer Nusasiri Plc (NUSA) plans to have a joint venture with Chinese investor Delsk Group to develop six new property projects in Sri Racha and Phuket for investment buyers next year.
Siriya Thepcharoen, deputy chief executive of Nusasiri, said the company and the Chinese partner will co-invest in two projects in Sri Racha and four in Phuket, where Nusasiri has plots worth a combined 3 billion baht.
"Development value cannot be estimated at the moment as Delsk is planning the projects and choosing hotel chains to operate each property," she said. "Five of the joint venture projects will be condos and one will be a villa in Phuket."
All of the joint venture projects and future Nusasiri developments will be residential properties for investment buyers, operated by a hotel chain, said Mrs Siriya.
Nusasiri will launch new condo projects in Pattaya and Khao Yai by itself next year.
In Pattaya, Nusasiri will develop a high-rise condo worth 6 billion baht on a 40-rai site next to its cultural theme park project Legend Siam. The building will have 900-1,000 units priced between 4-8 million baht with a yield guarantee of 6% per year.
Nusasiri has plots sized a total of 400 rai available for new development at the 1,300-rai Nusa My Ozone in Khao Yai, which will be divided into four phases and take three years to complete development.
Yesterday Nusasiri launched a new condo project Bergh Apton, worth 400 million baht, located on a nine-rai plot in Nusa My Ozone. The project will comprise three three-storey buildings and a total of 80 units priced from 4 million baht, being offered with a guaranteed yield of 6% for five years.
She said Khao Yai will become more popular among Thais as the motorway from Bang Pa-in in Ayutthaya to Nakhon Ratchasima and future high-speed trains are completed.
"Year-round hotel occupancy in Khao Yai was 35-40% until 2016, when Chinese tourists overflowed into Pattaya and Phuket, and rose to 50-55% as Thais shifted to this hillside destination, where foreign tourists are fewer," said Mrs Siriya.
The project will target both individual investors and digital nomads, or those using the internet to work from anywhere, aiming to have all units sold out by the end of the year.
During the first nine months, the company recorded 3 billion baht in presales. All of them were ready-to-transfer units. Half of the amount was from a big lot sales, including 1 billion baht at Parc Exo condo in Kaset-Nawamin area to Delsk Group and 500 million baht to a Japanese investor at Up Ekamai condo.
NUSA shares closed yesterday on the SET at 34 satang, up one satang, in trade worth 1.98 million baht.