SET-listed developer Ananda Development Plc (ANAN) plans to launch 12 new projects worth a combined 31.6 billion baht this year.
It also plans to diversify to Board of Investment-backed condo development and the city townhouse segment.
Chief executive Chanond Ruangkritya said the new projects would cover all price segments, from lower-end condos priced at 35,000 baht per square metre to luxury projects at nearly 300,000 baht per sq m.
"The focus remains on residential projects near mass transit lines or in the city," he said. "We have no plan for the provinces over the next five years."
Feasible locations for BoI condo projects are 800-900 metres from mass transit stations. Land cost should not exceed 100,000 baht per square wah.
Condo projects applying to get corporate tax privileges under the BoI promotion need to have at least 50 units sized 28 sq m and larger, priced below 1 million baht. The promotion expired on Dec 31, 2014.
Mr Chanond said Ananda would develop BoI condos under the new brand Unio. The first site will be launched in the second quarter on a 17-rai site on Charan Sanitwong Soi 3, 900 m from Tha Phra station on the Blue Line. With a sales value of 1.93 billion baht, it will comprise eight eight-storey buildings with 1,936 units, all 28 sq m and costing 990,000 baht a unit.
This year Ananda will also shift to a new segment — medium to high-priced townhouses in the inner city under the new brand Arden, with unit prices from 7-15 million baht. It will launch three sites, at Lat Phrao Soi 71, Rama III Road and Phatthanakan Soi 20.
Among the 12 new projects it plans to launch this year, two will be joint-venture condos with Japanese developer Mitsui Fudosan. One of these is the Ashton Chula-Silom worth 8.26 billion baht, located on a five-rai site on Rama IV Road. It spent 1.1 million baht per sq wah to acquire the land. The project will be a 56-storey building with 1,182 units sized from 24.5-65 sq m, priced from 5.9 million baht a unit.
The company aims for 22.5-23.5 billion baht in presales, up from 20.9 billion last year. The revenue target for 2015 is 10 billion, rising to 17.5 billion, 22.5 billion, 30 billion, 35 billion and 50 billion from 2016-20, respectively.
Ananda has a sales backlog of 27.2 billion baht, of which 6.22 billion should be realised this year, 10.9 billion in 2016 and 10 billion in 2017. It will spend 4.15 billion baht to buy new plots for future development, down from 10.3 billion last year.
The company reported 2014 net profit of 1.3 billion baht on revenue of 10.6 billion, up 60% and 15% from 2013, respectively. Revenue from condos totalled 7.38 billion baht, while single houses and townhouses contributed 2.3 billion.
ANAN shares closed yesterday on the SET at 4.16 baht, up 28 satang, in trade worth 960 million baht.