NC Housing to launch 7 projects

NC Housing to launch 7 projects

SET-listed developer NC Housing will continue launching low-rise housing with seven new projects worth a combined 5 billion baht in 2021 as the segment surpassed the sales target last year.

Managing director Somnuek Tanthathoedtham said the pandemic saw consumer preferences move to low-rise houses from condos. The latter segment also accumulated too much supply over two consecutive years.

"The low-rise housing market saw a positive impact after hygiene and safety became a concern and social distancing was adopted," he said.

As more than 90% of the company's portfolio was low-rise houses, presales last year exceeded a target of 2.7 billion baht set earlier in 2020.

NC recorded 3.4 billion baht in presales, driven by low-rise houses.

All of the seven new projects scheduled for launch this year will be low-rise houses, including townhouses, duplex houses and single detached houses priced at 2-5 million baht.

Two of them, worth 1.5 billion baht, were postponed from last year, when the company launched only one project worth 1 billion baht.

By the end of 2021, the company aims to have 3.4 billion baht in presales, the same amount to last year, and 2 billion baht in revenue, up 20% from 2020.

Next month NC will announce a business plan for an intermediate care and wellness centre business to generate a recurring income in a long run.

The wellness centre business was a joint venture with The Care And Health Group Limited Partnership for setting up Siri Arun Wellness in August 2019 with a registered capital of 25 million baht, where 60% is held by N.C. and the rest by the partner.

The first branch opened early last year on Arun Amarin Road near Siriraj Hospital and the second and third were launched late 2020 -- one near the first one and another in Ubon Ratchathani.

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