Thailand Condominium Expo to be organized in October
The Thai Condominium Association has started a project in association with property agency Century 21 Real Affiliates (Thailand) to juncture the first Thailand Condominium Expo in Singapore from October 23 to October 25. The three-day program, to be organized at the Suntec Singapore International Convention and Exhibition Centre, is likely to attain sales of minimum Bt1 billion.
The association looks forward to in any case 50 property companies to take part, presenting nearly 60 projects jointly of value above Bt60 billion.
The organization had decided to carry out the expo in Singapore in 2009 for the reason that condo-purchasing power in the local market had plunged drastically. In the initial six months of the year 2009, Thai condominium projects launched in 2009 recorded presales of just about 75% of the project value. That is nearly 10% below as it was in the same period of 2008.
In the meantime, the number of recently registered condominiums, for launches made in 2007 and 2008, still recorded increase of almost 5% in the first half of the year 2009.
The presales of the initial six months of 2009 at property developer Supalai had come up to approximately Bt4.2 billion, which is almost 6% below the expected target. On the other hand, Supalai considers its presales will definitely reach the full-year target of Bt10 billion subsequent to the launch of six housing projects in the last six months of 2009.
For the reason of the lower local demand, the organization had decided to facilitate its members in spreading out their sales overseas, beginning with Singapore. It has left behind Bt10 million to organize the October program, with Bt5 million allocated for marketing and sponsorship and the leftovers for operations.
Century 21 Real Affiliates (Thailand) CEO stated that the real estate sector in Singapore was revealing indications of recovery, based on a company survey recently.
The association looks forward to in any case 50 property companies to take part, presenting nearly 60 projects jointly of value above Bt60 billion.
The organization had decided to carry out the expo in Singapore in 2009 for the reason that condo-purchasing power in the local market had plunged drastically. In the initial six months of the year 2009, Thai condominium projects launched in 2009 recorded presales of just about 75% of the project value. That is nearly 10% below as it was in the same period of 2008.
In the meantime, the number of recently registered condominiums, for launches made in 2007 and 2008, still recorded increase of almost 5% in the first half of the year 2009.
The presales of the initial six months of 2009 at property developer Supalai had come up to approximately Bt4.2 billion, which is almost 6% below the expected target. On the other hand, Supalai considers its presales will definitely reach the full-year target of Bt10 billion subsequent to the launch of six housing projects in the last six months of 2009.
For the reason of the lower local demand, the organization had decided to facilitate its members in spreading out their sales overseas, beginning with Singapore. It has left behind Bt10 million to organize the October program, with Bt5 million allocated for marketing and sponsorship and the leftovers for operations.
Century 21 Real Affiliates (Thailand) CEO stated that the real estate sector in Singapore was revealing indications of recovery, based on a company survey recently.
Labels: Property Developer, Real estate sector, registered condominiums
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