Property Perfect Delays Condo Projects and Targets Low-Rise
One of the leading listed Thai property developer ‘Property Perfect’ recently announced that it is expected to delay investment in its two new condominium projects worth Bt2.75 billion which were expected to be launched in the first half of the year 2009. However, the property developer instead favors low-rise projects with a much shorter construction time frame.
As per Property Perfect’s director and assistant chief business development officer Sirirat Wongwattana, “We need to keep an eye on the market this year to make sure demand will resume. It’s too risky for large investments when consumers need to see finished products before making a decision,”
Announced in year 2008, the projects are to be located in Sukhumvit and Ratchada respectively. The first project could be put on hold for a minimum of two years depending on the economic situation, while the second project is expected to start at the end of the year 2009.
The developer is also expected to launch four new low-rise projects in 2009. The details are given below:
1. 402 detached houses in Ratchapruek
2. 321 townhouses in the Sathorn area
3. 114 detached houses in Ramkamhaeng and
4. 319 detached houses in Pattanakarn
Majority of low-rise construction projects have shorter construction periods, and as a result it allows the company to generate revenue more quickly.
New projects of the company are due to be completed by year-end and thus expected to realize about Bt1 billion from our new projects this year.
As per Property Perfect’s director and assistant chief business development officer Sirirat Wongwattana, “We need to keep an eye on the market this year to make sure demand will resume. It’s too risky for large investments when consumers need to see finished products before making a decision,”
Announced in year 2008, the projects are to be located in Sukhumvit and Ratchada respectively. The first project could be put on hold for a minimum of two years depending on the economic situation, while the second project is expected to start at the end of the year 2009.
The developer is also expected to launch four new low-rise projects in 2009. The details are given below:
1. 402 detached houses in Ratchapruek
2. 321 townhouses in the Sathorn area
3. 114 detached houses in Ramkamhaeng and
4. 319 detached houses in Pattanakarn
Majority of low-rise construction projects have shorter construction periods, and as a result it allows the company to generate revenue more quickly.
New projects of the company are due to be completed by year-end and thus expected to realize about Bt1 billion from our new projects this year.
Labels: condominium projects, construction periods, low-rise projects
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