Thai Developers Are Aiming At the Lower End of the Property Market
A well known Thai developer Sansiri is aiming at the lower end of the property market with its recent Habitia brand. This brand is planned to make use of pre-cast building techniques to cut prices.
They are making arrangements to launch 4-5 projects of value Bt4 billion in this brand in 2009, with a sales objective of Bt900 million in 2009, said Suriya Wannabuit, the managing director of Piwattana.
Single apartments constructed in this recent Habitia brand would be valued quite less than Sansiri’s individual budget brand, Saransiri - which is only around Bt3.5 million for each unit, whereas average sales value of Saransiri’s is around Bt4.7 million, he said.
“We will make an effort to be autonomous from the parent company’s brand, because several purchasers have very high hopes from this new brand,” he said.
The company is trying to make use of pre-cast building technologies with an approximate average of 20-21 units per month, at the time of constructing this segment, said a past Sansiri executive who recently came back to head Piwattana after spending 1 year with Preuksa Real Estate, a forge in the use of pre-cast building technologies.
The initial project to be launched in the recent brand is Habitia Ratchapruek, of approximate value Bt1.2 billion.
There will be around 364 single apartments varying in size from 136-172 square meter and priced about Bt 3- 5 million in this project.
The additional three projects under this brand are 2 single apartment projects and a townhouse project in Bang Yai and Rangsit. Townhouses will be valued at approximately Bt1.8-2.5 million.
They are making arrangements to launch 4-5 projects of value Bt4 billion in this brand in 2009, with a sales objective of Bt900 million in 2009, said Suriya Wannabuit, the managing director of Piwattana.
Single apartments constructed in this recent Habitia brand would be valued quite less than Sansiri’s individual budget brand, Saransiri - which is only around Bt3.5 million for each unit, whereas average sales value of Saransiri’s is around Bt4.7 million, he said.
“We will make an effort to be autonomous from the parent company’s brand, because several purchasers have very high hopes from this new brand,” he said.
The company is trying to make use of pre-cast building technologies with an approximate average of 20-21 units per month, at the time of constructing this segment, said a past Sansiri executive who recently came back to head Piwattana after spending 1 year with Preuksa Real Estate, a forge in the use of pre-cast building technologies.
The initial project to be launched in the recent brand is Habitia Ratchapruek, of approximate value Bt1.2 billion.
There will be around 364 single apartments varying in size from 136-172 square meter and priced about Bt 3- 5 million in this project.
The additional three projects under this brand are 2 single apartment projects and a townhouse project in Bang Yai and Rangsit. Townhouses will be valued at approximately Bt1.8-2.5 million.
Labels: pre cast building technologies, single apartment projects, single apartments
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