Grand Unity Development Co, a condo development subsidiary of SET-listed Univentures Plc (UV), plans to launch four new condominium projects worth a combined 12 billion baht, aiming to have 10 billion baht in presales — the highest amount in the company’s history.
Managing director Siripong Srisawangwong said the new projects under new brands will have higher sales value than past launches, as they will be in locations either closer to mass transit stations or nearer the inner city.
“The condominium market grows every year as consumer behaviour changes,” Mr Siripong said. “We shift to locations closer to mass transit stations because condo buyers prefer convenience.”
The new projects will be in four locations: near Sripatum University, opposite Major Ratchayothin Cineplex, on Charan Sanit Wong Road and in the Chatuchak area.
All will be close to mass transit stations of existing or new lines. Unit prices will range from 90,000 to 110,000 baht per square metre.
“Earlier we launched and developed condominium projects in locations quite far from a mass transit station, with a distance of 700-1,000 metres from the station, as we wanted to offer an affordable unit price and the number of mass transit lines at the time was limited,” Mr Siripong said.
Since there are many new mass transit stations in the pipeline, condominium development should edge closer to stations, said Mr Siripong, who is a former co-CEO of SET-listed developer Origin Property Plc.
Grand Unity aims to have 10 billion baht in presales for its fiscal year ending Sept 30, 2018, the highest since the company’s founding 16 years ago.
For Jan 1-Sept 30, 2017, the company posted 3.8 billion baht in presales.
Revenue in those nine months was 3.8 billion baht. All was from completed and remaining condominium units at seven projects.
Grand Unity expects 4 billion baht in revenue during Oct 1, 2017-Sept 30, 3018.
As of Sept 30, 2017, the company had about 1,000 ready-to-transfer condo units remaining for sale, worth a combined 4.2 billion baht, from seven completed projects.
By 2022, Grand Unity aims to have 17 billion baht in presales from the launch of new condominium projects worth more than 20 billion baht combined.