SET-listed residential developer Property Perfect Plc (PF) plans to launch 14 new projects worth a combined 17.7 billion baht and aims to have 16 billion baht in revenue by the end of the year, a growth of 60%.
Wongsakorn Prasitvipat, managing director, said a key driver to expanding new launches and presales growth would be low-rise houses as demand in this segment has continued to be robust since the pandemic.
"With the easing of Covid-19 and the economic recovery driven by a rebound of the tourism sector, home purchasing power will increase this year," he said. "We are strongly confident that 2023 will be our best year over the past several years."
The new projects will comprise 13 low-rise housing projects worth a combined 16.7 billion baht and a low-rise condo project worth 1 billion baht which will be the first since freezing condo launches for a period of four years.
"We will resume condo development because we expect the return of foreign buyers," he said. "Another reason will be the start of the Yellow Line, which will start running this year as our condo's location is in the Phatthanakan area."
Of the 13 low-rise projects, which is up from 10 projects worth 12.5 billion baht in 2022, nine will be single detached homes and duplex houses valued at 11.7 billion baht.
The increase will be mainly driven by units in the middle- to upper-end segments which will account for 70%, up from 40% last year, as growing demand in these segments has been buoyed by a recovery of the hospitality business, he added.
One of the new low-rise projects will be a joint venture with Japanese builder Sumitomo Forestry, featuring 309 units worth 2.2 billion baht.
It expects to have 16.5 billion baht in presales, up from 11 billion in 2022 which was an increase from 8.8 billion in 2021.
Key drivers will be low-rise houses with 14.5 billion baht which is expected to surge 31% from 11 billion in 2022 and 8.8 billion in 2021.
The revenue target has been set at 16 billion baht, up from 10 billion last year.
Of this amount, 9.2 billion baht would be from low-rise houses, 4.4 billion from joint venture projects and 2.4 billion from condo.
