SET-listed developer Sansiri Plc will spend 20 billion baht to launch new residential projects worth a combined 150 billion baht, with a presales target of 120 billion baht during 2022-24.
President and chief executive Srettha Thavisin said one-third, or about 50 billion baht, will be launched in 2022 from 46 new projects, mainly in Greater Bangkok.
About 65% of the presales were from low-rise houses, with 35% from condos, while 55% of transfers were from low-rise houses and 45% from condos. In 2021, Sansiri also sold out 16 projects worth a combined 30.7 billion baht.
Chief operating officer Uthai Uthaisangsuk said the company will this year spend 8 billion baht on purchasing new plots of land for launching new projects from 2023 onwards.
As property growth was in line with the economy, the sector would grow by 4-5% if GDP growth was 3%. However, the impact of two years of the pandemic is still hitting purchasing power.
Source: Bangkok Post PCL