Mr. Thongma Vijitpongpun, President and Chief Executive Officer, Pruksa Real Estate Public Company Limited. revealed that, “For the year 2016, we are aiming to generate 51 Billion Baht in sales and 52 Billion Baht in revenue – an impressive y-o-y growth of 20.3% and 10.6% respectively. We will continue to focus on horizontal developments because we believe this is where the ‘real demands’ and ‘growth opportunities’ are, and, besides, horizontal property projects have a much shorter business cycle time and faster ownership transfer procedure. We expect that 70% of our revenue will likely come from our townhouse and single-detached house projects. Another key strategy that we will continue to implement is the ‘Create Value’ principle. With this strategy, we aspire to add value to our brand through innovation in virtually all aspects of our operations including construction quality and after-sales services that cater to the demands of modern lifestyle – all to steer ‘Pruksa’ to become a top-of-mind brand for consumers and for it to maintain strong, yet sustainable, growth.”
“We believe that the overall real estate market for Bangkok and surrounding provinces in 2016 will grow approximately 5-10%, driving the total market value to reach 372 to 392 Billion Baht. Key factors contributing to such optimistic predictions include the Thai government’s planned investments in major land, sea and air transportation infrastructure projects, valued at 1.8 Trillion Baht in total. In addition, the government’s economic stimulus measures that offer significant discounts on ownership transfer and mortgage fees are still ongoing until the end of April and this will surely boost property sales between now and then, and will pave a strong foundation for the Thai real estate industry to continue to prosper for years to come.”
Mr. Lersuk Chuladesa, Chief Operating Officer of Pruksa Real Estate Public Co., Ltd., stated that,
“A major part of our 51-Billion-Baht revenue target will likely come from 25,938 Million Baht worth of backlog revenue – 15,278 Million Baht of which is scheduled to be acknowledged within 2016. We currently operate a total of 173 active projects, valued at 81 Billion Baht – 15 Billion Baht of which is the combined value of fully completed properties which are ready and eligible for ownership transfers according to the government’s economic stimulus campaign that runs from now until the end of April. Moreover, this year, we plan to launch between 60-65 new projects valued at 50-54 Billion Baht – 75% of which will be horizontal developments with a business cycle time no longer than 75 days. There will be 42-44 new townhouse projects, 12-14 new single-house projects, and 6-7 new condominium projects to be launched this year.