Supalai launches budget condo in Kaset-Nawamin
01 Oct 2007
The listed developer Supalai Plc has launched a budget condominium worth 2.9 billion baht in the Kaset-Nawamin area.
President Prateep Tangmatitham said the project offered buyers relatively low unit prices as Supalai was able to acquire the land cheaply with a joint partner.
Prices for the project are more than 20% lower than similar projects in the Kaset-Nawamin and Ratchayothin areas, the location of six new condominium projects in recent months with about 5,000 to 6,000 units.
Land costs for Supalai and its partner Thammasorn Group, the manufacturer of DOS on-ground water tanks, were only 40,000 baht per square wah while land costs in the area were not less than 100,000 baht per square wah.
The area the joint venture purchased totalled 20 rai, 16 of which were acquired by Supalai.
The remaining four rai, located on the front of the plot, was bought by Thammasorn to develop a Toyota showroom and office space.
Of the 16 rai, 15 would be developed for two buildings of Supalai Park Kaset-Nawamin condominium project with a total of 1,400 units worth 2.9 billion baht. Prices would start at 36,500 baht per square metre.
The project was launched at Central Plaza Lat Phrao on Friday with bookings being taken there until Wednesday. It has bookings of 100 units worth more than 300 million baht.
Another one rai would be developed for 24 shophouses priced starting at 3.9 million baht a unit. All units would be developed with a concern for wind direction and energy saving, said Mr Prateep.
During the fourth quarter of the year, it plans to launch six residential projects worth a combined 11 billion baht.
They will include a single-housing project, a townhouse project, a duplex and townhouse project, two condominiums and a housing project in Phuket.
He said the company targeted sales of three billion baht for the fourth quarter and a total of 8.8 billion baht for the whole year.
Shares of Supalai closed on Friday on the Stock Exchange of Thailand at 3.82 baht, down four satang, in trade worth 55.79 million baht.
Source: Bangkok Post by Kanana Katharangsiporn
Monday October 01, 2007
