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K.D. Asset and Development Co is still confident in the city condominium market as it prepares to launch the 380- million-baht The Next Sukhumvit 52 catering to middle-income buyers.
General manager Theadsak Boontos said the company was avoiding the high-risk, low-income market and the crowded high-end market. High-end projects incur large start-up costs that the company wishes to avoid.
The eight-storey Next 2 will have 119 units, with 38 pool units, sized from 30 to 90 square metres and priced at 1.7 million to 5.5 million baht. The pool units would start from 47.5 sq m. Construction will start at the end of this year and is scheduled for completion at the end of next year.Mr Theadsak said the company would maintain the strategy of developing pool units following the success of its first project, the 510-million baht The Next in Lat Phrao 44. The company has sold 60% of The Next 2 from presales so it expects to close sales as soon as possible. Many customers are foreigners and corporate clients buying units for overseas customers.
He said KD Asset planned to launch another low-rise condominium, worth less than 500 million baht in the Sukhumvit area early next year. It will increase the proportion of pool units to 60% from 40% in two previous projects.
If the economic and political situation improves next year, Mr Theadsak aims to launch three new projects, worth up to 500 million baht each. The company expects to earn 400 million baht in the first quarter of next year, partly by transferring units in its first project.
KD Asset is a developer in Mukdahan operating three mid-sized hotels that serve people doing business in Laso. It plans to add a new 70-room hotel and a five-star hotel on the bank of the Mekong River.
By : Bangkok Post (26 September 2007) |
