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Developer sees growing demand

Nation Sept 12, 2009 Property firm Grand Unity Development plans to launch "two or three" new residential projects worth between Bt2 billion and Bt3 billion in the last quarter of this year. Managing director Naramit Sangaeum said that the company had spent Bt400 million to buy "two or three" land plots earlier this year to develop into two or three projects in the last quarter of the year. He added that the new projects would be located close to the mass-transit system. "We decided to launch new projects when we saw strong demand recovery in the property market, with customer visits of between 400 and 500 a month, which is higher than in the first half of the year," he said. The new projects to be launched in the last quarter of the year are expected to drive total revenue to Bt2 billion in 2011. The company expects revenue of Bt450 million at the end of this year and Bt1.2 billion at the end of 2010. Grand Unity Development is a joint venture of Univentures (60 per cent), LPN Development (20 per cent) and the Yoawawong family (20 per cent).

 

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