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Landy lowers sales estimates this year

Home builder Landy Home (Thailand) Co expects to achieve 70% of its sales target this year or about 400 million baht due to political turmoil, said managing director Phiched Maneerattan.

In its first quarter this year, the company generated only 70 million baht or 50% of its target as many potential buyers hesitated on committing to a big-ticket item because of poor sentiment. Most of its current work is contracts signed in the second half of last year.

However, Landy believes the situation will improve in the second half of this year as customers relax from the political tension and start considering building a house.

Mr Phiched believes the trend of rising crude oil prices will become another positive factor to stimulate customers' decisions.

The company will try to stimulate sales by lowering prices. Its starting price is 11,500 baht a square metre while others are quoting approximately 14,000 baht, so its two-storey unit with 130 sq m of usable space would be priced at 1.5 million baht.

Landy Home has applied its semi-finished construction technology to build as this helps reduce costs.

Mr Phiched added the company tried to be proactive in marketing to improve its distribution channels by enlarging its branches so Landy could show actual housing samples to customers.
Bangkok Post May 4, 2009