Developers optimistic of good growth

With concerns about flooding eased, large and small developers are looking forward to double-digit growth this year and stepping up rebranding of their corporate images amid stiffer competition in the housing market.

SET-listed developer Asian Property Development Plc (AP) plans to spend 400 million baht on rebranding after introducing a new logo in August.

An innovation team will work on redesigning houses, creating new housing functions and developing a new market segment of single houses.

Vittakarn Chandavimol, AP’s chief marketing officer, said one location will be near Bodindecha School, where it will develop single houses priced about 15 million baht. Another location is being selected.

As at the end of October, AP had recorded 17.3 billion baht in presales. It aims to achieve 20 billion baht by the end of the year, up from 16.3 billion baht last year.

Revenue this year will be 17 billion baht, up from 13 billion baht last year. It has a sales backlog of 31 billion baht.

The company has set an annual growth target of 15-20%.

In 2013, AP will spend 3 billion baht to buy new plots and will launch around 18 new residential projects worth more than 22 billion baht.

Small developer Chanuntorn Development Group Co has also rebranded its image as it aims to tap the condominium segment for the first time in its 30 years of business.

Senior marketing manager Sarinya Ruengpanyawut said the company would capitalise on its cost advantages to compete with large developers.

It plans to develop a project of single houses in Bangkok’s Bang Na district next year.

Published in Bangkok Post: 6/11/2012 at 12:00 AM
Newspaper section: Business

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