Tri Property aiming for B1bn in sales in 2011

The small developer Tri Property Co aims to achieve revenue of 1 billion baht in 2011 following the successful launch of its first project last year.
Tri Property plans to develop residential projects worth a combined 600 million baht in its foothold location in Chaeng Watthana and possibly in new locations in the centre of Bangkok.
The company yesterday launched its second project, the Proud X2 Condominium, in Chaeng Watthana. President Adisorn Vivakanond said the company’s market research team believed that Chaeng Watthana offered more opportunity because of urban expansion and the opening last year of the huge government office centre in the area.
“We are now in the market research process,” he said. “The response of the market in Chaeng Watthana is beyond our expectations but we are also looking for other locations for our projects, such as in Phahon Yothin and areas along mass-transit routes.”
The company has not yet decided whether its next projects will be condominiums or other residential developments such as townhouses. Despite political tensions that have hurt consumer confidence, the company has already recorded 30% sales for Proud X2 and aims to sell 50% of the units in the first month after the launch.
“The uncertainty about the political and economic situations affects our business less due to our small size,” said Mr Adisorn. “As well, our client base is Thai people who are really looking for residences [rather than speculators].”
This 320-million-baht project in Chaeng Watthana-Pak Kret Soi 19 will house 180 fully furnished units at prices starting from 1.29 million baht. Construction will start late this year and will finish around 2012.
Tri Property is a new developer run by the second-generation executives of the long-established contractor Wanchai Construction. Its initial project, Proud of Chaeng Watthana, was launched last year.
Source : bangkokpost.com