SC committed to B12bn in 2017 projects
Single homes and townhouses planned
SET-listed developer SC Asset Corporation Plc is confident of meeting its revenue and presales target, and plans to launch 11 new single house and townhouse projects worth a combined 12 billion baht in the second half of the year.
Chief executive Nuttaphong Kunakornwong said the overall residential market in the first four months had improved, particularly for single houses and townhouses priced between 3-10 million baht a unit, which saw significant growth in the period.
“The momentum will continue throughout the rest of the year,” he said. “This segment had very good sales in the overall market despite banks’ higher rejection rate.”
Luxury homes were also another segment with steady growth due to healthy demand, he said.
Last weekend, SC launched high-priced single house project Grand Bangkok Boulevard Srinakarin, with units priced from 25 million baht and recording 300 million baht in sales in the two-day launch, compared with usual 350-400 million baht per month during the launch period.
SC has nearly 6 billion baht in presales and aims to have 16 billion baht by the end of the year.
It reported presales of 3.24 billion baht in the first quarter, up 30% from the same period last year, boosted by single house and townhouse priced between 3-10 million baht and a high-end condo project, 28 Chidlom.
The company has a sales backlog of nearly 9 billion baht, of which 30% will be realised from April-December this year. It has targeted 14.8 billion baht in revenue by the end of the year, 18 billion baht in 2018 and 20 billion baht in 2019.
In the first quarter, it posted a 47% yearon-year decrease in revenue to 1.74 billion baht.
SC yesterday ventured into after-sale services through a co-investment with Fixzy Co, a startup firm for handymen. SC invested 10 million baht or 10% stake in Fixzy through its subsidiary, SC Able Co.
“By 2019 we will have more than 16,000 customers,” said Mr Nuttaphong.
SC shares closed yesterday on the Stock Exchange of Thailand at 3.36 baht, up 4 satang, in trade worth 4.35 million baht.