SL plans two new projects

The medium-sized property developer SL Estate Co plans at least two new projects worth a combined one billion baht within next year, according to managing director Surin Ongvasit. The company next month plans to launch its first condominium, Amara Kao Tao Hua Hin, worth approximately 550 million baht.

It will have 97 units with an average size of 60 square metre sand prices from 75,000 baht per sq m, and three beachfront villas.

It expects 60% of the buyers would be Thais and the rest foreigners.

SL Estate expects to generate 40% of sales for its new project within this year and be able to close sales for the whole project in 18 months.

In Bangkok, the company aims to have at least one low-rise project next year and it is now reviewing potential sites including Kaset-Navamin, Rarm Intra, Lat Phrao, Ramkhamhaeng and Rama IX.

Vorapoj Dejudomvitaya, the company's deputy managing director, said SL Estate may develop two projects, worth around 500 million baht each, in Bangkok if it could acquire small plots of land.

SL Estate currently has two ongoing projects, the Park Rachavadee townhouses and the Royal Rachavadee detached houses. Both projects, worth 500 million baht each, are located in the Rama II area and are 80-85% sold.

The company expects to close sales of the two projects in the first half of next year.

It targets 300 million baht in revenue this year.

sas