Asian Property Development lifts 2008 revenue target

Rhythm Ratchada

Rhythm Ratchada

Asian Property Development Plc (AP) is more bullish about the second half of the year, planning to launch 12 projects worth 17 billion baht, said executive vice-president Visanu Suchatlumpong.

The company has also revised up its revenue target from eight billion baht to nine billion baht by the end of the year. It expects to have eight billion baht in sales during the remaining five months of the year after recording seven billion baht in the first seven months.

”The second half will be better than the first half when we launched only three projects,” said Mr Visanu. ”Fuel prices are on a downward trend while steel prices have tended to be stable so contractors will not panic anymore.”

Among the 12 projects, seven will be low-rise units worth a combined 6.32 billion baht.

There will be three single-housing projects on Sukhumvit Soi 113, Rattanathibet and Rarm Intra. Another four projects will be townhouses _ two each in the Lat Prao area and on Srinakarin Road.

The company will launch five condominiums worth a total of 10.94 billion baht. Two projects would be under the Rhythm brand located on a six-rai site, comprising 881 units worth 3.2 billion baht with a starting price of 90,000 baht per square metre.

Another Rhythm project will be located on a three-rai site in the same location, comprising 659 units worth 1.65 billion baht. The company has also acquired another two plots on Ratchadaphisek Road for the development of two Rhythm projects next year.

AP will also launch a new luxury brand for two projects located in Sathorn Soi 12 and Sukhumvit Soi 28, comprising 496 units worth 3.4 billion baht and 219 units worth 1.89 billion baht. Another project will be The Address Phaya Thai with 153 units worth 800 million baht.

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