Siamese moves forward to establish luxury condominiums
Siamese moves forward to establish luxury condominiums ignoring the sluggish economy and continuing to establish 4 new condominium projects in the second half of this year which expect at the end of the year will be gain income about 2,000 million baht.
Mr. Kajohnsit Singsunsern, a chairman of the board and acting managing director of Siamese Asset Company Limited revealed that in the second half of this year, the company has planned to continuously launch a new project called the Siamese Sathorn - Charoenrat Project on an area of 7 rai, worth 3,000 million baht. It is 8th floor condominium and 4th buildings more than 700 units and an office condo 1 building where it has 7 floors about 100 units. It is expected that It will be officially on sale from October 1 onwards. Currently, 2 buildings have been sold to investors from China worth 1,200 million baht. There is also a plan to launch the Siamese Queen project at the end of this year or at the beginning of next year.
It is a 35-storey condo on 2 rai of land worth 2,500 million baht, a total of 300 units and the Siamese Sukhumvit project is 35 -40 Floors, total 200 units, value 1,300-1,400 million baht, the average selling price is 100,000 baht per square meter.
It is expected to be available for sale early next year.
However, the company has recently launched the Siamese Exclusive project, a 21- storey condominium with 192 units worth 2,300 million baht, starting price of 8 million baht per unit. Currently, there is more than 190 reservations from the entire project. There are 192 units which are excluded 320 registered customers who are interested in the project as well.
The company has set a target to receive revenue this year by 2,000 million baht with the first half more than 1,000 million baht. It will have a revenue of 6,000 million baht and set a sales target of 5,800 million baht in this year. The first half has sold more than 2,000 million baht
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