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03/03/2011 - Thailand property developer, Supalai, announces 16 new projects  03/03/2011 - Thailand property developer, Supalai, announces 16 new projects

03/03/2011 - Thailand property developer, Supalai, announces 16 new projects

Thailand property developer, Supalai PLC, has announced the launch of sixteen new projects with a combined value of twenty billion baht (US$656 million).

The new projects are all located in Bangkok city centre and are aimed at providing affordable housing for buyers who currently live in the suburbs but are concerned with rising transport costs and travel times.

Supalai predict that a total of 17 billion baht (US$ 557 million) in sales and thirteen billion baht (US$ 426 million) in future revenue will be generated from the new property developments.

The company also intends to develop further projects throughout Thailand in the provinces of Chiang Mai, Khon Kaen, Phuket, Hat Yai and two more, yet to be announced.

This year Supalai have already reported 1.3 billion baht (US$ 42.6 million) of property sales, an increase of two hundred percent year-on-year.

Currently the property developer has a total of 15.09 billion baht (US$ 495 million) worth of unsold inventory across a number of projects.

However, Supalai are continuing to look towards future expansion and have announced their intention to invest a further 4.5 billion baht (US$148 million) in land for future projects.

"We're looking for an overseas investment in the region but have no plan in the short term," commented executive director, Tritecha Tangmatitham.

"We remain focused on the Thai market as property margins are the highest in the region and there are barriers to entry to foreign investors." he added.

Supalai PLC operate a number of subsidiaries under the following names; Supalai Property Management Co., Ltd., Hatyai Nakharin Co., Ltd., Supalai Isan Co., Ltd. and Phuket Estate Co., Ltd. Supalai PLC shares trade on the Thailand Stock Exchange.







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