Connect with us
The clever new way to send money abroad

Thai property developer Habitat plans to mobilise funds via IPO in 2019

Currently, Habitat has six ready-to-move and ongoing projects in Pattaya, which are designed for investments and managed for rental by professional hotel chains including X2 and Best Western

Published

on

Habitat Group, a Thai developer of premium property, plans to raise up to 1.5 billion baht ($46 million) in its initial public offering (IPO) scheduled for the second half of 2019.

The company will use most of the IPO proceeds to acquire more lands for new developments and nearly 20-30 per cent as working capital, Chanin Vanijwongse, CEO of Habitat Group, told DEALSTREETASIA.

Habitat Group has a registered capital of 181 million baht currently, which would be enhanced before the company looks to see nearly 20 to 25 per cent in the upcoming IPO, he added.

Vanijwongse stepped into real estate in 2004 as a personal investor before turning into a property developer by establishing Habitat Group in 2012.

Currently, Habitat has six ready-to-move and ongoing projects in Pattaya, which are designed for investments and managed for rental by professional hotel chains including X2 and Best Western.

“I chose to start developing the projects in Pattaya because the land price is not so high as Bangkok,” said the CEO. “However, we are now ready to develop projects in Bangkok, which will accelerate our growth aggressively.”

The company has projected total pre-sales will hit 1.2 billion baht ($36.8 million) with a backlog of around 2 billion baht ($61.3 million) in 2017.

“We will recognize the revenue of about 300 million baht ($9.2 million) this year. However, according to our plan, our revenue recognition will surge to 700 million baht ($21.5 million) in 2018 and exceed 1 billion baht ($30.7 million) in 2019 once ongoing projects are completed,” he explained.

He said the Thai property industry in the first three quarters should expand slightly from the same period last year, but it will recover in the fourth quarter due to more stability in the country. “Those property developers who target the low-priced market will face tough situation, but I believe that the mid-to high-end market will still grow around 3-5 per cent this year,” he added.

Also read:

Thai developer Bhiraj Buri to raise $183.8m via its first REIT

Thai-listed Sansiri acquires 50% stake in local property developer
Source link

DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.

DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.

Click to comment

Leave a Reply

Tourism

Can border reopening revive tourism in South-East Asia?

In Thailand, where pre-pandemic tourism accounted for 11-12% of GDP, the country lost an estimated $50bn last year as Covid-19 restrictions led to an 82% fall in arrival numbers.

Published

on

Ko Samed deserted pier

After 18 months of travel restrictions, a number of countries in South-east Asia have begun opening their borders to foreign visitors to stoke recovery in their respective tourism industries.

(more…)
Continue Reading

Travel

Thailand dropped from UK’s tough covid-19 travel ‘red list’

Earlier, Thailand was listed among countries with high infection levels that were put on a ‘red list’, requiring arrivals to spend 10 days in a government-provided quarantine hotel, and must periodically have a PCR test or other tests.

Published

on

A man sat in an airport with his feet on a suitcase. A place is taking off in the background

From Monday, 11 October onward, fully vaccinated travelers from Thailand will not be subjected to Covid-19 quarantine, according to the latest announcement of the UK government.

(more…)
Continue Reading

Most Read

Recent