Property firm LPN Development expects sales revenue to rise by Bt9.6 billion by the end of this year, a 20-per-cent growth, spurred by strong demand for city condominiums in line with the economic recovery that began in the second half of last year. To achieve its revenue target, the company plans to launch six to eight new condominium projects this year, worth Bt13 billion, managing director Opas Sripayak said.
The company recorded pre-sales of Bt10 billion and revenue of more than Bt8 billion at the end of 2009, up 20 per cent and 11 per cent respectively from 2008, thanks to a surge in demand in the second half of the year, he said.
The company plans to launch three new condominium projects worth Bt6.1 billion in the first quarter of this year, he said. They are: Lumpini Condotown Bangkae, Lumpini Place Rama 9 phase 2, and Lumpini Place Phahon-Ratchada worth totally Bt6.1 billion.
Meanwhile, the company on Thursday purchased land on Ratchayothin from Metro Star for Bt680 million. The investment came out of last year's budget. Condominium projects worth Bt3 billion will be developed on that land, which will be open to pre-sales in the second quarter of this year.
Is There a Silver lining amid COVID-19?
Thinking of the future impact of this pandemic on office buildings, it may have already dawned on many of us that a majority of potential long-term trends and health measures will become permanent work-life features in the times to come.
The time is ripe to embrace Industry 4.0
Traditional brick-and-mortar retail has suffered tremendously, as countries have been implementing effective stay-at-home and social distancing policies to mitigate virus spread, while those worst hit have enacted strict draconian lockdowns
We have entered a time where, seemingly, interconnectedness is the new enemy, staying in is the new going out, and antisocial is the new social. COVID-19 has brought us on the cusp of growing accustomed to new norms and sounded a wake-up call in terms of how we live.
Covid-19 puts flexible space markets under strain
In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.
The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.
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