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.
Bangkok falls 19 places to 49th most expensive location worldwide
Locations reliant on international tourism have seen their rental markets hit especially hard during the pandemic, resulting in some major drops in the rankings. Bangkok has fallen 19 places to 49th, while Hanoi saw a similar drop of 12 places to 81st.
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.
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