Property developer Ananda has announced that following strong sales results from both new and existing projects during the second quarter, it will be adding an additional project to its second half launch schedule.
It was also raising its total launch revenue amount for the year by 11 percent to THB 35.9 billion.
The April to June period saw the listed company launch one new condominium project, one new brand and enter a new sector of the market with the Unio concept of sub-THB 1 million units, and three housing projects under the new Arden brand. All projects were launched in mid-June and were approximately 25 percent sold by the end of June, the company said.
Including sales from existing projects, the company generated total presales for the quarter of THB 3.11 billion, 53 percent above guidance for the quarter. Presales for the first half totaled THB 12.3 billion representing 54 percent of the company’s initial annual presales target of THB 23 billion. The company announced an increase in its presales target for the year to THB 26 billion.
Commenting on the success of the recent launches, Ted Thirapatana, Chief Business Development Officer for Ananda, said: “The launch of Unio was a new model for us. Including building the sales office, the total marketing budget for this project was only THB 6 million so sales have come exclusively from word of mouth and local interest.
“Sales of more than THB 600 million in the first two weeks were very gratifying given this absence of marketing, and indicate real end-user demand.
“The three Arden housing projects were launched as part of our overall company strategy of keeping housing at around 20 percent of the company’s total portfolio, and we needed to restock as our Atoll projects have been selling well.”
Chanond Ruangkritya, Chief Executive Officer of Ananda, said: “We are delighted to continue to achieve such strong results in the quarter, and in particular that we are maintaining our growth and performance while maintaining a strong discipline on costs and borrowing.
“Ananda is the market leader in Bangkok mass-transit living, and through the constant innovations in both building design and every other aspect of real estate development, we aim to maintain our leadership in the condominium market.
“As evidence of this, this week we became the first Thai real estate company to issue a perpetual security which will allow us to reduce our risk by reducing our debt to equity without diluting shareholders – like an equity issue would.”
