Pruksa Real Estate, the property development arm of SET-listed Pruksa Holding Plc (PSH), will stress more variety in housing design and residential architecture for its townhouse products as it tries to maintain its leadership position in the segment.
Theeradej Kerdsamang, chief executive for the townhouse division, said the new townhouse projects it plans to launch in the second half will have European designs, including Greek, British and Italian styles.
"We redesigned our townhouses to attract buyers," he said. "We also applied some universal designs to townhouse projects like ramps and will add more features related to healthcare, making them more accessible to the elderly."
Pruksa plans to launch 25 new townhouse projects in the second half after opening 19 sites in the first. The total combined value of the new projects is 27.85 billion baht.
Of that amount, 10 projects worth 6 billion baht will be in provinces including Phuket, Chiang Mai, Chon Buri and Rayong, where the developer has previously operated.
The company also aims to break ground in Chachoengsao this year.
Pruksa aims to have 22 billion baht in townhouse presales by the end of the year, up from 20 billion last year. Of the target, 19 billion baht will be from projects in Greater Bangkok and the rest in other provinces.
Revenue from townhouses is targeted at 23 billion baht, up from 22 billion last year, said Mr Theeradej, formerly managing director for townhouse group 1. He was promoted to chief executive for townhouses earlier this year.
In the first quarter, Pruksa's townhouse presales were down 7% year-on-year to 4.78 billion baht and revenue dropped 4.9% to 4.55 billion baht. The first-quarter presales made the developer's market share decline to 18% from 22% as of the end of 2017.
According to Pruksa's market research, the total market value of residential presales in Greater Bangkok this year will grow 11% to 479 billion baht from 432 billion in 2017.
Of this amount, 88.7 billion baht will be townhouse presales, up 14% from 77.9 billion last year.
"To hold onto market share, we will continue with our strategy of competitive pricing, fast installation with precast [concrete] and partnerships with financial institutions to offer mortgage loan campaigns, apart from revising our designs," he said.
Expansion covering 20 key provinces nationwide is also in the works by 2020.
New locations in 2019 will include Nakhon Pathom, Saraburi, Nakhon Ratchasima and Khon Kaen. The company plans to launch seven new projects this year in Chon Buri, which has a total market value of 44 billion baht, second to Greater Bangkok.
PSH shares closed yesterday on the Stock Exchange of Thailand at 19.30 baht, a decrease of one baht, in trade worth 194 million baht.
