SET-listed developer Sena Development Plc plans to launch three new projects worth a combined 4.86 billion baht by late September to boost sales this year.
Deputy chief executive Kessara Thanyalakpark said the three new projects would be the final ones launched this year after having begun six projects worth a combined 4.1 billion baht in the first seven months.
"We postponed one project launch to early next year because it will be a better time than the final month of the year," she said.
The postponed development will be a joint venture condominium with Japanese property firm Hankyu Realty Co.
The Niche Pride Taopoon Interchange is scheduled to have 777 units worth 3.5 billion baht on a three-rai plot near the Tao Poon subway station.
She said momentum from the recent launch of the 1.2-kilometre missing link rail service connecting the Purple and Blue lines make it an appropriate time to launch a new project in this location.
"Clear-cut infrastructure will have a strong impact on sales of residential projects in locations it will pass," she said. "The missing link is expected to also help absorb the current [unit] supply along the Purple Line." The opening of the missing link has now ended the need for a 30-minute bus ride between the two electric train stations during rush hours.
Despite the project being postponed to next year, Sena maintains a presales target of 4.6 billion baht by the end of the year, an increase of 20% from last year, as one of the new projects being launched next month was over booked.
This will be Sena Eco Town Ramindra-Wongwaen with 20 five-storey buildings and a total of 480 condominium units priced from 1.59 million baht worth 985 million baht on a 12-rai plot on Ram Intra-Ring Road with a Japanese Zen theme and simple style despite it not being a Japanese joint venture project.
"Concerns about risk factors remain but the overall property market is in an upward trend," Ms Kessara said. "Developers should build their own identity to differentiate from others to increase competency in a highly competitive market."
The joint venture project with Hankyu to be launched this year will be Niche Mono Sukhumvit-Bearing, comprising 1,467 condominium units worth 3.4 billion baht which will be launched during Sept 30-Oct 1.
The firm expects to make 2 billion baht in presales over the remainder of the year. It recorded nearly 3 billion baht in the first seven months.
Sena has 500-600 completed, unsold condominium units for sale worth around 1 billion baht covering seven projects. It was not worried about clearing the remaining properties as they account for a small number of units at each project.
SENA shares closed yesterday on the Stock Exchange of Thailand at 3.68 baht, down two satang, in trade worth 3.99 million baht.
