With all the speculation going on about if Pattaya is getting over saturated with condo projects or even in Thailand i think this puts things in perspective. revenue is up 56% from the first half of the year and half of these property firms will be delivering their projects ready for transfer by the end of this year. Here's is Sept 3 article from "The Nation"
Fifteen listed property firms will show revenue from their condominium
projects totalling at least Bt100 billion in the second half of this year, up 56
per cent from the first half thanks to transfers of completed condos to
customers, according to research by Asia Plus Securities.
The research said
85 main condominium projects worth Bt179 billion developed by the top 15 listed
property firms would be ready for transfer in the current half. These companies
also have low-rise residences ready for sale, with transfers to customers in the
second half worth Bt37.3 billion. Total backlog is worth Bt216.3
billion.
The top 15 property firms listed on the Stock Exchange of
Thailand are Pruksa Real Estate, Land & Houses, Sansiri, Quality Houses,
Asian Property Development, SC Asset Corporation, Supalai, Noble Development,
Lalin Property, Property Perfect, LPN Development, Major Development, Sena
Development, Raimon Land, and MK Real Estate Development.
"We target
total revenue from their condominium backlog of at least Bt100 billion, or half
of their condominium projects worth Bt217 billion, that will be completed and
ready to transfer this year," the research said.
This will drive the
net-profit margin of these companies to 15 per cent in the second half, better
than the average 13.01 per cent in the second quarter of this year.
The
top 15 reported total revenue of Bt63.9 billion in the first half, comprising
Bt29.4 billion in the first quarter and Bt34.5 billion in the
second.
They also showed net profit of Bt8.06 billion in the first half,
Bt3.57 billion recorded in the first quarter and Bt4.49 billion in the
second.
The total presales of the 15 companies covered by the research
were
worth Bt54.3 billion in the second quarter compared with Bt50.5
billion in the first quarter, so overall in the first half they booked presales
of Bt105 billion.
LPN Development managing director Opas Sripayak said it
would book revenue of at least Bt10 billion in the current half of the year
after transfer of its condominium projects to customers in the third and fourth
quarters. They include Lumpini Park Rama 3-Riverside, Lumpini Ville Pattanakarn,
Lumpini Ville Piboonsongkram-Riverview, Lumpini CondoTown North
Pattaya-Sukhumvit, and Lumpini Ville Chaengwattana-Pakkret.
Property
Perfect chief executive officer Chainid Ngowsirimanee said the company would
have Bt3 billion worth of condominium projects ready to transfer to customers in
the current half. This will drive its revenue to Bt12 billion by the end of the
year.
Sansiri president Srettha Thavisin said it would have Bt15.8
billion worth of residential projects ready to transfer in the second half after
the company delivered 3,185 units worth Bt10.16 billion in the first six
months.
Asian Property Development has four condominium projects ready to
transfer. They total 1,564 units worth Bt8.69 billion at The Address Sathorn,
The Address Asoke, The Address Sukhumvit 61, and Aspire Srinakarin.
Most
of the condo projects ready to transfer in the current half have been launched
since 2010, the year.
