Charn Issara Development Plc plans to invest 1.5 billion baht in two new projects in Cha-am and Phuket this year, reflecting its confidence in the property market.
The two projects are a beachfront condominium in Phuket and a resort in Cha-am, according to managing director Songkran Issara.
The SET-listed developer (CI) will buy between 10 and 20 rai of beachfront land worth 300 million baht in Phuket to develop a condominium while the Cha-am resort will be built on its own five-rai plot. Both projects are expected to be launched by the end of this year.
Last year, the company introduced the Baan Chaan Talay condominium in Cha-am worth 1.4 billion baht, which is developed by its subsidiary Charn Issara Viphapol Co.
Charn Issara Viphapol already sold 40% of the total 175 units worth about 600 million baht. Sales are projected to rise to 80% this year, and he considers the condo price increases by 5-10% in March.
Fan Kanjanathiemthao, managing director of Knight Frank Chartered (Thailand), sales and marketing agent Shaan Baan Talay, said he was confident that the project will be successful, because the economy should revive in the new government in place.
Last year the company started four projects, including Shaan Baan Talay Cha-am, the Issara Ladprao, Issara On Sukhumvit 42 and Sri Panwa Phuket.
No comments:
Post a Comment