The company will launch two low-rise condo projects worth 400 million baht each in the second half of 2015 and plans to develop a high-rise condo project and a low-rise condo project worth a combined 2.4 billion baht next year, all on Sukhumvit Road.
A new addition with recurring income is Landmark Mahachai in Samut Sakhon province. The mixed-use project will sit on 16 rai under a 30-year lease from the State Railway of Thailand.
Landmark Mahachai will comprise 101 shophouses priced at 8.5 million baht each for a 30-year leasehold and a community mall with a lettable area of 5,700 square metres and rental rates of 600 baht per sq m per month. EMC expects to close sales of shophouses this year and break even in two years.
The project will open for business in early 2017 and reap annual rental revenue of 36 million baht at full occupancy.
EMC shares closed yesterday on the SET at 79 satang, unchanged, in trade worth 6.87 million baht.