SET-listed developer Ananda Development Plc is launching sales campaigns next week to stimulate its sales and revenue amid uncertain economic prospects.
Chief executive Chanond Ruangkritya yesterday said the company would spend 70 million baht for the campaigns to be kicked off at a big sales event to be held from Aug 12-16.
"It's hard to predict [the property situation] in the second half," he said.
"There's still a question about whether the high take-up rate of condo projects launched in the first half represented a healthy market or not. If presales are very good but sold units are not transferable [due to buyers' reluctance], it will mean nothing."
Ananda has five completed condo projects with remaining units for sale or ready to transfer worth a combined 5.6 billion baht.
Ideo Sathorn-Thapra worth 3.8 billion baht is 52% sold, Ideo Wutthakart worth 2.1 billion is 52% sold, Ideo Mobi Charan Interchange worth 3.7 billion is 76% sold, Elio Sukhumvit 64 worth 2.5 billion is 92% sold, and Elio Del Ray on Sukhumvit Soi 64 worth 3.3 billion baht is 78% sold.
As of the end of June, Ananda had secured 80% of its target revenue of 10 billion baht this year.
In the first quarter, it posted a net profit of 74 million baht on revenue of 1.39 billion, down 33% and 22% respectively from the same period last year. It had a sales backlog of 34.3 billion baht.
Of the backlog, 7-8 billion baht was expected to be realised from the second to the fourth quarters.
At its sales event, the developer will launch four projects worth 11 billion baht at Phetchaburi Road, Sukhumvit Soi 31, Bang Na and Sukhumvit Soi 115. It aims to collect 4.4 billion baht from presales.
ANAN shares closed yesterday on the SET at 3.34 baht, up six satang, in trade worth 12.7 million baht.
SET-listed developer Ananda Development Plc is launching sales campaigns next week to stimulate its sales and revenue amid uncertain economic prospects.Chief executive Chanond Ruangkritya yesterday said the company would spend 70 million baht for the campaigns to be kicked off at a big sales event to be held from Aug 12-16."It's hard to predict [the property situation] in the second half," he said."There's still a question about whether the high take-up rate of condo projects launched in the first half represented a healthy market or not. If presales are very good but sold units are not transferable [due to buyers' reluctance], it will mean nothing."Ananda has five completed condo projects with remaining units for sale or ready to transfer worth a combined 5.6 billion baht.Ideo Sathorn-Thapra worth 3.8 billion baht is 52% sold, Ideo Wutthakart worth 2.1 billion is 52% sold, Ideo Mobi Charan Interchange worth 3.7 billion is 76% sold, Elio Sukhumvit 64 worth 2.5 billion is 92% sold, and Elio Del Ray on Sukhumvit Soi 64 worth 3.3 billion baht is 78% sold.As of the end of June, Ananda had secured 80% of its target revenue of 10 billion baht this year.In the first quarter, it posted a net profit of 74 million baht on revenue of 1.39 billion, down 33% and 22% respectively from the same period last year. It had a sales backlog of 34.3 billion baht.Of the backlog, 7-8 billion baht was expected to be realised from the second to the fourth quarters.At its sales event, the developer will launch four projects worth 11 billion baht at Phetchaburi Road, Sukhumvit Soi 31, Bang Na and Sukhumvit Soi 115. It aims to collect 4.4 billion baht from presales.ANAN shares closed yesterday on the SET at 3.34 baht, up six satang, in trade worth 12.7 million baht.
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