SC Asset Corporation Plc, the property arm of former premier Thaksin Shinawatra's family, plans to introduce lower-priced townhouses with a new ''fighting brand'' in response to decreases in purchasing power, says executive vice-president Kree Dejchai.
He said a new project under a new brand would be launched by the fourth quarter of the year. It would be located on a 10-rai site in the Vacharapol area, comprising 114 units with prices starting at two million baht.
''During an economic slowdown, we need to shift development,'' said Flt Lt Kree, a former senior executive director of the listed developer Quality Houses.
SC will also open new phases of its
Average unit prices for both projects would range between five million and seven million baht, lower than previous phases where units cost 8-10 million baht. They would have new housing designs with more space, he said.
Currently, SC's housing stock consists of 18 units on the Rama V site and 40-50 units at Rarm Intra, with unit prices of 8-10 million baht. Since all units have already been built, SC has renovated some of them for re-launching to customers at the same prices.
Flt Lt Kree joined SC last month and has been responsible for low-rise residential developments.
SC's new strategy is to focus on direct marketing with more activities at each project site to attract customers.
With the new focus, sales from single houses and townhouses have risen from 25 million baht to 50-60 million baht per week. During the first quarter of the year, it had 545 million baht in sales and generated 916 million baht in revenue realisation with a net profit of 222 million baht. Two-thirds were from residential sales and one-third from office rents.
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