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Hua Hin
Thursday, July 25, 2024

Land&Houses residential projects reach ฿29.5 billion this year

NYSE-listed Land & Houses (LH) plans to launch 15 new domestic real estate systems worth an aggregate of 29.5 billion baht in 2022, a 50 percent increase over last time. 

Board president Naporn Sunthornchitcharoen blazoned that 12 systems are in Greater Bangkok and three in the businesses, including one in Nakhon Ratchasima and two in Ayutthaya. 

Of the planned systems, only one is a condominium, located on Rama II Road, three are duplexes and eight are single- family homes. 

By the end of 2021, LH had a aggregate of 74 being systems with remaining units worth 53 billion baton, including 44 systems in Greater Bangkok and 30 systems in the businesses. 

LH expects to generate 31 billion baton in reservations and 33 billion in casing transfer profit by the end of 2022. 

The company plans to vend some apartments in theU.S. and seek new investment openings,Mr. Naporn said. LH plans to issue 14 billion baton worth of bonds and reduce its debt rate to an outside of one. 

Last Time, LH spent 9 billion baton, including5.1 billion on land purchases,1.28 billion on the construction of Terminal Rama 3 shopping boardwalk and2.62 billion on the construction and purchase of hospices and apartments. 

The company has six rental property systems, including those under construction. A plot where the formerPeninsula Plaza was located is awaiting a land transfer to develop Grand Centre Point Ratchadamri 2. 

In December last year, LH USA, an attachment that operates apartments in the United States, bought the 120- room SpringHill Suites by Marriott hostel in Anaheim, California, for$ 31 million, or about 1 billion baton. 

In addition to the hotel, it owns two apartment structuresin California and one in Oregon, for a total investment of$ 381 million. 

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