Thailand luxury home builder sees further gains

Thailand luxury home builder sees further gains
Published: 03 January 2000

The Emperor House Co Ltd expects its home-building business to grow at least 10 per cent next year, as the economy is forecast to keep expanding at 4.5-5 per cent. Managing director Suratchai Kunhakij told The Nation yesterday that demand for building luxury residences priced over THB20m had continued to grow by 10 per cent this year. The luxury segment will contribute THB1bn or about 10 per cent to the total home-builder market, he said. The figures are for only the members of the Home Builder Association.

The Emperor House is one of the market leaders in luxury residences, enjoying 30 per cent or THB300m of the market this year. The company expects its revenue next year to reach about THB330m. The company has launched a series of projects to cover customer demand for homes priced from THB20m to more than THB100m. It also has a backlog worth THB130m that will help it achieve its revenue forecast for next year. The cost to build a home next year will rise from 3-5 per cent, after increases in the cost of building materials such as cement and steel. "We may adjust our prices in 2011 because of our construction costs rising," he said.