This time the company is going up-market from its first-home buyer market with units that should attract wealthier Thais and foreigners.
The 13.5 rai of beachfront land will be the site of the Baan Mai Khao condominium project project, which will be launched early in March.
A spokesperson for Sansiri told The Phuket News, “The project value is B2.7 billion. It is a beachfront low-rise condominium with units starting at B7.8 million.”
The Bangkok Post commented that the company is on a roll, and has set its sights on revenue growth of 30 per cent in 2013, to reach 36 billion baht this year, boosted by a strong backlog.
Sansiri ended 2012 with its sales of 42.1 billion baht, its highest yet, more than double its 2011 sales, and outstripping its B40-billion target.
The company last year launched 52 projects worth B57 billion across the country and in all segments of the market, including condos, single homes, home offices and shophouses.
“The outstanding sales performance was mainly thanks to the company’s strategic plans to penetrate provincial markets such as Hua Hin, where the company is the condominium leader,” said managing director Srettha Thavisin.
In 2012, the company launched 24 provincial projects worth 21 billion baht, nine of which were in Hua Hin, eight in Phuket, two in Chiang Mai, three in Khao Yai, one in Pattaya and another in Khon Kaen.
Sales from provincial markets rose to 40 per cent overall, besting a 15 per cent target set in early 2012.
“Our developments in the provincial market were overwhelmed by the response last year, allowing the company to close sales rapidly and continuously,” said Mr Srettha. “We expect sales from provincial markets to continue growing.”
He attributed the historic sales growth to a sophisticated precast factory that opened last March. The B600-million plant in Pathum Thani province has a monthly capacity of 150 houses, helping speed delivery.
“We expect to achieve revenue as projected, as Sansiri has a presale backlog worth up to B53 billion over the next three years, 50 per cent of which is likely to be realised this year,” said Mr Srettha.