Shinawatra family to build houses and condos in Hua Hin

[buksida]

SC Asset Corporation, the property arm of the Shinawatra family, has set aside Bt11 billion to develop 16 residential projects worth Bt17 billion this year.

Under its investment plan, Bt3 billion will be used to buy undeveloped land and Bt8 billion to construct the infrastructure for the projects.

Half of the funds will come from internal cash flow and half from bank loans. This will raise its debt-to-equity ratio from 0.9 times to 1.2 this year.

The plan is to boost its presales by 20 per cent to Bt10 billion this year from Bt8.1 billion last year, chairwoman Busaba Damapong told a news conference yesterday.

Of the 16 new projects, 12 worth Bt11.5 billion are low-rises - detached houses, townhouses and a home-office building. Four projects worth Bt5.6 billion are condominiums.

Two projects will be in Hua Hin and Cha-am in the first move of the company into the provinces. One is a condominium called The Crest Santora Hua Hin worth Bt1.2 billion that will be launched next month. The Cha-am project will be a low-rise that will be marketed in the last quarter.

With the new projects worth Bt17 billion combined with 16 existing residential projects for sale worth Bt11.5 billion, the company will have 32 projects for sale worth Bt28.5 billion this year.

Full Story: The Nation

[Lung Per]

SC Asset Corporation, the property arm of the Shinawatra family, has set aside Bt11 billion to develop 16 residential projects worth Bt17 billion this year.

Under its investment plan, Bt3 billion will be used to buy undeveloped land and Bt8 billion to construct the infrastructure for the projects.

Half of the funds will come from internal cash flow and half from bank loans. This will raise its debt-to-equity ratio from 0.9 times to 1.2 this year.

The plan is to boost its presales by 20 per cent to Bt10 billion this year from Bt8.1 billion last year, chairwoman Busaba Damapong told a news conference yesterday.

Of the 16 new projects, 12 worth Bt11.5 billion are low-rises - detached houses, townhouses and a home-office building. Four projects worth Bt5.6 billion are condominiums.

Two projects will be in Hua Hin and Cha-am in the first move of the company into the provinces. One is a condominium called The Crest Santora Hua Hin worth Bt1.2 billion that will be launched next month. The Cha-am project will be a low-rise that will be marketed in the last quarter.

With the new projects worth Bt17 billion combined with 16 existing residential projects for sale worth Bt11.5 billion, the company will have 32 projects for sale worth Bt28.5 billion this year.

Full Story: The Nation

Any info as to location of these projects? This might speed up freeing Hua Hin of the Prachtuabkhirikhan province, joining it with Cha Am.

[Coldmike]

I don't know where these projects are to be located, but there are two other projects planned south of Cha-am on either side of the Krisida condo.
Both projects (The Energy and Issara United) advertise themselves as Hua Hin even though they are clearly in Petchburi and officially Cha-am. Maybe they know someting?

[deepee]

The Shinawatra's were supposed to be behind the pick of a very large parcel of land backing onto beach just near the corner of Phetkasem and Chom-Pol Rd (1010 ).Know of a few people that were relocated in swap deals in the process.