The Sea Samui, worth Bt550 million. ( Sinthoranee Property)Wuttichai said the company was also studying a possible residential project in Hua Hin, in order to support strong demand in that market.
“We believe in the next two years, we’ll launch new property projects – residential, retail, hotels and resorts – that will generate more income for our property business,” he said.
The Sea Samui is part of its business expansion this year and has sold 40 per cent of its Bt550-million value. The Sea Samui will have six villas and 15 units of low-rise condominiums starting at Bt7.6 million per unit and covering 66 square meters.
Wuttichai said that up to 70 per cent of its customer target for The Sea Samui was foreign investors wanting a vacation home or a second home on Koh Samui, with the rest coming from the domestic market.
The company expects Bt200 million worth of sales from The Sea Samui this year. Total revenue is expected to be Bt310 million, with Bt50 million of that coming from rental fees for Pavilion Place and Bt60 million from the two villas of La Bay Buri de Pran. Sinthoranee’s total revenue target for this year is double last year’s Bt100 million.
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