Property developers in Thailand

Most home-buyers don’t trust property developers, and when they buy a house they fear that developers cannot deliver on time, or maybe they’ll deliver a low-quality home. At FazWaz, all important Pattaya property development projects are listed and updated daily. The DT Group of Companies plans to launch seven property projects worth Bt3.5 billion next year as part of its goal to be ranked among the top 10 developers in seven years.

Managing director Visit Malaisirirat said that after the company launched three property projects this year – Magnolia House on Bang Na-Trat Km 7, the Muse on Sukhumvit Road and a project in Pattaya in a joint venture with CP Land – it plans to launch seven residential projects each year of both detached housing and condominiums. This will start next year.

“Our target to be among the top 10 in the property market seven years from now. As a result we have to start aggressive investment to launch our new projects to compete with other property firms in the market,” Visit said.

The company’s residential projects will focus on both high-end and the middle markets because the company believes that both markets have strong demand.

“We offer residential projects of different designs and quality. As a result we believe that our products will match with niche markets and with customers’ demand,” he said.

“For example, the Magnolia on Bang Na-Trat Road is focused on the upper market by offering detached housing priced up to Bt25 million per unit. It received positive feedback from customers after its grand opening last year and there are now only eight units left out of a total of 25.”

Visit said that one of seven property projects to be launched next year will be built with the same concept of Magnolia but it may have a different design.

He added that the company also plans to list on the Stock Exchange of Thailand in two or three years. The company now has registered capital Bt650 million and a debt-to-equity ratio of 2.

DT Group was founded in 1993. The group has three business units: property arm DT Land, trading business DT Global and property- and services-management firm DT System and Process. In recent years, more than 70 per cent of the group’s revenues has come from its property business.

DT Land has four subsidiaries: property firm Magnolia Quality Development; D Plans, which provides integrated construction services; DI Design, which offers architectural and interior-design services; and Dpex, which provides a full range of construction services.

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