Listed property developer SC Asset Corporation has announced a strong business performance for the first nine months of this year.
Nuttaphong Kunakornwong (pictured), Chief Executive Officer of SC Asset, said his company achieved THB 8.284 billion in gross sales, up 36 percent from 2014, and THB 9.058 billion in gross income, up by 10 percent from 2014.
Operating income contributed to THB 9.030 billion of the total amount, coming from two main business activities of residential developments at 93 percent, and income from rental office business and services which accounted for the remaining 7 percent.
Gross profit accounted for 36.9 percent, and net profits totaled THB 1.068 billion, up 14 percent from 2014.
As of September 30, SC Asset had THB 8.86 billion in backlog, around 20 percent of which will be realised income this year while the remained will be realised income during the next three years.
Nuttaphong summarised the performance in the past three quarters. He said the market during the first half this year steadily expanded, especially the detached house sector priced more than THB 15 million. He said that SC Asset enjoys a 35 percent market share and is number one in this segment.
“We are confident that SC Asset will maintain its leadership in the detached home market for units priced THB 15 million and upwards during the next five years,” he said.
SC is also positive the luxury housing market will continue to grow.
During the third quarter this year the market slightly slowed but began to be buoyant during the start of the fourth quarter. These positive signals come from presales revenue of horizontal projects during October which totaled approximately THB 1.2 billion, a rise of 85 percent from September thanks to what the company said was a “Knock-Out Price” marketing campaign, as well as the government’s measures to stimulate the real estate market.
During the fourth quarter SC Asset began transferring ownership of Centric Sea Pattaya, the ready-to-move-in condominium in Pattaya with prices starting from THB 1.99 million.
It will also launch three projects valued at THB 7 billion in total. The first project is Chambers Chaan Ladprao-Wanghin, a low-rise condo with homely concept on an area of 3-3-35 rais. The main customers will be from the local demand within a 5-km radius, or from local residents that want to stay in the same premium location. Prices here will start from THB 2 million per units and the entire project is worth THB 930 million.
The other two projects are under the luxury brand “Grand Bangkok Boulevard”, located in the western part and eastern part of Bangkok: Grand Bangkok Boulevard Ratchapruek – Charan, on the new Prannok-Buddhamonthon IV Road, is located at the promising location with an eight-lane road connecting several major routes in the western part of Bangkok. The property is 15 minutes from Siriraj Hospital and located on a total area of 61-1-20.3 rai. The project value is THB 3.2 billion and will consist of 92 units, each with a starting price of THB 30 million.
Grand Bangkok Boulevard Sukhumvit is located at the beginning of Bangna-Trad Road, close to Bearing Station and BITEC Bangna, as well as Bangkok Pattana School. Located on an area of 47-3-56.1 rai, the project is worth THB 2.8 billion. It will feature 65 units starting from THB 35 million.
The latter two projects are the new series of luxury homes with new design in terms of style and interior function. Starting from four-bedrooms, five-bathrooms and three car parking spaces, the usable space starts from 484 sqm.
SC Asset has opened sales for interested people who have registered on www.scasset.com, and prior to the start of general sales next year.
Nuttaphong added that SC Asset recently developed a service innovation to cater to the changing modern lifestyle of the digital age, and to facilitate the demands from the SC family. The new service is named SC MINE, an after-sales online service.