While the COVID-19 pandemic has slowed many developers down in 2021, Supalai has bucked that trend and continues to be active. The homebuilder recently announced plans to launch 22 new projects before the end of the year while also noting it remains on track to hit its record-breaking record revenue goal of THB28 billion.
Supalai has focused on low-rise projects this year having launched nine such developments during the first six months. This is in line with general Bangkok property market trends that show real demand is relatively confined to the low-rise sector since the outbreak of COVID-19.
Related: This year will see more Thai developers tap into the low-rise housing market
Current plans call for the firm to bring seven low-rise developments to the market in the third quarter of this year with 11 more slated to be launched during the last three months of 2021. Additionally, Supalai is set to unveil four high-rise condominium projects in the fourth quarter.
Supalai Managing Director Khun Tritecha Tangmatitham told the Bangkok Post that the firm does not expect the COVID-19 pandemic to alter its plans for the remainder of the year, although it will continue to monitor the situation closely and make adjustments if necessary.
The developer has found the THB3-5 million segment to be the strongest in 2021 since mid-range customers and government employees whose incomes are stable have been less affected by the pandemic. Most of its launches this year have been in this price range.
According to Khun Tritecha, Supalai is primed to reach its record-breaking revenue goal of THB28 billion before the year’s end. In the first half, the company posted total revenue of THB11 billion, a 60 percent increase over the same period last year, while earning THB13 billion in presales. The new launches are expected to see these sums improved upon during the final six months of 2021.
