SET-listed developer Golden Land Property Development Plc, owned by the Sirivadhanabhakdi family, will launch 28 new housing projects worth a combined 33 billion baht in 2019, aiming for sales growth of 10% to 34 billion baht.
Saenphin Sukhee, executive managing director, said the focus will remain townhouses, with 13 sites in Greater Bangkok worth a combined 13.8 billion baht.
The company has the second-largest market share for townhouses, at 10%, trailing only Pruksa Real Estate, which owns 20%.
"We will tap into new locations like northern Bangkok's Rangsit area and eastern areas like Bang Na-King Kaew," he said. "We will also develop townhouse in four provinces -- Chon Buri, Chachoengsao, Nakhon Ratchasima and Khon Kaen."
As duplex houses are expected to become a new housing trend next year, Golden Land will launch four such sites worth a combined 5.4 billion baht under the Neo brand for this segment in 2019.
Duplex houses are usually on a 35-square-wah plot with a usable area of between 100-120 sq metres, with unit prices of 4-6 million baht. Duplexes compete with single detached houses on 50 sq w priced from 7 million baht in the same location, said Mr Saenphin.
"Higher land prices and smaller family sizes have create the boom for duplex houses over the past two years," he said. "This segment will grow from 5 billion baht in new launches per year to 10 billion in the next few years."
Mr Saenphin said duplex houses were unpopular in the past two decades because there were 5-6 people per family and land prices were low. Today families are often only 2-3 people and land costs have risen so much that a single detached house is unaffordable for target buyers.
"In the same price range, would consumers prefer a single detached house in the Bangkok outskirts or a smaller duplex house located near the city?" he said.
During the first nine months this year, Golden Land recorded 24.9 billion baht in presales, up 50% from 16.6 billion in the same period last year. The company aims to have 31 billion baht in presales by the end of the year, up 31% from 23.7 billion in 2017.
Revenue in 2019 is projected at 19 billion baht, up 30% from 14.6 billion expected this year, an 18% rise from 2017.
GOLD shares closed yesterday on the SET at 9.45 baht, up 15 satang, in trade worth 14.57 million baht.