<\/strong><\/span>Major Development is set to deliver the project “Maestro 07 Victory Monument”<\/strong> <\/span>with 171 units valued at 800 million baht for customers to move in starting today. The project has successfully sold out in just 2 days after the pre-sale launch. Currently, resale prices have risen to 174,000 baht/sq.m., up from 140,000 baht/sq.m. in 2016, marking an increase of nearly 20%. It is anticipated that by the end of this year, 100% of the units will be transferred, while the Victory Monument area continues to boom with land prices increasing by nearly 10% per year, currently reaching 850,000 baht per sq.w. The company expects total revenue this year to grow compared to last year, with confidence that sales will meet the target of 30 billion baht.

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          Ms. Petchlada Poonsawad, Executive Director of Major Development Public Company Limited<\/strong><\/span> revealed that the company is preparing to recognize revenue in 2018, recently transferring the low-rise condominium project “Maestro 07 Victory Monument”<\/strong> <\/span>with 171 units valued at 800 million baht for customers to move in from today onwards. This project marks the fifth condominium delivered to customers this year, and it is expected that 100% of the project will be transferred by the end of this year, following the successful 100% transfer of all previous projects delivered this year, including Maestro 01 Sathorn-Yen Akat, Maestro 14 Siam-Ratchathewi, Maestro 03 Ratchada-Rama 9, and M Chatuchak.

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          <\/strong><\/span>“Maestro 07 Victory Monument has been successful since its launch, achieving rapid sales closure in just 2 days after the pre-sale began. The Victory Monument area is a significant location in Bangkok, serving as a transportation hub connecting multiple roads for entering and exiting the city, including Phaya Thai, Phahonyothin, and Rajvithi roads. It is close to expressway access points, government offices, and over 20 leading hospitals and medical institutions, resulting in a high concentration of medical professionals such as doctors, nurses, pharmacists, and faculty members, as well as over 10,000 medical students each academic year. Additionally, King Power Rangsit serves as a checkpoint for tourists, further increasing demand in this area.

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          <\/strong><\/span>The demand in the Victory Monument area continues to rise from both Thai and foreign residents. However, new project developments in this area are rare, leading to limited supply since most of the land is state-owned and cannot be developed. As a result, the resale price of Maestro 07 Victory Monument has increased to 174,000 baht/sq.m., up from 140,000 baht/sq.m. in 2016, representing an increase of nearly 20%, with an average rental yield of 4-5% per year. The land prices in the Victory Monument area have also been consistently rising, averaging nearly 10% per year, currently priced at 850,000 baht per sq.w.,” said Ms. Petchlada.<\/p>

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          Ms. Petchlada<\/strong> <\/span> concluded, “We expect total revenue this year to grow compared to last year’s total of 3.41 billion baht. In the first half of 2018, the company has already generated 2.79 billion baht in revenue, thanks to the continuous delivery of projects and the successful 100% transfer of all delivered projects. This is due to our commitment to delivering quality projects to customers on time, which builds trust and confidence in the Major Development brand. With the ongoing recognition of revenue from transfers, we are confident that this year’s sales will meet the target of 30 billion baht.”

Thank you for the information from www.mde.co.th<\/a><\/p>