On March 1, 2019, Mr. Somnuk Tantatherdtham, Managing Director of NC Housing Public Company Limited (NC), revealed the overall picture of the real estate market in 2019, stating that it is a challenging year that requires adaptation due to various business factors facing numerous limitations. These include the Bank of Thailand's strict LTV measures, stringent down payment requirements, and higher loan amounts for home buyers. However, he is confident that the real estate sector can still grow, albeit at a stable rate, and that caution is necessary. He believes that operators must have contingency plans to strengthen their business resilience.

          “This year presents multiple challenges both domestically and internationally. I am confident that real estate operators can continue to expand, supported by advancements in infrastructure development in the transportation sector, which will gradually boost the overall real estate economy. There has been tangible progress in several electric train projects in urban areas, connecting the outskirts to the city center, which is stimulating the real estate market in Bangkok and its vicinity to grow alongside project expansions,” Mr. Somnuk stated.

          Nevertheless, this year the company remains focused on prioritizing customer satisfaction by continuously developing projects, products, and services to ensure satisfaction both before and after moving in. This year, the company has expanded its customer base in high-potential locations, including the northern region and other areas, with new project launches featuring unique concepts that can compete in the landed property market. The company plans to launch 4-5 new projects this year, with a total project value exceeding 3 billion baht, focusing on single-house products priced at around 5 million baht. The company aims for sales of 2.8 billion baht and revenue recognition of 1.8 billion baht.

 

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