April 3, 2018 - RK Property, a specialist in horizontal real estate, has announced a backlog exceeding 2.3 billion baht, which will gradually be recognized as revenue until 2020. The company aims for a total revenue of 800 million baht this year, representing a 100% growth. They are also moving forward with new projects in the eastern Bangkok area.

           Mr. Worayut Kittiadum, CEO of RK Property stated, "Currently, the company has a backlog of 2,322 million baht, which will start to be recognized from the last quarter of this year until 2020, coming from the sales of existing projects such as RK Park Ram Inthra-Safari, RK Park Watcharapol-Sai Mai, and The Eiffel Ramkhamhaeng-Misteen Phase One. Additionally, we have projects in development and soon to be opened for booking, including The Eiffel Ramkhamhaeng-Misteen Phase Two, which consists of 49 home office units, and Phase Three, which features 67 completed single-family homes ready for occupancy."

           "Furthermore, we have The Rux Ram Inthra-Hathairat, a two-story single-family home project with 96 units located on Thai Ram Man Road, near the Ram Inthra-Ajarnrong expressway, with a project value of 450 million baht, set to launch with prices starting at 3.49 million baht in the second quarter. We also have Zenex Phaholyothin-Ram Inthra 5, which includes both townhomes and home offices with 13 units, located near the Pink Line subway, available for sale with prices starting at 4.5 million baht in the third quarter, targeting Gen X and Y customers who are business owners emerging from startups and online businesses, or new executives who appreciate luxury and value."

           Regarding business development strategies, Mr. Worayut said, "RK Property will continue to adhere to its business approach, gradually building growth based on its strengths, which include expertise in developing and selling horizontal projects in the eastern Bangkok area. We aim to launch 2-3 new projects each year, with townhomes as our main product, followed by home offices and single-family homes. We have also set a budget for new land purchases at around 600 million baht per year. For 2018, the company targets total revenue of 800 million baht, doubling compared to last year."

           "Currently, competition in the real estate market in Bangkok and its vicinity is quite intense, and every company must constantly adapt. RK Property is also striving to maintain its unique selling points while enhancing other strengths. All of our projects are located along major roads in areas with convenient transportation access and are completed and ready for occupancy, making them desirable to customers. Moreover, some projects, like The Eiffel Ramkhamhaeng-Misteen, have competitive advantages in the same area due to the use of plaster construction methods, which are highly sought after by current customers for their strength, durability, and meticulous detail. We also provide spacious common areas or multipurpose rooms, along with incorporating proptech to enhance convenience and safety for residents."

           "Additionally, the company is adjusting its internal operational systems to improve sales efficiency and after-sales service for customers, such as establishing strict standards for house inspections, conducting in-depth surveys and studies of customer needs to inform the design and construction processes, and continuously implementing CRM to maintain customer satisfaction and increase sales opportunities through referrals. We provide detailed product information and create virtual experiences through online media to familiarize customers with RK Property projects before they decide to visit the actual projects," Mr. Worayut added.

           "As for future business expansion strategies, the company is exploring several avenues, including raising funds in the stock market, ICO or cryptocurrency fundraising, joint ventures with business partners, or developing horizontal residential projects for investors who already have land banks, among others."

           "Overall, I believe the real estate market this year will perform well, with an average growth rate of 5%, supported by ongoing investments in major government projects such as various subway lines, high-speed rail, dual-track railways, motorways, and expressways connecting the ring road. Additionally, the overall economy of the country is progressing positively, with the export and tourism sectors still expanding well. Although financial institutions remain strict in lending, there are signs of easing compared to previous periods. The demand for housing in Bangkok and its vicinity continues to rise, so I believe that sales of horizontal projects and condominiums will continue to grow this year," Mr. Worayut concluded.

 

Thank you for the information from    www.rkprop.com