Asian Property Development subsidiary, Bangkok CitiSmart has targeted sales revenue to rise 56 percent to 2.5 billion Baht this year. In doing so, the company will expand its sales team, in order to focus more on reselling condominium units and attract investment from bank depositors searching for higher returns.

Mr. Pumipat Sinachareon, CEO, Bangkok CitiSmart Co., Ltd, reveals the company performance for the year 2008 that the company itself could achieve its target of 1.6 billion Baht or increasing in 45% of the growth rate. For the year 2009, the company predicts that it will be the good chance for real demand of city condo since there will be a lot more of finished projects so that the risk from delay transferring will be gone, the customer can see the actual view from the actual room and, most importantly, the price has been marked down in order to reach the customer satisfaction point. This can be seen from the increasing of 30% in property inquiry through the company since the beginning of this year.

The company, hence, set it target at 2.5 billion Bath for this year or increasing of 56% in growth rate. This expectation might mainly from the expansion of sales channel as well as the recruiting of more than 20 new salespersons.

“Even though the current economic situation could lead some negative effect to the real estate market, the company still firmly believes that the city condo market is belonged to the real demand’s segment, especially the condo that clings to the BTS or MRT line. Besides, the price of the finished project is relatively lower than the brand new project which hasn’t yet finished. In terms of investment, the amount rate of rental yield for condo is approximately 6 - 8 % which considers far better than the bank deposit rate”, said Mr. Pumipat.

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“Bangkok CitiSmart…Expert in City Property”