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Thai home-building innovator targets India, Vietnam

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Thai home-building innovator targets India, Vietnam - Pruksa Real Estate - developer - Thailand - housing market

Pruksa Real Estate, Thailand’s biggest property developer and manufacturer of prefab homes, is targeting affordable housing markets in India and Thailand.

In an interview with Forbes magazine, the founder of the innovative company, engineer Thongma Vijitpongpun, said he plans to launch projects in Vietnam, India and the Maldives this year, which could contribute US$42 million in revenue. He said he is also studying the Philippines, Indonesia and China.

Pruksa sold more than 11,000 houses and apartments last year in Thailand (example pictured here), more than any other Thai company. Pruksa estimates that 2009 revenues reached $569 million, a 46% jump over 2008.

Pruksa’s quick rise has been attributed to its modern methods. It is actually three companies in one: developer, manufacturer and builder. Pruksa’s factories turn out precast concrete wall panels that are assembled, plumbed, wired and finished on site. Rivals struggle to match its speed of construction – 45 days for a housing unit.

The company opened its first factory in 2005 and now has three hangar-sized factories operating around the clock, with plans for more. Thongma says Pruksa’s approach lets it offer homes at prices 15% cheaper than rivals.


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