Real estate investment guru
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Property firm Estate Guru Co, run by a former financier at JPMorgan Chase & Co in the US, plans to launch four new projects worth a combined 1 billion baht next year.
The Wizdom project will comprise 73 townhouses priced at 1.69 million baht to 2.45 million baht.
The company will also launch a project on a 7-rai site on Soi Petchkasem 53 this year, said chief executive Nat Manasomjit, who resigned from JPMorgan Chase New York in the third quarter last year to join his family's propertybusiness.
He said construction of the Blue Line had increased land prices on Phetkasem Road from 90,000-100,000 baht per square wah, stable for many years, to 150,000-230,000 baht after mass transit construction started.
The project, Wizdom, worth 150 million baht, will comprise 73 townhouses priced at 1.69 million baht to 2.45 million baht. Its targeted net margin will be 20%.
While shophouses generate higher net margins as high as 35% and are easy to develop and sell, finding suitableplots is much more difficult, he said...
..."To be successful in the property business, you need to find just the right location, while the other factors are uncontrollable," he said...
The company will also launch a project on a 7-rai site on Soi Petchkasem 53 this year, said chief executive Nat Manasomjit, who resigned from JPMorgan Chase New York in the third quarter last year to join his family's propertybusiness.
He said construction of the Blue Line had increased land prices on Phetkasem Road from 90,000-100,000 baht per square wah, stable for many years, to 150,000-230,000 baht after mass transit construction started.
The project, Wizdom, worth 150 million baht, will comprise 73 townhouses priced at 1.69 million baht to 2.45 million baht. Its targeted net margin will be 20%.
While shophouses generate higher net margins as high as 35% and are easy to develop and sell, finding suitableplots is much more difficult, he said...
..."To be successful in the property business, you need to find just the right location, while the other factors are uncontrollable," he said...
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