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Property Perfect Expects 2013 Revenue to Jump 50% on Home Demand

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Jan. 4 (Bloomberg) -- Property Perfect Pcl, a Thai developer, expects revenue will jump 50 percent to about 15 billion baht ($493 million) as economic expansion and income increases boost demand for condominium and houses.

The Bangkok-based company plans to start selling more condominiums and town houses in the capital this year, Vice Chairman Chainid Ngowsirimanee said by phone from Bangkok today. The company’s revenue from sales of land and houses climbed 1 percent to 6.25 billion baht in the first nine months of 2012, according to company statements on Nov. 12.

“It should be another record year in 2013 as demand for residential properties in Bangkok and nearby provinces remains very robust,” he said.

Shares of Property Perfect gained 5.5 percent to 1.15 baht at the lunch break in Bangkok, heading for the largest increase since Oct. 8. The stock surged 52 percent in 2012.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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