Univentures Plc (UV) will launch two new condominiums worth one billion baht each in the second half of the year and begin operating its new office building in September with a target of full occupancy in two years.
President Ornruedi Na-Ranong said the company will spend 500 million baht for three new plots of land this year, one of which has already been bought.Talks are under way for two other plots to be used for new condominiums in the third and fourth quarters, respectively. Early this year, it launched U Delight Bang Sue worth one billion baht, which is 80% sold so far.
By the end of this year, UV aims to have 3.3 billion baht in revenue, up from around two billion in 2010. About two billon baht would come from condo ownership transfers from the two projects including the sold-out U Delight Huay Kwang worth 1.1 billion baht and U Delight Jatujak worth 1.2 billion.
In September it will open Park Ventures The Ecoplex, 5-billion-baht complex on Phloenchit Road. The building includes a 34-storey office tower with 81,400 square metres and a 240-room hotel that will open next march and be managed by th Japanese chain Okura.
UV expects to earn at least 300 million baht a year from office rents, which will be between 800 and 850 baht per square metre per month, and hotel revenue.
Currently, 15% of the office space has been booked and the company expects 20% by year-end. Customers will include a multinational fashion brand that will relocate from the Ratchaprasong intersection because of worries about red-shirt demonstrations.
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