November 20, 2014 / 7:43 AM / in 3 years

Thai Property Perfect cuts 2014 housing sales target on political unrest

BANGKOK, Nov 20 (Reuters) - Thai developer Property Perfect PCL said on Thursday it had cut this year’s housing sales target to 12.7 billion baht ($386.49 million) from 15.5 billion baht forecast earlier due to the impact from domestic political unrest.

The company expected real estate sales to rise 15 percent in 2015 when revenue should grow at about 5-10 percent, assistant chief executive Theerathat Singnarongthon told reporters.

It planned to launch 23 new projects worth a combined 20 billion baht next year, he said, adding he expected strong demand for houses and townhouses along the mass transit lines in Bangkok, while the condominium market was oversupplied. ($1 = 32.8600 Thai Baht) (Reporting by Manunphattr Dhanananphorn; Writing by Khettiya Jittapong; Editing by Biju Dwarakanath)

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