MMM Capital Public Company Limited, or MMM, is pressing ahead with selecting new partners to continuously feed real estate projects into its portfolio, while targeting a stock of about 800 units from roughly 30 to 40 projects, with preliminary sales estimated at around 100 units per quarter. Mr. Kawin Anantapattanakul, Chief Accounting and Finance Officer, said the company has adjusted its strategy by shifting its property price base up to an average of 4 to 5 million baht in order to target customers earning 40,000 to 50,000 baht per month, after financial institutions tightened lending to the group earning around 20,000 baht. Beyond its brokerage business, the company is also buying land to develop low-rise condominium projects on its own in two locations, targeting project sizes of no more than 79 units, and has brought in a subsidiary of Pruksa Real Estate as a consultant and turnkey construction contractor. Sales are expected to begin in the second half of next year, which will help push profit margins even higher. The company estimates that second-half sales will account for 55 to 60% of the full year and will peak in the fourth quarter, with average growth over the past three to five years of about 68% and average quarterly profit of 30 to 50 million baht. For this year, it is maintaining its growth target of 40% and is confident that even achieving 30% would still represent strong double-digit growth compared with the overall industry.
MMMMMM targets ~800 units from 30-40 projects with ~100 presales per quarter and 30-40% growth this year, signaling strong end-customer demand for its property offerings.
