Thai residential developer Property Perfect plans to launch eight projects worth at least Bt10 billion over the next two months, in anticipation of a quick recovery for the domestic real estate market.

The company’s chief executive, Chainid Sirimanee, said: “The lowest point of the political crisis has passed. We believe consumer confidence will resume, following an economic and property market revival late this year.”

Property Perfect is set to launch two projects in the Rama IX area: The Metro Rama IX with 472 worth Bt1.7 billion, and the Bt3.27 billion Perfect Masterpiece, with 319 detached houses. Both developments will benefit from their proximity to the much awaited Airport Rail Link, due to open in August this year.

The developer is also capitalising on the extension of the Silom BTS line, from the current terminus at Saphan Taksin to the new Wong Wian Yai station on the Thonburi side of the river. After a three month trial period, the extension will be officially opened on August 12 to mark Her Majesty the Queen’s birthday. In Thonburi, Property Perfect will offer 321 townhouses in the Metro Sathorn project worth Bt1.27 billion, and 2,200 condominium units worth Bt4.4 billion as part of Metro Park Sathorn phase 3.

Other projects are planned for the Ratchapruek area, Ramkhamhaeng, Sukhumvit 77 and Ratchadapisek Road.
“Some of these projects were postponed from the first quarter and late last year due to poor market sentiment,” said Chainid. “We will launch all of them in the second quarter [of 2009] for sale throughout the second half when we believe the Thai economy will recover.”

By year-end, Property Perfect forecasts income of Bt7 billion from property sales. The company is also in talks with Singaporean investors in view of establishing a joint venture to develop a condominium and shopping mall at the intersection of Sukhumvit and Bang Na-Trat Roads. The project had been postponed late last year due to political uncertainties.