Nusasiri focusing on reducing risk

Healthcare, tourism seen as more stable

An artist's impression of Nusasiri's Colmar Condo Khaoyai by My Ozone, in Khao Yai, comprising eight three-storey buildings and a total of 800 units.

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SET-listed developer Nusasiri Plc will continue to focus on health and wellness projects and property development for investors, segments it believes have been less affected by the economic slowdown and sluggish housing market.

Deputy chief executive Siriya Thepcharoen said the company's new investment in property will focus on tourism and healthcare-related projects as the market for property built for sale to homeowners is volatile, following economic trend.

"Tourism and healthcare do not depend so much on the economic situation," she said. "Despite an economic slowdown, many people still travel, while individual investors are still looking for something to invest in."

Due to the rising number of Chinese billionaires, the company plans to market in China's top cities including Shanghai and Beijing, where it will set up a sales office to tap into demand among wealthy Chinese tourists and investors.

"We need to find new markets for our healthcare-related tourism business and Thailand is the number one destination among Chinese tourists," she said. "We will also have roadshows in Hong Kong, China and Middle East countries this year to into tap into this demand."

One of the new investments will be Legend Siam, a cultural theme park to be located on a 164-rai site on Sukhumvit Road in Pattaya opposite to Cartoon Network Amazone. Nusasiri will invest 3 billion baht in the project, which is scheduled to open early next year.

This year it will launch a total of 10 new projects worth a combined 13 billion baht in Bangkok, Pattaya, Khao Yai and Phuket and expects to have 5 billion baht in presales and 3 billion baht in revenue, up from 1 billion baht of each last year.

In the first two months of this year, it recorded 300 million baht in presales and is eyeing 800-900 million baht in the first quarter.

One of the new projects will be phase one of Colmar Condo Khaoyai by My Ozone in Khao Yai, being located on a nearly-21-rai site in Nong Sarai, Pak Chong district of Nakhon Ratchasima.

The project will have eight three-storey buildings and a total of 808 units priced from 2.62 million baht, worth a combined 3.2 billion baht. Phase one will have two buildings and 202 units worth 800 million baht.

There are 60 units worth 700 million baht remaining at Movenpick Residences Ekkamai and 80 units worth 1 billion baht remaining at Nusa State Tower in Silom area. Both are completed condos, ready to transfer.

Unsold, off-plan units included 18 single houses worth 300 million baht at Nusasiri City Rama II, 30 single houses at Nusa Chivani Pattaya and 120 condo units worth 400 million baht at phase two of Nusa Sriracha.

Nusasiri is holding a five-day sales event at Emporium which runs until tomorrow where it is introducing five existing projects and the new condo in Khao Yai.

All of them are offered with a maximum total guaranteed yield of 9.5% per year for up to six years. The return will comprise a cash return of maximum 6.5% and a healthcare package valued at 3%.

NUSA shares closed on Friday at 42 satang, unchanged, in trade worth 4.81 million baht.

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