Supalai Premier Charoen Nakhon is one of three condominiums Supalai will launch this month. The 2.8-billion-baht project will occupy more than five rai of Lat Ya Road in Khlong San district.

SET-listed developer Supalai Plc (SPALI) plans to launch new residential projects worth more than 42 billion baht in 2018, aiming to increase revenue by 15%.

Chief executive Prateep Tangmatitham said the economy is expected to continue improving next year, driven by growth in exports and tourism and the government's spending on infrastructure projects.

"The economic outlook in 2018 will definitely be better than this year," he said. "The private sector is set to invest more once exports grow and domestic consumption increases. Property market growth is also reliant on easier mortgage approval."

Supalai has land plots in Bangkok and 12 provinces for development of new projects from next year with a total value of 70 billion baht. Existing projects have about 50 billion baht worth of housing on hand for sale.

Managing director Tritecha Tangmatitham said total sales value of new projects for launch next year will top this year's 37 billion baht.

From this month to December, the company plans to launch 17 new projects worth a combined 15.7 billion baht. These will include 14 single-house and townhouse projects worth 10 billion baht, with 6 billion in Greater Bangkok and 4 billion in provinces.

Three condo projects launched this month are worth a combined 5.77 billion baht and are expected to draw 4 billion baht in presales by year-end.

"The new condo projects will help boost presales in the final four months," Mr Tritecha said. "We moved up the launch period of condo projects from the fourth quarter to September, as the country will have an important event in October."

All the new condo projects will be in the Thon Buri area, where new supply launched in the past few years was limited.

One will be Supalai Premier Charoen Nakhon worth 2.8 billion baht in Khlong San. The project will have 578 units sized 34.50-85.50 square metres and priced at 95,000 baht per sq m or 3.1-35 million baht.

In the Khlong San area, most new projects launched in the past few years had an average price exceeding 250,000 baht per sq m.

In the first half, Supalai recorded 13.4 billion baht in presales, beating its target by 5-10%. At the end of the first half, it had a sales backlog of 37.4 billion baht.

SPALI shares closed yesterday on the Stock Exchange of Thailand at 26 baht, up 1.10 baht, in trade worth 495 million baht.