An artist's rendering of Quinn Sukhumvit Soi 101, worth 2.5 billion baht, which launched on Tuesday.

Despite being cautious on this year's property outlook, MBK Real Estate, a property development subsidiary of SET-listed MBK Plc, plans to launch three upper-end residential projects worth a combined 5.5 billion baht.

Plengsak Sribua, senior vice-president of the project management department, said the company will continue focusing on developing residential projects one by one since jumping into the residential sector 15 years ago.

"Economic conditions have affected homebuyers' purchasing power," said Mr Plengsak. "But as we develop each project one by one, we are confident about the segment we are tapping into. We are not worried about negative factors."

He said the new lending curbs will have a slight impact on the company's target buyers, as the company's projects are in the high-end segment, which relies marginally on mortgages.

MBK Real Estate collects a high down payment of 15% of the unit price for condo projects.

Starting from April 1, homebuyers are required to make a minimum down payment for third and subsequent mortgages of 30% of home price, and 10-20% for a second mortgage, depending on how long a borrower has made payments on the first mortgage.

For those who seek a second mortgage to fund the purchase of a home priced at 10 million baht or higher, a minimum 20% down payment is required.

"Our parent's affiliate MBK Guarantee supports our condo customers with mortgages if they fail to get one from banks," said Mr Plengsak.

There have been many instances where banks did not approve home loans for customers, he said, citing unclear bank statements for freelancers as an example.

In these cases, MBK Guarantee will provide home loans with similar interest rates to commercial banks.

The company on Tuesday launched Quinn Sukhumvit Soi 101, a 31-storey condo with 347 units worth a combined 2.5 billion baht, located close to Punnawithi BTS station.

Units start at 35 square metres and are priced at 175,000 baht per sq m, or 6.1 million baht per unit.

Some 55% of the units have been sold so far.

Mr Plengsak said the upcoming The Riverdale Residence has 56 single detached houses worth a combined 2 billion baht.

The project is scheduled to launch in the second quarter.

The Riverdale Residence will be located on 64 rai near Riverdale Golf Course in Bang Kadi district, Pathum Thani province.