Despite slowing sales in light of unfavourable market sentiment, condo developer Grand Unity Development Co (Grand U) remains confident of a healthy transfer of units and a lower rate of mortgage rejection.

The company is aiming for revenue growth of 30% by the end of 2015.

Grand U is aiming for a 30% revenue growth this year, says Mr Neramit.

"We are not worried about purchasing power as the mortgage rejection rate at our projects was relatively low at only 6% early the year," said managing director Neramit Srangiam. "Despite rising from 2% in 2014, the rate remains very low compared with other developers."

Mr Neramit said there were fewer condo speculators in the market at the moment, while the number of new condo projects launched and sold out in a single day were also rare.

However, the company is concerned about two locations, Rattanathibet and Talat Phlu, where condo supply is high and where it has two projects with remaining units for sale.

They include the 1.8-billion-baht U Delight Rattanathibet with 989 units, 60% sold, and U Delight @Talat Phlu Station with 973 units, 40% sold.

In order to boost sales there, Grand U will use an in-depth marketing strategy including offering a down payment rate at the same rate of rent for an apartment. It aims to sell inventory units within six months after all units are completed.

Mr Neramit said the company targeted 5 billion baht in revenue by the end of this year, up 30% from 3.1 billion baht in revenue from condo sales last year.

It also recorded extra income of 400 million baht in 2014 from sales of two land plots totalling seven rai on Phahon Yothin Soi 23, where it earlier planned to develop two condo projects worth a combined 1.7 billion baht, which were to be launched in 2013.

Since those projects failed to get an environmental impact assessment approval, Grand U decided to cancel development and returned the booking money to 700 buyers.

This year, Grand U plans to launch three new condo projects worth 4 billion baht. Among these will be U Delight Ratchavibha, located on a six-rai plot on Vibhavadi Rangsit Road opposite Wat Samian Nari.

It will have a total of 881 units sized from 30-51 square metres and priced 80,000 baht per sq m. It will have a pre-launch in May for the 700 buyers at the Phahon Yothin Soi 23 site before the official launch in June.

Grand U, a subsidiary of SET-listed Univentures Plc, also plans to spend 1 billion baht to buy three new plots of land for condo development this year.