A founder of former software developer CyberPlanet Interactive Plc plans to launch a 700-million-baht villa project in Pattaya this year.

The new project will be located on 10 rai in the Na Jomtien area and comprise 60 pool villas priced from 10 million baht apiece, said Chanin Vanijwongse.

Mr Chanin shifted to property development two years ago and is now chief executive of new developer Habitat Five Co.

The project will carry the brand name of Thai hotel chain X2, which will manage the property.

"Property is real estate. It generates a higher margin than the IT business," said the former managing director of CyberPlanet.

"Software development is an exciting venture, but trends change every two years. But with property, the longer you hold it, the higher it appreciates."

Chanin Vanijwongse, a founder of former software developer CyberPlanet Interactive, says property generates a higher margin than the IT business.

The new property project will be the company's third, after The Ville Jomtien villa project worth 600 million baht, launched in 2013 and sold out last year, and the X2 Vibe Pattaya SeaPhere condo project worth 300 million baht, now 50% sold.

The condo project will have its official launch this Saturday and be located on 296 square wah on Na Jomtien Soi 32.

Its eight-storey building will feature 65 units sized from 29-54 sq m and priced from 2.84 million baht.

"I've been a condo investor myself and know what investors want," Mr Chanin said.

"The project offers a rental management programme with a guaranteed return of 7% per year for five years, which will certainly attract investment buyers, as the rate is higher than bank deposit interest."

Mr Chanin started investing in condominium units in 2004.

Before jumping into property development, he sold 60 condo units he owned at 30 different projects with a total investment value of 500 million baht, for which he gained a profit of 15% per year.