BAM achieved more than 300 MBHT from bidding and plan to arrange sales boosting activity for whole year

          BAM presented its performance from the first bidding of the year by receiving more than 300 million baht revenue and planned to arrange the booth in all regional’s events for boosting sales for whole year. BAM believed that the real estate market would grow continuously according to economic recovery as people still require owning the accommodations which are new house, second-hand house, especially condominium near sky train route.

          Mr. Krit Sesavej, the President of Bangkok Commercial Asset Management Co.,Ltd. (BAM), said that BAM still kept focusing on the active strategy of assets sales. BAM planned to arrange 3 bidding activities named “great assets in good location” in March, June, and October 2013 with total asset value of 3,000 thousand million baht. On March 29, 2013, BAM arranged the first bidding for 22 items of non-performing assets. There were 25 attendees with 4 offered items, although the company approved for only 3 items because another item was offered at lower price than the starting price. Total revenue from the bidding was 321,614,999 baht, which was 300 million baht higher than the expected amount.

          The assets which were bid consisted of (1) three office buildings with 4 floors and a mezzanine each, total area 90x4 square meters, located at 22/16-18, Rama III road, Bangkolaem sub-district, Yannawa district, Bangkok. The bidding price was 20,000,000 baht; (2) the land (undeveloped) of 18-1-11 rai, located on Suksawad road, Laemfapa sub-district, Mueang, Samutprakarn with the bidding price of 56,555,000 baht; and (3) the land with building of 132-3-56 rai, located on Chiangmai-Hod road, Sanpakwan sub-district, Hang Dong district, Chiangmai with the bidding price of 245,059,999 baht.

          In the same time, for the 15th anniversary, BAM arranged 5-location real estate expo by creating the event in 5 department stores around the city which were The Mall Bang Kae, The Mall Bangkapi, Future Park Rangsit, Sicon Square Srinakarin, and Central Changwattana during March 14 – 20, 2013 with total bidding amount of 200,059,000 baht, which met the target.    

          Mr. Krit also said that the direction of real estate market in this year would keep growing up according to the economic recovery which caused by the requirement of most people on the accommodation, both new house and second-hand house, especially condominium near sky train route which had high expansion rate. This also included the real estate market in upcountry and main towns which would have trading business with ASEAN in the future. 

          Moreover, the real estate market, both in Bangkok and in other provinces, tended to have the growth of this year higher than of the previous year. The supportive factors were the government’s policy to activate consumer’s purchasing power continuously, whilst offering moderate interest rate of loan. This also included that the real estate in the northern east and the east of Thailand tended to have high growth rate according to the economic expansion and the investment in macro transportation system of the public sector to be linked with the other countries in ASEAN. Regarding the second-hand house market after recovery from flooding, the sales of standalone house, townhouse, and condominium increased because the higher price of new house in accordance with the higher cost of labor and construction materials. 

          However, as the action plan and management plan in 2013, BAM has the policy to support assets’ sales by arranging the booth continuously, both in Bangkok and in other provinces, and has prepared for arranging the other festivals and special promotion for interested customers for whole year.