Thai Rath: To watch PACE big leap!
10 March 2015
Mr. Sorapoj Techakraisri, Chief Executive Officer of PACE together with executives, recently took press and analysts to visit MahaSamutr site at Hua Hin. He also revealed interesting information about 2015 revenue direction that revenue growth will increase this year and the company will record even greater revenue in 2017.
This year is a beginning of revenue recognition, starting from MahaNakhon at 20% of total project value 14,000 million baht, MahaSamutr at 30% of project value 3,000 million baht and from Dean & DeLuca around 100 million USD. Also in 2016, Dean & DeLuca’s global expansion plan will be revealed and PACE is currently planning business strategy for Dean & DeLuca.
For the recently launched development, Nimit Langsuan, has achieved a remarkable success, 90% of the residences have received firm bookings with paid deposits. Revenue from Nimit is expected to be recognised in 2017-2018. Moreover, PACE’s three major developments - MahaNakhon, MahaSamutr and Nimit Langsuan will see revenue realization within 3 years from now on. Presently, PACE has around 13-14 billion baht of backlog. Whereas its super-luxury developments will generate gross margin more than 30-40%.
