Supalai's Property Presales Momentum Seems to be Improving
Dow Jones
Aug 27
0448 GMT - Supalai's property presales momentum seems to be improving, ttb wealth securities' Rata Limsuthiwanpoom says in a research report. Demand in 2H is on the mend across Thailand's real-estate market thanks to easing Middle East conflict uncertainties, the analyst says. Supalai plans to launch four condominiums in 2H, with the first project having already achieved 60% gross take-up at launch in 3Q, the analyst notes. The real-estate developer expects decent condo demand thanks to sharply lower new supply and a supply gap in the affordable segment of 70,000 baht-90,000 baht a square meter. The brokerage raises the stock's target price to 21.00 baht from 18.00 baht with an unchanged buy rating. Shares are 1.9% higher at 16.40 baht.
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