Univentures Plc (UV), the property firm of liquor tycoon Charoen Sirivadhanabhakdi, expects 50% revenue growth to 15 billion baht this year, driven by low-rise housing.

President Worawat Srisa-an said 80% or 12 billion baht of the target would come from housing sales, with 5 billion from condominiums and 7 billion from single houses and townhouses.

Charoen: Expects 50% growth for firm

"After our subsidiary Golden Land Property Development acquired Krungthep Land last year, our main revenue shifted to single houses and townhouses," he said.

This year, Univentures plans to launch 13 new single house and townhouse projects worth a combined 12.8 billion baht — 11 by Golden Land and two by Krungthep Land.

Three new condo projects worth a combined 3.5 billion baht will be launched by under another subsidiary, Grand Unity Development Co.

In the second quarter, Univentures will establish a real estate investment trust worth at least 8.2 billion baht for two office buildings.

They are Sathorn Square on Sathon Road, worth 5.5 billion baht, and Park Ventures on Wireless Road, worth 2.7 billion baht.

Revenue from Sathorn Square totalled 515 million baht last year, while fully occupied Park Ventures contributed 313 million baht.

Of this year's revenue target, 1.5 billion baht or 10% will come from property rentals and 1.4 billion or 9.33% from the zinc oxide business.

UV shares closed Tuesday on the Stock Exchange of Thailand at 9.05 baht, down 40 satang, in trade worth 40.9 million baht.