L.P.N. Development Public Company Limited, or LPN, has announced its business plan for the rest of 2026, preparing to launch 3 new projects with a combined value of at least 2.75 billion baht, while targeting a reduction in its interest-bearing debt-to-equity ratio to 0.6 times from the current 0.76 times. Mr. Warit Meemuean, Assistant Chief Executive Officer, said during an earnings call that the new projects include Lumpini Park Bang Wa Interchange, valued at 1.4 billion baht with 862 units and expected to be transferred in the fourth quarter of 2027; BAAN365 CHESSADA Ratchaphruek, valued at 1.35 billion baht with 70 units and gradually transferring from the fourth quarter of this year; and Lumpini Nopparat, expected to launch in the fourth quarter of 2026. All three projects already have land secured. The company said condominium sales have been recovering since late last year, with completed projects attracting more interest, and it currently has ready-to-move-in inventory worth 7 to 8 billion baht, expected to generate revenue continuously over the next 2 to 3 years. For the industry in the first half, projects priced at 30 to 50 million baht achieved a sales rate as high as 56 percent, reflecting rising demand in the upper market, while new launches of homes below 10 million baht fell 6 percent in unit terms and 11 percent in value terms compared with the same period last year, due to purchasing power and credit constraints. The average absorption rate improved to 10 percent, with townhouses and semi-detached houses remaining the main products, accounting for 86 percent of newly launched units. Premium-market home launches in the first half fell 27 percent in units and 30 percent in value, entering a correction phase after accelerated launches over the previous two years.
L.P.N. Development Public Company LimitedCompany announces new projects and notes recovering condominium sales and strong demand in upper market.
