Living Land lists tomorrow

"Even though we're a small firm, we have confidence in property growth. We have set our company as a small growth stock," managing director Pathrlap Davivongsa said yes¬terday.

Living Land could seek a list¬ing on its own, but taking over Hantex has shortened the process, he said.

Hantex fell into bankruptcy in 2005 and exited rehabilitation last April.

The developer will penetrate the middle and lowend residen¬tial markets, believing that they will continue to do well.

Living Land's stock should be warmly welcomed by investors, as the company plans to pay dividends this quarter after cut¬ting its losses to Bt9 million, Pathrlap said. Dividends will not exceed 40 per cent of net profit.

It is financially strong enough to support the expansion after lowering its debttoequity ratio to 1.83 from 2.23 last year.

Living Land sees its revenue doubling this year from Bt869 million last year, with 35 per cent coming from townhouses, 30 per cent from singlefamily homes, 30 per cent from condominiums and the rest from the resort market.

The firm has 18 projects, which are expected to contribute Bt4.13 billion in revenue to the company over three years.

It will start realising Bt1.86 billion in revenue from some of the projects this year, Pathrlap added.