Property Perfect plans to sell land, inventory for liquidity

SET-listed developer Property Perfect has frozen new project launches this year and plans to offer land bank plots and properties worth a combined 4.8 billion baht for sale to strengthen liquidity.

- KANANA KATHARANGSIPORN

Chief executive Sanith Adhyanasakul said the company is in talks to sell vacant lands and an office building in prime locations to enhance its financial position.

"We are prioritising organisational restructuring and liquidity preservation through cost control and cutting unnecessary expenses," he said. "Apart from selling residential units, we also need to divest some assets."

The most valuable assets, worth a combined 3 billion baht, are three prime inner-city properties in Bangkok. One is an eight-rai riverside plot on Charoen Nakhon Road near the Iconsiam mall.