Kanda Property has recorded strong growth in sales in the first nine months of 2008, despite facing tough competition from much bigger developers.

Kanda’s managing director Issara Boonyang said the company’s sales have grown by seven percent in the first nine months of the year compared to the same period in 2007. The developer has achieved sales of Bt600 million so far this year, and expects to hit its Bt750 million target for the year.

“Demand for residential projects priced between Bt1 million and Bt3 million is still growing, although the country’s economy will continue to see negative impact from the global financial crisis through next year”, said Issara.

Kanda plans to launch two new residential projects worth Bt800 million in 2009. Located on Rama II Road, the projects will comprise detached houses and townhouses targeting middle-income buyers