SET-listed residential developer L.P.N. Development plans to use augmented reality (AR) and virtual reality (VR) to introduce new low-rise housing projects, reducing the preparation time before launching in response to rising costs.
Chief executive and managing director Opas Sripayak said AR and VR provided to customers during site visits or viewing projects from elsewhere can help reduce the time to market from 8-12 months to just six months after the land purchase.
“We are experimenting new approaches to speed up project introductions,” he said.
“We won’t need to wait for the completion of sample houses’ construction and can offer a variety of interior design choices.”
Once land development and project infrastructure are completed, the company can welcome customers for site visits without the requirement to finish multiple sample houses with various designs in advance.
With AR, customers can use their smartphones or AR glasses to take virtual property tours.
They can navigate a real sample house, modify 3D or digital design images according to their preferences, and access information about the house, its features and virtual furniture, said Mr Opas.
Meanwhile, VR lets them take virtual tours of a house from anywhere, without a physical site visit, he said.
The immersive technology will be applied at a new single detached housing project under the brand Villa 168, featuring 100 units on plots sized 50-60 square wah and priced at 12-15 million baht.
It will be one of the three new projects worth a combined 2 billion baht that the company plans to launch this quarter as it is confident in a vibrant market during the high season, said Mr Opas.
“The market was quiet in the second and third quarter because of the general election,” he said.
“By the late third quarter, the market improved and this momentum will carry on into the final quarter.”
L.P.N. has an inventory worth a combined 7.5 billion baht, including units completed more than three years ago worth 2.5 billion and units completed less than three years ago worth 5 billion baht. These should generate revenue once sold, said Mr Opas.