Singha Estate shows 9-month income of over 8.4 billion baht, reveals 3-5 year plan to attack the horizontal, investing 7 billion per year.

Ms. Thitima Rungkhwansiriroj, Chief Executive Officer of Singha Estate Public Company Limited (S), a real estate and hotel business operator, revealed that for the first nine months (January-September 2022), Singha Estate generated revenue of 8,491 million baht, an increase of 65% from the same period last year, and achieved a net profit of 98 million baht, a turnaround from a loss of 238 million baht in the same period of 2021. The breakdown is as follows:

– Revenue from hotel business 6,123 million baht, growing 121% YOY

– Commercial real estate business income was 767 million baht, an increase of 6%.

The main factor of the recovery is due to the tourism sector bouncing around the world. As a result, the business of the 4-port hotel group is strong, such as

CROSSROADS Maldives hotel achieved an occupancy rate of 67% and was able to increase its average nightly rate (ADR) by 41%. Hotels in the UK achieved new high ADR, driving average nightly revenue (RevPAR) to increase. Up to 19%, Outrigger Hotels made ADR increase 20% compared to the pre-COVID period.

When complemented with the commercial real estate business which has increased income. from increasing the rental rate. Including the rental rate of the S Metro building which increased to 93% after the building's rebranding and renovation. Reflects the ability to manage assets and selecting the company's target customer groups Focusing on industrial groups with high growth There is continuous business expansion. This results in increased demand for space in the long run.

Mrs. Thitima said that for the satisfactory performance in the third quarter, we reported a net profit of 3 million baht, marking Singha Estate's record profit for two consecutive quarters.

Meanwhile, the hotel business through its subsidiary "SHR" has turned around and returned to net profit for the first time since the outbreak of COVID-19.

As for the 4th quarter, we believe it will be the best quarter of 2565, driven by the rapid performance recovery of hotels in Thailand.

We clearly see a recovery in the number of tourists after the country fully opened. combined with the potential of hotels located in the most popular tourist destinations and the efficiency of our hotel management, resulting in October occupancy rates for Sai Phi Phi Island Village Hotel and Sai Laguna Phuket Hotel rising to 81% and 77%, respectively.

Strengthened by the continuous growth of CROSSROADS, which normally has a peak season of tourism at the end of the year. We expect CROSSROADS to achieve its highest-ever performance since the project's launch in 2562 in Q4.

For the launch of the Siraninn Residences Pattanakarn project, the latest low-rise project in the concept of Horizontal Luxury House, consisting of 2 plots of 28-story detached houses with a price of approximately 65 - 180 million baht. Sales are planned to open by the end of 2565. At present, more than 95% of the project value of 2,900 million baht has been sold before the official launch.

The company plans to transfer project ownership between the 4th quarter of 2565 and the 1st quarter of 2567, which will be one of the important factors driving the income of the residential business to increase by more than 1% next year, supported by the launch of the project. New in 50 more product groups Price level from 2 - 10 million baht, ready for sale from the beginning of the second quarter of 50, 2 projects with a total value of 2566 million baht, which have now begun to develop the projects.

“Singha Estate” even though we are a new brand in the market and has just begun to tackle its second horizontal project. But customers still believe and buy houses in the price range of 100 million, both before the launch of the project and before seeing the sample homes. This is considered a phenomenon that we are proud of.

This makes us confident in the path of success in the future where we aim to launch new horizontal projects in the next 5 years continuously, 3 - 4 projects per year, with a total value of 7,000 million baht per year, moving forward with the Superlux project. Soaree