RML 4Q65 turns profitable, confident this year will be ready for a turnaround.

Raimon Land (RML), a leading developer of luxury and ultra-luxury properties, reported outstanding performance in the fourth quarter of 2022, showing significant growth with a net profit of 43 million baht, compared to a net loss of 457 million baht in the same quarter of 2021. Fourth-quarter presales reached 803 million baht, a 73% increase compared to the same period last year. For the full year 2022, total revenue reached 2,745 million baht*, a 9% increase compared to the same period last year.

Identifying improved performance from the transfer of condo ownership. Ultra-luxury 'The Estelle Phrom Phong', a project under a joint venture with Tokyo Tatemono, a leading real estate developer from Japan. The total amount of ownership transfer was able to exceed the target set. which has a transfer of ownership of more than 2,400 million baht at the end of 2565, or approximately 50% of the number of units ready for sale.

Mr. Korn Narongdej, Chief Executive Officer of Raimon Land Public Company Limited, revealed that Raimon Land's business performance in 2565 was highly successful, achieving outstanding results, especially in the last quarter of the year when the company managed to turn a profit after incurring losses in the previous year. Furthermore, the company's sales in the same quarter were almost double those of the previous year.

While sales for the whole year It still rose almost 7% from 2564, which is very pleasing that RML's customers believe in the brand and quality of the 'The Estelle Phrom Phong' project, causing the project transfer to move forward quickly. The transfer of ownership has started since the third quarter of 3 and approximately 2565% of the units have been transferred and are ready for sale and it is expected that sales will definitely close this year.

“In the 4th quarter of 2565, the company was able to turn around and make a profit. This is because operating results reflect efficient management. From RML's current project cost management, including financial cost management with floating and fixed interest rates in appropriate proportions.

In addition, the company has also succeeded in rebranding under the slogan 'Luxury Reimagined' to raise the brand's image to be easily accessible, modern and expand the target audience to reach every generation. Sections with purchasing power of the luxury and ultra-luxury markets As a result, the project received a very good response. The two projects under joint venture with Tokyo Tatemono are 'The Estelle Phrom Phong' with approximately 80% sales already and 'Tait Sathorn Twelve' (Tait Sathorn 12). About 90% have already been sold,” Mr. Korn said.

*Note: In 2565, total income is 2,745 million baht. Part of the income of 2,393 million baht comes from income from the transfer of ownership of the project 'The Estelle Phrom Phong', which is a joint venture between Rai. Mon Land and Tokyo Tatemono

The company has sales waiting to be transferred (Backlog) as of December 31, 2565 at 4,965 million baht, including a total of 2 projects: 'The Estelle Phrom Phong' project, which has gradually transferred ownership since the third quarter of 3, and ' Tette Sathorn Twelve', a luxury condominium in the heart of Sathorn, which will gradually transfer ownership in the 2565rd quarter of 3.

For the business direction in 2566, the company has changed its investment strategy in various projects. From self-funding to investing with other companies (Joint venture) including the Asset Light strategy, which focuses on opening projects together with land owners to develop projects. This results in more savings in land costs. In addition, the company continues to focus on developing and investing in projects. that generates continuous revolving income (Recurring Income) can recognize income quickly and more regular income

In the second quarter of this year, 'One City Center' will be opened, a Grade A office building. The highest level of luxury in Thailand On the best location in the heart of the business district, next to Ploenchit BTS station. which will be a supporting factor for the company Have regular income And cash flow continues to come in. The project has received very good feedback even though it has not yet fully opened. Currently, there is a rental rate of more than 2% and many leading companies have signed contracts such as Mitsubishi Estate (Thailand), Mitsubishi Heavy Industries (Thailand), Mitsubi. Shi Power (Thailand), Marubeni (Thailand) and many other world-renowned organizations

In addition, the company also plans to launch two new projects in the form of Ultra-Luxury Branded Residences. The first project is Rosewood Residences. S. Kamala (Rosewood Residences Kamala), Phuket Province It will be developed in the form of a project of only a few private luxury villas. The total project value is over 2 billion baht and another project in the Sukhumvit zone. To strive to be the number 7 leader in real estate development. Luxury level and ultra luxury