RML emphasizes "The Estelle Phrom Phong" luxury condominium. and Ultra Luxury, transfer amounts continue to be good, showing a backlog waiting to be transferred of more than 4,682 million baht. This year sales are in line with the target of 6,700 million baht.

  Luxury and ultra-luxury projects continue to grow. Especially projects with potential locations in the city center that meet living needs. Convenience and safety that both Thai and foreign millionaires like same as project The most luxurious condominium "The Estelle Phrom Phong" of Raimon Land Public Company Limited or RML, the industry leader in luxury and ultra-luxury real estate development.

There is a transfer of ownership of up to 3,600 million baht, or approximately 85% of the number of units ready for transfer. It is estimated that the total sales of all projects this year at 6,700 million baht is considered a high success. In the same area After success Results for the first half of 2023 had total sales of 1,072 million baht, an increase of 42% from the same period of Last year, sales were 753 million baht.

Mr. Korn Narongdej, Chief Executive Officer of RML, revealed that the overall performance of the past 6 months (January - June 2023) of the company is considered successful according to the set goals. This is reflected in presales that have grown continuously since the first quarter, mainly from the completed project ready to transfer ownership, The Estelle Phrom Phong Condo, Ultra Luxury, near BTS. Phrom Phong and The Em District only 2 minutes.

At the same time, sales received a very good response. Every project open for sale is close to closing, with The Estelle Phrom Phong having sales up to 90% and Tait Sathorn Twelve (Tait Sathorn12), a luxury condominium in the heart of Sathorn. Near BTS St. Louis, only 180 meters, has already swept 95% of sales.

Including the company There is also income from renting space in a Grade A+ luxury office building like OCC (One City Center). The rental rate for office and retail space including interest from customers is approximately 70%, reflecting Demand for condos Luxury and Ultra There are still many luxury grade A+ office buildings.

“During the second quarter of 2023, the real estate business was affected by the Monetary Policy Committee (“MPC”) increasing the policy interest rate from 1.75 percent to 2 percent per year, as well as the price of construction materials and costs. Labor has still increased. However, the company has not been affected much. Due to strong management, the company has been able to fix construction material costs and labor costs for all current projects since the project launch. Including the company It is also able to manage financial costs that are interest at both floating and fixed rates very well.”

For the plan for the last 6 months of 2023, the company has sales waiting to be recognized (Backlog) in the amount of 4,682 million baht as of June 30, 2023, which will gradually recognize income from the project "The Estelle Phrom Phong." and prepare to recognize income from the "Tett Sathorn Twelve" project, which will begin transferring ownership of the condominiums for the first time in the third quarter after construction is completed. As well as still looking for tenants "OCC", the project is currently under construction of a sky bridge connecting to BTS Ploenchit. The connecting bridge will be completed by the end of this year.

It is expected that this will help drive more tenants to rent OCC space. and causing the OCC occupancy rate to fill the rental area in 2024. In addition, the company is also preparing to launch the Rosewood Residences project for sale. Kamala, Phuket Province (Rosewood Residences Kamala), special round of exclusive (Private Sales) and will begin selling low-rise ultra-luxury projects in the Sukhumvit location at the end of the year. which will create a great phenomenon and reinforces RML's image as a leader in the industry of luxury and ultra-luxury real estate development. to be even stronger

Source:https://www.thansettakij.com/real-estate/577402

Date 2/10/2023