Raimon Land Public Company Limited (“RML” or the “Company”), Thailand’s leading luxury real estate developer, announces profit of THB 138mn despite the COVID-19 economic downtrend. The Company recently rebranded its corporate image to expand its customer base to include a younger affluent generation and is accelerating its new project launches in 2021 to accommodate the Thai government’s new home buying foreign limit. The operating result of 1Q/2021 is a turnaround from the past five-loss quarters and is in line with the Company’s new strategic direction.
Korn Narongdej, Chief Executive Officer of RML, stated, “in 1Q/2021 revenue from real estate grew 322% compared to the same period of the previous year after the Company implemented new strategies in existing projects to accelerate sales. Although the third wave of COVID-19 is in the background, we are confident that the market is adapting and together with the speeding up of vaccine distribution in Thailand and globally, we believe that the situation will be greatly improved in the near future. After research, we found considerable demand for luxury residential products from a young and dynamic generation with high-purchasing power. Our company has adjusted its strategy to attract this group of potential customers.”
RML has announced that it sold out The Lofts Silom project and also cleared all remaining units of The River, Unixx South Pattaya and The Lofts Asoke in this first quarter. This will allow the Company to focus on its upcoming projects such as The Estelle Phrom Phong and Tait Sathorn 12 that are under development, as well as on new projects that will be announced shortly.
About Raimon Land
Raimon Land is Thailand’s leading developer of luxury and super-luxury real estate with numerous outstanding projects to its name.
We are the first developer in the country to provide unprecedented levels of exclusivity to our customers, based on the company’s philosophy that is encapsulated by its new vision statement – Luxury Reimagined.
We take pride as the pioneer of innovative concepts, ideas, and designs in Thailand’s luxury real estate market through our projects in Bangkok’s prime locations. Raimon Land has to date developed over 20 residential and commercial projects throughout Thailand.
Reflecting the company’s outstanding success, Raimon Land was named ‘Thailand Property Development Company of the Year’ by Frost & Sullivan Awards 2019. Visit us at www.raimonland.com