RML's 2020 Plan aims to revolutionize its business structure to navigate the COVID-19 crisis by adopting a proactive marketing strategy, focusing on online marketing. The company will present real estate investment opportunities in rental condos as serviced apartments, alongside luxury condos in prime city locations, while also adjusting strategies to increase revenue from food and beverage businesses. They are set to launch a new luxury condominium project in Sukhumvit 38.

Mr. Lionel Lee, CEO of Raimon Land Public Company Limited (RML), a leader in luxury real estate development in Thailand, revealed that the COVID-19 pandemic has impacted the global economy and the real estate market in 2020, creating short- to medium-term negative effects. While prioritizing the care of employees, investors, and customers, the company will not focus on diversifying investments but will adjust strategies to cope with the impacts of COVID-19.

However, there are positive factors such as low and declining interest rates, government stimulus measures for real estate, and the Bank of Thailand's easing of LTV regulations, which could make this an interesting year for prepared investors focusing on medium- to long-term investments. This presents a good opportunity to invest in more affordable real estate with the potential for attractive returns, both in terms of future price appreciation and rental income from locations with growth potential.

This aligns with the company's strategy adjustment this year, which emphasizes proactive marketing (Strategic Marketing) to create growth opportunities in its core business, responding to current market conditions. The company is launching products for investment in rental condos in luxury condominium projects in prime city locations, such as The Lofts Asoke, The Diplomat 39, and The Diplomat Sathorn, managed by Klapsons The River Residences Bangkok and RML's subsidiary, Real Estate Realty, which the company expects to receive positive feedback from investors.

At the same time, the company plans to promote sales through online channels with an O2O (Online to Offline) strategy, allowing customers to view luxury projects online before deciding to visit the actual projects. This approach aims to stimulate purchasing demand and reach customers directly, while also providing a health safety channel during this period, which is expected to boost project sales.

For this year's operational plan, the company plans to launch a new luxury condominium project on Sukhumvit Soi 38, which will be its third joint venture project with Tokyo Tatemono, a long-established giant in Japan.

Regarding the Recurring Income business, which includes restaurants and hotels, the company has been affected by the COVID-19 pandemic, leading to a postponement of the launch of HOTEL KITCH from April 2020 to the second half of the year. HOTEL KITCH is a new concept hotel managed independently, featuring 72 rooms, with plans to open another new hotel in the Sukhumvit area with 300 rooms, emphasizing a modern concept utilizing technology.

For the food and beverage business, to manage business risks, the company is currently planning a new strategy for the Baang Ying restaurant and is exploring the feasibility of a joint venture with F&B business partners. Further details will be announced as plans solidify.

As for the company's backlog sales figures at the end of 2019, they totaled 8,010.5 million baht, which will gradually be recognized as revenue starting in 2020. This year, most of the transfers will come from the The Lofts Silom project, where customers are expected to begin transferring ownership early in the year, with 80% of sales already completed. The company will continue to invest in marketing strategies to build the Raimon Land brand among both domestic and international clients.

Mr. Lionel added, “The company has a strong backlog of project sales, and we are ready to move forward at the right time and opportunity, managing the business and adjusting strategies to overcome this crisis. We remain committed to collaborating with our business partners, investors, and customers to navigate this period together.”