Major Development has announced its Q1 2020 performance with property sales revenue of 1.825 billion baht, an increase of 41% from last year. Meanwhile, total revenue and net profit grew by 37% and 31%, respectively, driven by the transfer of the Metris Rama 9 – Ramkhamhaeng project, while adapting to the New Normal behavior in the fight against COVID-19.

Ms. Petchlada Poovoralak, Managing Director of Major Development Public Company Limited, as a leader in the luxury real estate market, is committed to developing quality residential projects with designs that consider functionality and consumer needs. She revealed the success of Q1 2020 operations, with total revenue of 1.99307 billion baht, an increase of 537.83 million baht from Q1 2019, or a 37% increase. The majority of revenue came from property sales at 1.82474 billion baht, up 534.91 million baht from Q1 2019, representing a 41% increase. Net profit stood at 198.43 million baht, an increase of 47.29 million baht from Q1 2019, or a 31% increase, contrasting with the overall real estate market, which saw average sales revenue drop by nearly 30% and average net profit decline by over 40%. The company's sales primarily came from the transfer of ownership in the completed Metris Rama 9-Ramkhamhaeng project, which has already achieved over 80% sales. Additionally, ownership transfers are ongoing from several ready-to-move-in projects.

For the remainder of 2020, the company is focusing on strategies to accelerate sales of ready-to-move-in projects and ownership transfers for projects nearing completion, with a current backlog of over 3.3 billion baht. A highlight project is the Metris Ladprao, which is completed and ready for ownership transfer in Q2, with over 80% of sales already closed. The assessment of the real estate situation post-COVID-19 indicates a trend towards a new baseline referred to as the New Normal. Future real estate will involve designs that adapt to changing consumer behaviors and work patterns, as well as designs that facilitate increased technology use in homes. Furthermore, locations will need to meet the needs of those looking to purchase real estate, and an important strategy moving forward is to prioritize and care for customers' lifestyles at every step, providing comprehensive and continuous service.

Ms. Petchlada added, "Additionally, this year, the company has adjusted its marketing and sales strategies to align with the current situation, emphasizing online sales channels and launching campaigns to stimulate sales of ready-to-move-in projects. However, the perspective on marketing after the COVID-19 situation and the changes that will occur thereafter is something the business sector must adapt to the changing purchasing behaviors and media consumption. In such circumstances, this represents a "golden opportunity" for consumers looking to buy homes. Most operators are aware that the segment with the most significant price adjustments is condominiums, which have decreased by about 5% since Q3 2019 due to an economic slowdown over the past three years, leading to competitive promotions to stimulate sales. This will help consumers make easier decisions and find quality options that better match their lifestyles. Additionally, the company focuses on business growth alongside organizational and personnel development to build a strong team that can help expand the business and provide the best living experience in residential properties, while also seeking additional investment opportunities and creating added business value for sustainable growth."