Noble Development Public Company Limited, or NOBLE, has announced its business plan for 2022, preparing to launch 18 new projects valued at a total of 47.7 billion baht in prime locations near shopping malls and in the city center. The strategy focuses on diversifying locations and creating a variety of price points to meet all customer needs. The company aims to kick off with the first five projects, targeting sales of 28 billion baht and transfers of 13 billion baht, with joint venture projects expected to generate over 10 billion baht in revenue, supported by a backlog of 5.7 billion baht.

 

Mr. Thongchai Busarapant, Vice Chairman and Co-CEO of Noble Development Public Company Limited, stated that the overall real estate market in 2022 is expected to recover from 2021, despite some impact from the Omicron variant. He believes that the accelerated vaccination campaign and various measures will restore consumer and investor confidence.

This is also a great opportunity for customers planning to purchase real estate during this period, as the government has extended measures to reduce transfer fees and mortgage fees until the end of 2022. Additionally, there are relaxations for foreigners to hold Thai real estate for longer periods, and the Bank of Thailand has announced the easing of regulations governing housing loans and related loans (LTV measures) to stimulate the economy through the real estate sector until the end of 2022, which will positively impact the overall real estate industry this year.

Noble has set a business strategy for 2022 that continues to focus on proactive expansion for strong future growth. This year, the company plans to launch 18 new projects with a total value of 47.7 billion baht, including 12 low-rise condominium projects valued at 18.8 billion baht and 6 high-rise projects worth 28.9 billion baht.

    "We aim to increase the proportion of low-rise projects and low-rise condominiums in our portfolio to better cater to a diverse customer base. Developing low-rise projects will allow the company to recognize revenue more quickly due to shorter construction times,"

      It is expected that the proportion of low-rise project development in the portfolio will increase to nearly 50% (according to Noble's investment ratio), with plans to develop projects in more diverse locations to meet all residential needs across all directions in Bangkok, such as Ekkamai-Ramintra Road, Don Mueang Zone, Srinakarin Road, Krungthep Kreetha Road, Rat Burana Road, Suk Sawat Road, Rajaphruek Road, and central locations like Ploenchit Road, among others.

 

          In the first quarter of 2022, "Noble" is preparing to launch 5 condominium projects valued at a total of 15 billion baht, highlighting condominiums near shopping malls, projects in the heart of Ari, and landmark projects in Don Mueang, including:

          1. Nue Noble District R9 valued at 6.2 billion baht, a condominium concept of "A district that meets dynamic living in the heart of Rama 9", located next to Central Rama 9, just 180 meters from the MRT. Close to the interchange station BTS Asoke and Airport Rail Link Makkasan, with wide rooms starting at just 2.9 million baht.

          2. Nue Noble Mega Plus Bangna valued at 3 billion baht, a condominium concept of "When everything you need is close... just a step PLUS your dream life to be MEGA more than anyone at Nue Mega Plus Bangna" located right next to Mega Bangna, with modern design and wide rooms starting at just 1.89 million baht.

 

            3. Nue Noble Z-Square Suan Luang Station valued at 700 million baht, in the concept of "Live life not far from the city anymore with low-rise condos with wide rooms, located next to Seacon Square, just 3 minutes from the MRT Yellow Line station 'Suan Luang R.9', connecting all travel easily from MRT Blue Line/Orange Line/Green Line and Airport Rail Link" starting at just 1.79 million baht.

          4. Nue Noble Evo Ari valued at 2.9 billion baht, a condominium under the concept of "Evo, life closer to Ari than anyone! With wide rooms on the last piece of land in the heart of Ari" located just 300 meters from BTS Ari, starting at just 3.9 million baht or 130,000 baht/sqm.

 

          5. Nue Noble Connex Condo Donmueang valued at 2.2 billion baht, a high-rise and low-rise condominium at a new landmark in the heart of Don Mueang, with modern design and wide rooms, located on a major road with two access points, Phahonyothin-Vibhavadi, close to two BTS lines, just one minute to the tollway and five minutes to Don Mueang Airport, starting at just 1.09 million baht.

 

            The remaining 13 projects, including both high-rise and low-rise condominiums, twin houses, and townhomes, will be gradually launched throughout the remainder of 2022. Additionally, there are 14 completed projects ready for transfer this year, divided into:

1) Four high-rise condominium projects including Noble State 39, Nue Noble Srinakarin-Lasalle, Noble Around Ari, and Nue Noble Ngamwongwan, which will gradually transfer ownership in the second half of 2022.

2) Ten low-rise and low-rise condominium projects including Noble Gable Watcharapol, Nue Noble Connex House Donmueang, Nue Noble Center Bangna, and new projects on Ekkamai-Ramintra Road, Rajaphruek Road, Suk Sawat Road, Jamnian Soem Road, and Cha-am District, which will gradually be built and transferred starting from early next year.

            Regarding investments in the United Kingdom, the company's strategy in 2021 began with the purchase of over 40 apartments in central Manchester and Leeds, valued at a total of £6.7 million. By the end of 2021, the company was able to sell more than 30% of the total number of rooms with an internal rate of return (IRR) of 35%. The company believes this business model will combine strong recurring income with good margins from the sale of these assets.

            For 2022, the company aims to purchase 550 completed real estate units in the Midlands and northern England, with an investment value of around £100 million. The current market situation is attractive as the purchase prices are over 30% lower than newly built properties, and with a short investment period, the company expects a return on equity (ROE) of around 20%-25%, aligning with the company's policy.

However, Noble is in the process of enhancing payment options for customers by introducing digital currencies for real estate transactions using cryptocurrency, with the process expected to be completed and operational by the second quarter of 2022. This will provide an additional convenient payment option for both Thai and foreign customers, and it aligns with the anticipated return of Chinese customers in the second half of 2022.

            The addition of digital currency payment options for foreign customers will reinforce Noble's strengths, allowing it to capture a market share of 56% of total sales among all operators in condominium sales in Bangkok and its vicinity for foreign customers during the first nine months of 2021. This strategic expansion of investment by Noble positions the company as a leading developer of Thai real estate brands, aiming to be in the TOP 5 in the future.