Noble Development Public Company Limited (NOBLE) has showcased impressive sales performance (Pre-sale) for the first seven months, achieving a record high of 12.54 billion baht. This surge has propelled the backlog to 21 billion baht, reflecting a recovery in the real estate market. The company is confident that this year’s revenue will grow from five projects nearing completion, with an expected recognition of over 6 billion baht in 2022 from the backlog. NOBLE is also set to launch a new townhouse project, Noble Curve, in the Ekkamai-Ramintra area, valued at over 3.8 billion baht, targeting middle to upper-class customers.

Mr. Thongchai Busarapant, Vice Chairman and Co-CEO of Noble Development Public Company Limited (NOBLE), a leader in real estate development in prime locations of Bangkok and its suburbs, revealed that the overall real estate market is showing clear signs of recovery as the COVID-19 situation improves. This has revitalized consumer sentiment and purchasing power, leading to continuous growth in the real estate market. This is evident from NOBLE's sales (Pre-sale) in the first seven months of 2022, which reached 12.54 billion baht, a 173% increase compared to the same period last year. This sales figure marks a new quarterly high and surpasses the total sales of 8.035 billion baht for the entire year of 2021.

In the first seven months, sales were divided into 10.062 billion baht from high-rise condominium projects and 2.478 billion baht from low-rise projects and condominiums. Of this, 1.286 billion baht came from completed inventory, while 11.254 billion baht came from new projects and those under construction. Recently, the company launched a total of nine new projects valued at over 23.1 billion baht, which received a positive response with an average pre-sale rate exceeding 50%. Additionally, existing projects such as Noble B19 Sukhumvit, Noble Gable Watcharapol, New Connect House Don Mueang, and Noble Around Sukhumvit 33 continue to generate sales.

As a result of the aforementioned sales, NOBLE's backlog has exceeded 21 billion baht, which will gradually be recognized as revenue throughout the remainder of this year and into the next 2-3 years. It is anticipated that over 6 billion baht will be recognized in 2022. This backlog assures the company of continuous revenue recognition, enabling it to achieve its operational growth targets and instilling long-term confidence among investors.

For the overall performance in the first half of 2022 (January-June), the company reported total revenue of 2.54 billion baht, a 48% decrease year-on-year, and a net loss of 21 million baht, a 103% decrease year-on-year. In the second quarter of 2022, the company had total revenue of 1.043 billion baht and a net loss of 14 million baht due to the absence of new completed projects ready for transfer, unlike the same period last year when there were new projects ready for transfer. The revenue recognized in the first half of 2022 came from projects such as Noble B19 Sukhumvit, New Chaengwattana, New Connect House Don Mueang, and Noble Gable Watcharapol, all of which are ongoing projects that continued to transfer ownership from late 2021.

Mr. Thongchai further stated that the second half of 2022 (July-December) is expected to see continuous improvement in operations, with the gradual delivery of new projects such as Noble State 39, New Ngamwongwan, New Srinakarin-Lasalle, Noble Around Ari, and New Noble Center Bangna. Additionally, there are low-rise projects ready for delivery alongside new sales launches, including New Connect House Don Mueang, Noble Curve, Noble Curate, and New Cove North Ratchaphruek. The company also plans to continuously launch new projects, starting with the "Noble Curve," a new concept townhouse project called "Urban Home" located in the central area along the Ekkamai-Ramintra expressway, priced between 12-30 million baht per unit, with a project value of over 3.8 billion baht, set to launch in August.

“With the improving COVID-19 situation, the easing of restrictions, and positive economic activities, the real estate market is continuously recovering. This is reflected in the positive responses to our projects and the reopening of the country to tourists, which positively impacts domestic sentiment. This will help revive the economy and income of the local population, while also providing opportunities to boost foreign purchasing power, especially from Chinese clients who continue to inquire, as well as clients from other countries such as Singapore, Myanmar, and Europe who are increasingly interested in investing in real estate. This is a market that will support us during the period when China has not fully reopened,”