Dr. Vichian Patthayanun, Chief Executive Officer of Chao Phraya Mahakhan Public Company Limited (CMC), a property developer in prime locations, announced that CMC reported a significant increase in its performance for the three months of Q3 2022, with total revenue growing by 31.5% to 105.5 million baht. This marks an increase from 335.2 million baht in Q2 to 440.7 million baht in Q3, driven by the real estate sector, which is the core business of the group, achieving a record high since the COVID-19 pandemic began two years ago, generating revenue of 386 million baht. This success is attributed to a strategic shift towards Local Marketing, effectively targeting Real Demand. Additionally, the design and living function concepts of CMC projects cater to the diverse lifestyles of all family members, and with affordable pricing in proximity to BTS/MRT lines, CMC projects continue to attract customers across all segments.

For Q3 2022, the group achieved a net profit of 5.1 million baht, up from 2.8 million baht in Q2 2022, reflecting a continuous increase in revenue throughout the three quarters of 2022. Furthermore, CMC has adjusted its plans to delay the launch of three new projects due to changes in living formats and functions to better meet consumer trends in the Next Normal era post-COVID-19. The company is also negotiating several Big Lot transactions to accelerate immediate revenue recognition.

CMC plans to make a strong push in the final quarter of the year, as the real estate business still has a target customer base looking to make purchases amounting to 150 million baht from the 42nd Home and Condo Expo. The company is preparing to launch campaigns with the best offers, aiming for a Clearance Sale of fully furnished ready-to-move-in condominium projects in four BTS/MRT locations to boost ownership transfers in the year's final stretch. Additionally, positive factors such as rising labor and material costs, along with the expiration of LTV measures at the end of this year, are expected to encourage consumers to expedite their housing purchase decisions. CMC is confident that the overall business will show improved recovery and a positive trend in the final quarter of the year.