PROUD is confident in its business direction for 2023, expecting continuous growth. In Q1/2023, the company will launch both horizontal and vertical projects in the CBD (Central Business District) to boost revenue. The company plans to acquire more land in prime tourist areas to further enhance growth, emphasizing its strategy to develop residential properties under the concept of More Than Just Living, addressing the needs of real demand customers and ensuring steady income, with a revenue target of 2 billion baht this year.

Mr. Pasu Liptapanlop, Executive Director of Proud Real Estate Public Company Limited (PROUD) stated that the business outlook for 2023 is positive, with the overall economy of Thailand showing signs of improvement following the easing of the COVID-19 situation. This has boosted the purchasing power of Thai consumers. Additionally, the country's reopening policy has revitalized the tourism sector, attracting more foreign tourists and investors, which positively impacts the real estate business.

In the first half of the year, the company plans to launch all its targeted CBD projects, including its first single-detached house project in a prime location in Ari Soi 3 and the ROMM CONVENT project, bringing the total value of projects in hand to 10.748 billion baht.

The key driver for Q1/2023 remains the marketing and sales efforts for the ROMM CONVENT project, valued at 4.15 billion baht. The focus is on creating awareness around the core concept of the project, Live. Well. Life, which aims to provide joy and happiness for a long and fulfilling life in all aspects. Since its launch earlier this year, it has attracted interest from real demand customers, medical professionals, and workers in the Silom-Sathorn area. The company is preparing to showcase special unit rooms, the Sky Villa, which offers a rare view of Lumpini Park.

Additionally, the company is strategizing marketing activities to promote sales for the VEHHA HUA HIN project, a luxury mixed-use condominium in the heart of Hua Hin, valued at 2.29 billion baht, which is currently on sale. The project has received positive feedback, and a PRESALE event with discounts of over 500,000 baht is scheduled for March 18-19.

Meanwhile, the Intercontinental Residences Hua Hin project, valued at 3.813 billion baht, has 45% of ownership rights pending transfer, amounting to 1.7 billion baht. The transfer of ownership has been gradually occurring since the beginning of the year, and the project is expected to be completed by the first half of 2023.

Furthermore, the company is planning to acquire new land, focusing on expanding new projects in prime locations in the CBD, targeting real demand customers. It is also studying quality locations in tourist cities to enhance growth while committing to develop projects under the business philosophy of More Than Just Living, creating residential solutions that meet lifestyle needs.

“The company is confident that Proud Real Estate will continue to grow through the gradual launch of new luxury projects in prime areas, along with restructuring management to improve efficiency, reduce operational costs, and maximize resource utilization. Additionally, marketing strategies and various promotional activities are being established, with a sales target for four projects set at 3.7 billion baht, supporting the company’s total revenue to exceed 2 billion baht this year, as planned,” Mr. Pasu stated.

For the fiscal year 2022, the company reported revenue of 2.108 billion baht, an increase from the previous year when there was no revenue, and a net profit of 229 million baht, up from a net loss of 97 million baht in the previous year.

In Q4/2022, the company achieved revenue of 1.116 billion baht and a net profit of 168 million baht, setting a record high, driven by the continuous transfer of ownership for the Intercontinental Residences Hua Hin throughout the second half of 2022.