Ananda Development Public Company Limited, or ANAN, a leader in urban residential development and the condominium market near BTS stations, showcases a robust backlog of over 11.37 billion baht, supporting long-term growth. The company is confident that the "condo market" will face short-term impacts due to recent earthquakes but believes there are positive factors aiding market recovery, such as a potential decrease in interest rates this year and government measures to stimulate the real estate sector, including the easing of LTV regulations and reducing transfer and mortgage fees to 0.01%. These measures are seen as beneficial for the overall real estate market, and the company believes that the market can continue to progress despite a slowdown, positively impacting the company by stimulating purchasing power and pushing the backlog forward. This is seen as a golden opportunity for consumers looking to own their own homes, aiming to quickly restore customer confidence. Condominiums near BTS stations remain in high demand among urban residents, and it is expected that demand for these properties will return strongly after the crisis!

Mr. Chanont Ruangkritya, CEO of Ananda Development Public Company Limited, stated that the economic situation and the overall real estate market are expected to face challenges and uncertainties continuously. Every organization must adapt and adjust its business strategies to navigate through this crisis. Ananda has prepared plans to manage risks and uncertainties that may arise, remaining flexible to ensure business continuity. The company believes that government measures to stimulate the real estate market will help restore confidence. Once the situation begins to improve, everything will return to normal, and it is believed that "cities will continue to thrive" as most consumers prefer to live in urban areas close to work and shopping centers, necessitating affordable condominium living. Cities are centers for educational development, knowledge, job opportunities, and leading organizations.

However, Ananda continues to emphasize strict financial discipline, maintaining a net debt-to-equity ratio of 1.22 times by the end of 2024, and is committed to repaying all bonds on schedule. In the past, the company has fully repaid bonds as scheduled, totaling 15.65 billion baht from 2023 to Q1 2024, and is preparing to repay bonds worth 2.28 billion baht on June 9, 2025, to build confidence among all bondholders. The funds raised from bond offerings have been used for ongoing business operations to foster growth under the URBAN LIVING SOLUTIONS initiative, aimed at addressing urban living challenges and enhancing the quality of life for city dwellers, achieving the targets set in the business plan, resulting in profitable operations for the first time in five years.

Mr. Prasert Taedulayasathit, CEO of the Real Estate Business Division at Ananda Development Public Company Limited, stated that the real estate market in the coming year will still be a year of business stabilization. Despite supportive factors from government measures that temporarily ease LTV regulations and reduce transfer and mortgage fees to 0.01%, these measures come at a good time after the real estate market faced crises from earthquakes and tax increases, helping consumers access housing loans and make purchasing decisions more easily. This will positively impact the real estate market this year in terms of sales and transfers. Overall, the market still has positive factors supporting its recovery after a slowdown due to various events.

With these measures, Ananda will fully benefit from the transfer of various projects, leveraging its strength as a leading real estate developer near BTS stations with quality products ready for transfer in prime locations in Bangkok. Over 40% of the backlog eligible for transfer this year is priced below 7 million baht. In 2024, Ananda has a strong backlog of over 11.37 billion baht, accounting for 79% of the target transfer goal of 14.5 billion baht. Ananda plans to transfer three new projects ready for occupancy: Ideo Ramkhamhaeng-Lamsali Station, ready for transfer in Q2, and Culture Thonglor and Culture Chula, ready for transfer in Q3, with a total value of over 12.08 billion baht, ensuring that the company will meet its transfer target this year and is expected to support transfer volumes and profitability.

In the first quarter of 2024, Ananda achieved sales of over 3.68 billion baht, exceeding the target by 114%, with international customers accounting for over 53% of total sales in Q1 2024, signaling positive trends. This gives confidence that the company’s bond offerings are a financial tool that has been used to expand the business according to its objectives, supporting the growth of the domestic real estate market as planned.

Regarding the recent earthquake that raised concerns among consumers, particularly in the condominium and high-rise markets, there were worries about potential impacts. However, high-rise buildings in Thailand have proven capable of withstanding tremors effectively, with no reports of severe damage or structural collapses. Thailand's building construction standards remain among the best in the world, designed to withstand earthquakes rigorously since 2007. Additionally, the condominium industry has insurance coverage for 5,994 projects, with a protection value of 3.8 trillion baht, funded by annual insurance premiums of over 2.2 billion baht, independent of government support. It is believed that the condominium market will face short-term impacts, as consumer panic and concerns subside, leading to a renewed focus on selecting condominiums that meet safety standards, with confidence that demand will return to normal.

Following the earthquake, Ananda prioritized the safety of residents in all projects, implementing proactive measures to inspect high-rise structures by a senior management team led by Mr. Chanont Ruangkritya, along with engineers and experts from the company, collaborating with building management, external engineers, and Bangkok officials. Safety was certified by Bangkok officials who inspected the structural integrity and safety systems in detail across all 95 projects, including 69 condominiums and 26 houses and townhomes, from March 28 to April 3, 2024. Ananda has operated under the ANANDA SURE standards promptly and systematically as follows:

1. Strong Structures inspected by expert engineers under the ANANDA SURE guidelines, with immediate inspections of all projects following the incident, confirming structural stability and providing transparent reports for the highest safety of residents.

2. 24-Hour Hotline ready to assist immediately. Residents can contact to report incidents or inquire for information anytime through the Call Center at 02-316-2222 and easily report repairs via the COCORO app at any time, ensuring support in all situations.

3. On-Site Care with the The Works team from the project management company immediately on-site to care for, inspect, and closely advise residents, coordinating assistance in all cases.

4. Collaboration with Experts to systematically inspect buildings, working with construction companies, independent building inspectors, and officials from Bangkok to conduct inspections and obtain building safety certificates, meeting the “Green Building” standards set by Bangkok to ensure safety for residents according to government standards.

5. Damage Assessment and professional restoration to original condition, collaborating with project management and insurance companies to assess damage and source qualified contractors to quickly and effectively restore common areas and systems to their original state.

To ensure that residential projects under Ananda's management remain strong, safe, and adhere to strict engineering standards, Ananda will coordinate with management to ensure repairs and improvements are completed as quickly as possible, all under property insurance policies (IAR or Industrial All Risk) established by the condominium management for the protection of residential units and common property. Ananda’s condominium projects have insurance coverage for buildings and units to alleviate concerns from unforeseen events, with a total insured value of 76.84 billion baht, providing residents with peace of mind with coverage amounts within units ranging from 100,000 to 200,000 baht per unit.

Ultimately, Ananda prioritizes the safety of all residents, ensuring management quality and service under the ANANDA SURE system, the best operational system in the real estate industry, driven by the highest standards covering all aspects of QUALITY, community-focused services, and WORRY FREE experiences, supported by The Works, a professional management team overseeing various projects under the ANANDA SURE standards, along with the COCORO application that simplifies living, providing convenience and comprehensive features, ensuring confidence for Ananda residents with 24-hour support.

This year, Ananda plans to launch two new condominium projects in prime locations in Bangkok: Saphan Khwai with a project value of 8.82 billion baht and Chula with a project value of 5.44 billion baht. Additionally, the company has strategized to diversify investments by developing various types of residential projects targeting different market segments, including the expansion into Ultra Luxury projects such as the Porsche Design Tower Bangkok, the first ultra-luxury residential project in Asia valued at 15 billion baht, in collaboration with Ananda Development and Porsche Design, a global design expert, located in the prime area of Sukhumvit 38, Thonglor, a high-end lifestyle area in Bangkok, with show units expected to be available for viewing in mid-2024. Additionally, the MIRA VALLEY project, a luxury residential project valued at 50 billion baht on over 550 rai in the Kamala mountain range and Bang Niew Dam area in Phuket, redefines luxury under the concept of "Green is the New Luxury," integrating luxury with sustainability, developed under LEED (Leadership in Energy and Environmental Design) standards with solar energy systems, environmentally friendly construction materials, and sustainable water resource management, including 100% underground electrical systems to minimize visual impact.

“Ananda is confident that urban residents will return to city life, transforming the crisis into learning experiences that drive sustainable quality development, allowing city dwellers to live safely, grow, and move forward together, ensuring that cities can continue to thrive, and remains confident in the potential of condominiums near BTS stations, which continue to meet the limitless demands of urban living,” concluded Mr. Chanont.