Ananda Development Public Company Limited (ANAN), a leader in urban residential development, holds the top position in the condominium market near the BTS Skytrain. The company is committed to developing housing that perfectly meets the needs of urban living. It has demonstrated strong adaptability amid challenging circumstances, achieving continuous growth. In Q2 of 2023, Ananda reported impressive results, with transfers increasing from 1,412 million baht in Q1 to 1,507 million baht, a 7% increase compared to the previous quarter. Notably, the horizontal segment saw significant adjustments focusing on premium customers, with sales growing by 77% and transfers increasing by 53% from Q1, resulting in a net profit of over 257 million baht, a 42% increase from the same period last year. This reflects the company's strategic adaptability to meet urban demands through residential developments in prime locations across Bangkok, including over 100 projects of condominiums, houses, and townhomes under quality brands. Recently, the response to three new ready-to-move-in projects has exceeded expectations, with total sales reaching over 9,483 million baht, or 78% of the total value, confirming that demand for completed residences near the BTS continues to thrive. The company is confident that the second half of the year will perform well, following positive signals, and that it can meet its annual targets. Ananda is also preparing to issue a new one-year bond with an interest rate of [6.75 – 6.85]% per annum, offered to institutional and/or major investors.

Mr. Chanont Ruangkritya, CEO of Ananda Development Public Company Limited (ANAN) stated that Ananda reinforces its leadership in the condominium market near the BTS and urban housing with over 100 projects, effectively understanding and accessing urban customers, earning their trust and confidence in the Ananda brand through various crises. This has been a significant opportunity for Ananda to strengthen and grow continuously. Amid challenging situations, the company remains committed to business development and steady growth, emphasizing effective management of ready-to-move-in products to create competitive advantages, ensuring that the company’s performance aligns with economic conditions while maintaining its status as the number one brand for urban residents through outstanding design and quality standards in products and services, enhancing the sustainability of urban living.

Ananda emphasizes strict financial discipline, having consistently repaid bonds in full, including principal and interest, since 2023, totaling over 17,928 million baht, which has built trust among investors and supporters. In May, the company offered bonds worth 770 million baht, which attracted significant interest from investors, resulting in full subscriptions, reflecting confidence in the company's potential and credibility. Ananda prioritizes each bond issuance, using the proceeds for ongoing business operations to foster growth under the URBAN LIVING SOLUTIONS stance, developing housing that addresses urban living challenges and enhances the quality of life.

Mr. Prasert Taedulayasathit, CEO of the Real Estate Business Division at Ananda Development Public Company Limited mentioned that the overall real estate market is expected to become clearer in Q3-4, marking the beginning of adjustments and recovery moving forward. Operators must adapt and adjust their operational strategies to navigate through the crisis while awaiting a return to strong recovery and growth. However, positive signals are emerging from the homebuyer confidence index, which has risen to its highest level in a year, reflecting various supportive factors that are beginning to stimulate the market. Ananda continues to maintain a growth level effectively amid challenges, resulting in satisfactory performance, with Q2 2023 showing improved signals and a net profit of 257 million baht, a 42% increase from the same time last year.

In the first half of 2023, Ananda has continuously adapted, resulting in total transfers in Q2 growing from a strong backlog and luxury home portfolio. In Q1, transfers increased from 1,412 million baht to 1,507 million baht, a 7% increase compared to the previous quarter. The company successfully adjusted its luxury home portfolio, focusing on the premium segment that better meets market demands, leading to a 77% increase in luxury home sales compared to the previous quarter and a 53% increase in transfers. Notably, the ARTEL Asoke-Rama 9 project offers private luxury pool villas, with only 87 units available in the heart of Rama 9, and the ARI Sukhumvit-Bangna Km. 5 project features modern classic design single houses with only 40 units, located near the expressway. Additionally, the URBANIO MEZZ Vibhavadi-Chaengwattana project offers premium townhomes with 3.5 stories and a large area of 198 sq.m., close to Don Mueang Airport and two MRT stations.

Furthermore, Ananda has achieved success with three new ready-to-move-in projects (3 Unpack) valued at a total of 12,098 million baht, with current sales exceeding 78%, totaling 9,483 million baht. These include the IDEO Ramkhamhaeng-Lamsali Station project valued at 2,512 million baht, with sales of 1,954 million baht (Sold 78%) and over 620 million baht in transfers in the first month; the CULTURE Thonglor project valued at 3,466 million baht, with sales of 3,340 million baht (Sold 96%); and the CULTURE Chulalongkorn project valued at 6,120 million baht, with sales of 4,189 million baht (Sold 68%). The response has been overwhelmingly positive, with over 1,284 million baht in loan assessments within the first two days of the PRE-APPROVE event. All sales represent a strong backlog ready for revenue recognition, reflecting confidence in the brand and the potential of all three projects, as well as reaffirming readiness to deliver quality residences that are immediately habitable.

The company has an inventory ready to generate revenue totaling over 29,373 million baht, with a backlog of recognized sales ready for revenue of over 10,130 million baht, which will contribute to income from the second half of 2023 to 2024.

Ananda places great importance on post-sale customer care under the ANANDA SURE standard, providing customer service across various dimensions with professional structural standards, starting from a strong foundation in structure, materials, and construction systems that meet ATQPM standards (Ananda Total Quality Project Management), a project quality management system developed in collaboration with global partners from Japan to elevate the standards of Thai real estate, ensuring confidence in every situation. This instills peace of mind for Ananda residents, allowing them to feel secure and confident in all circumstances.

Additionally, Ananda is moving forward to expand its development base to Phuket, marking a significant step in leveraging business potential from Bangkok to new high-potential markets with plans to develop the Mira Valley mega-project on over 550 rai, instilling long-term investment confidence among shareholders and investors. The company is preparing to issue a new one-year bond with an interest rate of [6.75 – 6.85]% per annum, paying interest every three months, secured by land of 99 rai and 46.5 sq.w. in the heart of Phuket, valued at 1,506 million baht, offered to institutional and/or major investors, which is expected to build confidence in the company's sustainable growth strategy.

“Ananda remains confident in the potential of the urban housing market and believes that the demand for ready-to-move-in residences continues to exist. We reaffirm our strong business operational potential, moving forward with a clear and stable operational plan by developing quality projects that truly meet urban living needs and cover all segments, with ready-to-move-in projects in the best locations supporting the company's continuous growth to deliver a better quality of life while emphasizing cash flow management, leading to a foundation for sustainable growth for the organization, investor customers, and society as a whole,”Mr. Chanont concluded.