ALL Pins Down Business Line Expansion for Shopping Mall in Chonburi, Expanding Empire into EEC, Signaling an Income Boost of 200 Million Baht Annually, Supporting Continuous Business Growth

          Bangkok - All Inspire Development Public Company Limited (ALL) announced that the board meeting has approved an investment in a shopping mall business in the heart of Chonburi, with a total value of approximately 600 million Baht and a lease term of 29 years. The goal is to become the top choice for customers in Chonburi and surrounding areas, as well as in the EEC economic corridor. CEO Thanakorn Thanawarit expects to generate an income of 200 million Baht per year after the mall opens in 2021, supporting a target of doubling revenue over three years (2019 - 2021) from 2019, with projected sales reaching 4.5 billion Baht after fully expanding into a comprehensive business model including residential real estate, shopping centers, and retail, ensuring a market cap of 10 billion Baht by 2021.

          Mr. Thanakorn Thanawarit, CEO of All Inspire Development Public Company Limited (ALL), a provider of various types of residential real estate solutions to meet the needs of all customer groups, revealed that the recent board meeting has resolved to establish a subsidiary with a registered capital of 10 million Baht to invest in the lease rights of The New Forum Plaza shopping center and to construct and modify the shopping center building in Chonburi, with a lease term of 29 years and a total value of approximately 600 million Baht.
 

          This move aims to create a comprehensive business growth channel in the long term, as well as to diversify income to reduce reliance on residential real estate alone. It also aims to create a stable and sustainable income for the company in the future. The investment funds for this venture come partly from the company's working capital and from loans from financial institutions, ensuring shareholders that there will be no capital increase.

          “The expansion into the shopping mall real estate business this time will involve bringing in professional management to oversee operations, addressing the company's focus on creating stable revenue growth through rental income and services from The New Forum Plaza shopping center, which will feature retail space on 11-3-74 rai with a total Gross Building Area of 34,952 square meters and a Gross Leasable Area of 11,593 square meters. Construction is set to begin in July 2019, with a grand opening anticipated in the second half of next year,” Mr. Thanakorn stated.

          The CEO of All Inspire Development (ALL) further added that the project's highlights will make it a focal point in Chonburi, as it is located in the city center, an area that is being enhanced by the Eastern Economic Corridor development project. In the future, there will be high-speed rail projects connecting three airports: Suvarnabhumi, U-Tapao, and Don Mueang, as well as the development of dual-track rail projects from industrial sources nationwide connecting to Laem Chabang, Map Ta Phut, and Sattahip for low-cost freight transport, with seamless operation and expanded highways and motorways to support future industrial and economic growth.

          In addition, the company aims to capture market share in the shopping center and retail market in Chonburi, with expectations to become the top choice for customers in the city center and surrounding areas, including the EEC economic corridor. It anticipates generating revenue from the shopping mall business after its official opening in the second half of 2020, with expected monthly revenue exceeding 10 million Baht, and after a full year of operation in 2021, an average annual revenue of 200 million Baht, with 90% coming from rental income and 10% from other sources.

          Therefore, it is confident that the revenue target over the next three years (2019 - 2021) will double from the 2019 target of 4.5 billion Baht, as the company continues to expand its comprehensive business model in residential real estate and shopping centers, and with this proactive management strategy, the company's market cap is expected to reach 10 billion Baht in the next three years as planned.
 
Thank you for the information from www.allinspire.co.th