Ananda Development Public Company Limited, or ANAN, a leader in urban residential development, holds the top position in the market for condominiums near BTS stations. The company is confident that its outstanding performance will meet the set targets, following a first-quarter profit of 232 million baht, a 61% increase from the same quarter last year, driven by strong profits from joint venture projects. The transfer of ownership amounted to 5.631 billion baht, exceeding the target by 39% and increasing by 47% compared to the same period last year. Sales reached 4.815 billion baht, surpassing the target by 19%. The company believes that the second half of the year will see growth exceeding the first half due to the launch of more projects and the development of service apartment projects to support ongoing income.

Dr. Chaiyuth Choonhacha, Chief Financial Officer of Ananda Development Public Company Limited, stated, "In the second half of the year, we expect continuous transfers and sales growth compared to the first half, coming from both new and existing projects. The company has a backlog worth 37 billion baht that will be gradually recognized throughout the remainder of 2022 until 2024."

Regarding recurring income, the company currently has five service apartment projects in its development plan, with four projects under construction: SOMERSET RAMA 9, LYF SUKHUMVIT 8, ASCOTT EMBASSY SATHORN, and ASCOTT THONGLOR BANGKOK. The fifth project, SOMERSET PATTAYA, is set to begin construction in the second half of 2022. The SOMERSET RAMA 9 and LYF SUKHUMVIT 8 projects are expected to be completed, operational, and generate income in the first half of 2023, with anticipated recurring income of over 1.8 billion baht in 2025.

"However, challenges in the real estate market remain, both from domestic and international factors. The company is aware and continuously monitoring the situation, ready to adjust business plans if necessary to maintain long-term stability. All of the company's business plans continue to support ongoing growth and emphasize its leadership in the condominium market near BTS stations in Thailand, while maintaining strict financial discipline with a long-term target of a net interest-bearing debt-to-equity ratio of 1. We must ensure that the company's growth does not increase risks that could impact its long-term stability," Dr. Chaiyuth added.

In the second quarter, the company launched the IDEO Q Phaholyothin-Saphan Khwai project, a highlight project developed in collaboration with Mitsui Fudosan, which has the highest project value the company has ever developed. It achieved sales of 39% of the total units available for sale, reflecting that the market for condominiums near BTS stations continues to have ongoing demand. Consumers are still ready to purchase if the products meet their living needs and are priced affordably. The company also launched the Unio Town Pracha Uthit 76 project, which is another horizontal project.

Thank you for the information from www.ananda.co.th