Bangkok – All Inspire Development Public Company Limited, or ALL, has indicated that its presales for the first 9 months are on track to reach 7 billion baht for the year, supporting a backlog that has surged to 11 billion baht. This positions the company to steadily recognize revenue over the next 3 to 4 years. CEO “Thanakorn Thanavarith” stated that the proactive management strategy and comprehensive business operations give confidence that the revenue target for the next 3 years (2020 – 2022) will double.   

           Mr. Thanakorn Thanavarith, CEO of All Inspire Development Public Company Limited (ALL), a provider of various residential real estate solutions to meet the needs of all customer segments, revealed that after launching the Impression Ekkamai and The Excel Ladprao – Sutthisan projects earlier this year, all projects have received continuous positive feedback from customers. As a result, the company estimates that presales for the first 9 months are likely to reach 6.5 billion baht, exceeding 90% of the company's target.

           “Based on preliminary sales estimates, the company has already achieved over 6.5 billion baht, which is a significant growth surpassing the target (actually 90% of the goal). The total sales target set at the beginning of the year was 7 billion baht, with most sales coming from the continuous launch of new projects. At the same time, the company has adjusted its business strategy to focus on developing condominium projects along the subway lines, while also targeting real demand buyers at appropriate price levels, resulting in strong responses for condominiums in all locations,”

           The preliminary estimates further reinforce the company's confidence in the growth rate of its operations in 2019, aligning with the plans set from the beginning. Compared to the previous year, which had total revenue of 2,342.97 million baht, the company has already achieved total revenue of 1,691.94 million baht in the first half of the year. The trend for total revenue in the first 9 months is also showing positive growth.

           Currently, the company has a backlog of 11 billion baht, which it can gradually recognize revenue from over the next 3 to 4 years. Additionally, the company has projects awaiting revenue recognition in the fourth quarter, including The Excel Hideaway Sukhumvit 50 valued at 1.9 billion baht, The Excel Hideaway Sukhumvit 71 valued at 1.6 billion baht, The Vision Ladprao – Nawamin valued at 1.4 billion baht, and the Impression Phuket valued at 2.1 billion baht.

           “The significant increase in backlog since the beginning of the year is a result of the positive reception of new projects launched by the company, such as The Excel Ladprao – Sutthisan project valued at 1.2 billion baht, which was launched on August 3-4. The customer interest was very high, achieving presales of over 1 billion baht, accounting for more than 90% of the project value,”

           The company is also preparing strategies to penetrate the international customer market continuously, having established a management team with four nationalities: Chinese, Singaporean, Taiwanese, and Japanese, operating through Thai D Real Estate Co., Ltd. This company acts as an agent and broker for real estate sales in international markets, aiming to cover all dimensions of customer groups both domestically and internationally. Currently, the demand from this customer segment is gradually increasing, leading the company to confidently project that within the next 5 years, ALL will achieve presales in international markets reaching 25 billion baht.

           Regarding the progress of the investment in the leasehold rights of The New Forum Plaza shopping center in Chonburi, it is expected to be completed and commercially operational in the second half of 2020, which will result in the company generating average rental income of 200 million baht per year starting from 2021. This will lead to total revenue from this business of 5.8 billion baht over the 29-year lease term, with 90% coming from rental income and 10% from other sources.

           However, with the business restructuring plan, the company is confident that its performance over the next 3 years (2020 - 2022) will continue to grow from its three main businesses: revenue from property sales, recurring income from leasing space, and service income. Currently, it has revenue from property sales and service income, and the trend for performance over the next 3 years is expected to grow at a rate of 100% per year, while net profit is anticipated to grow in line with total revenue, driven by the gradual delivery of backlog.

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