RML Reports Q1 2021 Net Profit 

Growth of 199% Compared to the Same Quarter Last Year

 

Bangkok, Thailand – Raimon Land Public Company Limited (RML), a leader in luxury real estate development, announced a net profit of 138 million baht in Q1 2021, defying the challenges posed by COVID-19. This growth is attributed to a rebranding effort aimed at expanding its customer base among the high-spending young generation, alongside an accelerated plan to launch new projects in 2021, anticipating new government measures to expand the foreign customer limit. The Q1 2021 results mark a return to profitability after five consecutive quarters of losses, reflecting the success of the new strategy.

Mr. Karon Narongdej, CEO of Raimon Land Public Company Limited, stated, “In Q1 2021, the company saw a 322% increase in real estate revenue compared to the same period last year, following the implementation of a new strategy to boost sales of current projects. Despite the third wave of COVID-19, we are confident that the market will eventually adapt. Additionally, the accelerated vaccination efforts in Thailand and globally give us confidence that the situation will recover soon.”

After assessing market demand, the company found that the young generation, who prefer novelty and have high purchasing power, represents a significant segment actively seeking luxury housing. This has prompted the company to adjust its strategy to better reach this demographic.

Currently, the company has successfully closed sales for The Loft Silom project and has sold all remaining units in The River, Unix South Pattaya, and The Loft Asoke projects during this first quarter. Moving forward, the company will focus on The Estelle Phrom Phong and The Tett Sathorn Twelve projects, which are under construction, along with other new projects that will be announced soon.