Peace and Living Public Company Limited or PEACE has announced its 2022 first half performance, achieving total revenue of over 949 million baht, a 74% increase compared to the same period in 2021, with Q2/2022 revenue reaching 501 million baht. This surpasses the first half target, with profits growing despite inflation. The company is pleased to have sold out 100% of two projects, reinforcing its strength with NPA = 0 across all developed projects. PEACE is moving forward with the launch of two new brands, CHERENE and CHEREA VICINITY, as part of its strategy to expand its horizontal project segments to meet diverse customer needs, starting with the “CHERENE Bangkok Kritha – Romklao” project valued at 700 million baht in Q3.

Mr. Prasopsak Srisopana, CEO of Peace and Living Public Company Limited or PEACE, a real estate developer with over 30 years of experience, revealed that the first half of 2022 (January-June 2022) recorded total revenue of 949 million baht, the highest ever (All Time High), representing a 74% growth from the first half of 2021, which had total revenue of 545 million baht. The net profit was 208 million baht, a 105% increase compared to the same period in 2021, which had a net profit of 102 million baht. This growth was primarily due to improved cost management and control of selling and administrative expenses. The performance in Q2/2022, with total revenue of 501 million baht, significantly contributed to the overall growth in the first half, achieving 12% higher than Q1/2022, which had revenue of 448 million baht. As of the end of June 2022, sales amounted to approximately 1,103 million baht, with a backlog of 886 million baht expected to be recognized as revenue throughout this year and into early 2023.

“For 2022, it marks a new step for the company in growth, aiming to strengthen its financial position and enhance its business expansion capabilities. In the first half, the company successfully sold out two projects: the Choe Wong Wan - Sathorn project valued at 578 million baht, which has been fully transferred, and the The Glamour Ekkamai – Pradit Manutham project valued at 509 million baht, which is currently in the process of delivering homes and transferring ownership,” Mr. Prasopsak stated.

Additionally, the company has undertaken a Brand Refresh to assure customers that PEACE is committed to creating residences that genuinely meet the evolving lifestyle needs of today’s customers, delivering homes with excellent quality standards in prime locations at reasonable prices. The logo has also been updated to be more distinctive and modern for better recognition and clearer access to target customers.

“In the second half of this year, the company will continue to launch two new projects under the brands “CHERENE” (starting price 7-12 million baht for single houses) and “CHEREA VICINITY” (mixed product project on a large area connecting Bangkok and its suburbs, starting price 3-15 million baht) to meet modern lifestyle needs, still focusing on the company’s main customer base, which includes middle-class residents of outer Bangkok and the surrounding areas who seek horizontal homes with easy access to the city. The launch will kick off in Q3 with the “CHERENE Bangkok Kritha – Romklao” project, a single house project under the concept of “Reconnect & Refocus,” offering three new house designs, with a large common area, jogging track, and bike lane in the garden, along with access roads adjacent to Romklao Road and a unique main runway road, valued at 700 million baht,” Mr. Prasopsak concluded.