NOBLE showcases Q1/67 growth despite unfavorable domestic sentiment, with sales in the first four months exceeding 4.3 billion baht. The company is set to launch 6 new projects worth a total of 21.13 billion baht to meet its sales target.

Noble Development Public Company Limited, or NOBLE, has reported growth in its Q1/67 performance despite challenging domestic sentiment. Sales in the first four months of the year reached over 4.3 billion baht, driven by strong momentum from international customers continuing from the previous year. The top three countries purchasing Thai real estate are Myanmar, China, and Taiwan. The company aims for total sales of 20.6 billion baht this year and plans to launch 6 new projects in the last 8 months of 2567, with a combined value of 21.13 billion baht. Additionally, measures to reduce property transfer registration fees and mortgage registration fees for residential properties valued under 7 million baht are expected to boost sales and property transfers in 2567.

Mr. Thongchai Busarapant, Vice Chairman and Co-CEO of Noble Development Public Company Limited or NOBLE, revealed that the company generated total revenue of 1.787 billion baht in Q1/2567, a decrease from the same period last year due to sales and deliveries of completed projects (Inventory) primarily from 2565-2566. However, the total transfer of ownership amounted to 1.785 billion baht, representing a 41% year-on-year increase, mainly from Nue Noble Ratchada Lat Phrao, Nue Noble Faichai - Wang Lang, Noble Aqua Riverfront Ratburana, Noble Terra Rama 9 – Ekkamai, and Noble State 39. The net profit stood at 79 million baht, growing 8% year-on-year.

In Q1/2567, the company launched one new project: Noble Norse Krungthep Kreetha, a single-house project valued at 1.48 billion baht, which has received a positive response from domestic customers, resulting in total sales (Presale) of over 4.3 billion baht in the first four months of the year. The sales were primarily driven by The Embassy Wireless, Noble Norse Krungthep Kreetha, Noble State 39, Nue Hype Suksawat, Nue Noble Ratchada Lat Phrao, and Nue Riverest Ratburana. The sales breakdown shows 34% from domestic customers and 66% from international customers, mainly from Myanmar, China, and Taiwan. Therefore, the company believes that international sales in 2567 will continue to set new records following the previous year's high of 5.2 billion baht, reinforcing NOBLE's strong international customer base.

In the last 8 months of 2567, the company plans to continue launching 6 new projects worth over 21.13 billion baht, consisting of 4 low-rise residential and condominium projects valued at 5.23 billion baht, and 2 high-rise condominium projects valued at 15.9 billion baht, distributed across various locations in Bangkok to meet ongoing demand and support sales targets of 20.6 billion baht.

As of the end of Q1/2567, the company has a backlog of sales worth 21.371 billion baht, which will be recognized over the next 3 years. Additionally, there are completed projects (Inventory), projects under construction, and newly launched projects totaling 34.625 billion baht located in high-potential areas, which the company believes will help achieve its revenue target of 14 billion baht.

Mr. Thongchai also discussed the overall real estate market, noting that foreign investors continue to show interest in Thailand due to positive impacts from geopolitical risks. Thailand remains an attractive investment destination with affordable property prices. Domestic customers are expected to benefit from government-approved economic stimulus measures in the real estate sector, including reductions in property transfer registration fees from 2% to 0.01% and mortgage registration fees from 1% to 0.01% for residential properties valued under 7 million baht.

Currently, the company has 32% of its products priced below 7 million baht, which is expected to drive sales and property transfers in 2567. Additionally, housing loans from the Government Housing Bank (GHB) include the Happy Home project with a fixed interest rate of 3% per year for 5 years and the Happy Life housing loan project with an average interest rate of 2.98% for the first 3 years. The Government Savings Bank also offers housing loans for the public with an average interest rate of 2.95% for the first 3 years and the D-HOME loan project starting at 3.5% per year. These factors signal positive trends that will enhance purchasing power.