RML (Raimon Land Public Company Limited) has announced its Q1 2024 earnings with presales of 173 million baht, primarily recognizing revenue from the transfer of ownership of two projects: ‘The Estelle Phrom Phong’ at 4.85 billion baht, or approximately 98% of the available units for transfer, and ‘Tait Sathorn 12’ at 2.85 billion baht, or about 70% of the available units for transfer. This reflects a positive response from customers. The company is preparing to face challenges in Q2 while continuing to execute its new business plan, which includes reducing unnecessary costs and seeking opportunities for project development and management to ensure strong long-term growth.

Brenton Justin Morello, CEO of RML, stated, “Amid various challenges faced by real estate operators, RML has still managed to generate revenue from the transfer of ownership of two condominium projects: The Estelle Phrom Phong, which has successfully closed sales and continues to transfer ownership, and Tait Sathorn 12, which has also seen good transfer figures. For Q2, RML will gradually recognize revenue from both projects, aiming for 100% ownership transfer by the end of this year, along with increasing regular revenue through tenant recruitment for OCC, the highest luxury Grade A+ office building in Thailand, complemented by new project sales.

This includes an ultra-luxury rare item project designed with unprecedented luxury in the market, catering to every aspect of a high-end lifestyle, located in the prime area of Phrom Phong-Thonglor, with an average selling price of 500–700 million baht per mansion, expected to start sales in the second half of this year.

The company remains committed to executing its strategic plan, focusing on building stability and a strong foundation while enhancing operational efficiency to deliver valuable returns to shareholders and all stakeholders.

* Information as of March 31, 2024


OCC


Tait Sathorn 12


The Estelle Phrom Phong