Noble Development Public Company Limited or NOBLE has unveiled its business plan for 2024, setting a revenue target of 14 billion baht with a backlog of 21 billion baht. The company signals its intention to penetrate quality locations and is set to launch 7 new projects valued at over 22.61 billion baht, aiming for sales of 20.6 billion baht this year.

Mr. Sira Udon, Chief Operating Officer of Noble Development Public Company Limited or NOBLE, revealed that the company aims for a revenue of 14 billion baht for 2024, with a sales backlog of approximately 21 billion baht. It is expected that 8.8 billion baht will be recognized this year, with the remainder being gradually recognized over time.

Meanwhile, in 2024, the company plans to launch 7 new projects worth a total of over 22.61 billion baht, consisting of 3 low-rise projects valued at 4.08 billion baht and 4 high-rise projects valued at 18.53 billion baht. These projects will be spread across various locations in Bangkok to meet the continuously increasing demand for housing. In the first quarter of 2024, the company has already launched one new project, the Noble Norse Krungthep Kreetha, a single-house project valued at 1.48 billion baht, which has received very positive feedback from customers. With this project launch, the company initially expects to meet its sales target of 20.6 billion baht this year.

For the investment budget in 2024, the company has set it at 6-8 billion baht, which will be allocated for land purchases to develop future projects, construction investments, and investments in joint ventures (JVs) to diversify growth avenues. This comes as the overall real estate market is expected to remain sluggish this year due to economic conditions, as evidenced by the first quarter of 2024, where sales did not meet the set targets. Consequently, the company is adjusting its strategy to expand its market into other segments to mitigate risks from the ongoing economic volatility.

Additionally, to ensure stable and sustainable growth in the future, the company currently has projects in hand, including completed ready-to-move-in projects (Inventory), projects under construction, and newly launched projects located in high-potential areas, with a total value of 34.625 billion baht.