PROUD is ready to move forward after transferring its securities to the SET, reaffirming its strength as an ultra-luxury real estate developer focused on CBD locations and Hua Hin. The company reports strong sales momentum for all ongoing projects, with a loan rejection rate of only 26%. It is preparing to celebrate the completion of the Nue Cross Khu Khot Station project while advancing its marketing strategy targeting high-end Thai and international customers, alongside developing its business in line with ESG principles to embrace global investment trends and aim for sustainability. In Q2 2024, the company recorded total revenue of 713 million baht and a net profit of 12 million baht, marking a 33% growth. For the first half of 2024, total revenue reached 1,784 million baht with a net profit of 89 million baht.

Mr. Pasu Liptapanlop, Executive Director of Proud Real Estate Public Company Limited (PROUD), revealed that the company continues to grow in Q2 2024, supported by increasing housing demand from foreign customers. The ongoing projects have received positive responses from both Thai and foreign real demand customers from Europe and Asia, including the VEHHA Hua Hin project valued at 2,289 million baht, with 57% sold amounting to 1,306 million baht; the ROMM Convent project valued at 4,150 million baht, with 58% sold amounting to 2,401 million baht; the VI Ari project valued at 491 million baht, with 34% sold amounting to 164 million baht; and the NUE District R9 project, which has achieved 96% sales amounting to 6,350 million baht.

Additionally, the Nue Cross Khu Khot Station project, a low-rise condominium in a prime location on Lam Luk Ka Road, valued at 2,115 million baht, has already transferred over 80% of ownership, which is ahead of the planned schedule. This has enabled the company to repay loans from financial institutions totaling 1,340 million baht ahead of schedule, and it is expected to gradually deliver and complete the project within 2024.

“In a market where the overall real estate sector is slowing down, and buyers' purchasing power has decreased with loan rejection rates as high as 60-70%, our company has still managed to achieve good sales levels, with a loan rejection rate of only 26%. Demand from foreign customers seeking luxury residences has increased, particularly from groups in Russia, Europe, America, China, Taiwan, and Myanmar, resulting in growth in sales and ownership transfers from foreign customers,” he added.

Nevertheless, the company is ready to proceed with its plans after moving its securities to be listed on the Stock Exchange of Thailand (SET). It is preparing to adjust its marketing strategy to align with the current real estate market situation to further penetrate the high-end market among both Thai and foreign customers, while also developing the organization according to ESG principles aimed at sustainability. The goal is to reduce carbon emissions and greenhouse gas emissions, ensuring social and environmental responsibility, with the aim of becoming one of the stocks in the Thai ESG fund, providing a new option for investors alongside other retirement savings funds. Currently, investors in the Thai ESG fund enjoy tax benefits, allowing them to deduct up to 30% of their annual income, not exceeding 300,000 baht, thereby enhancing investor confidence in the business's potential for continuous growth.

For the first half of 2024, the company reported total revenue of 1,784 million baht and a net profit of 89 million baht.