Villa Kunlaya Public Company Limited, or KUN, is elevating its investment by moving to trade on the Stock Exchange of Thailand (SET) starting September 11, 2024! This marks a leap towards sustainable growth, enhancing investor confidence with a business plan for the second half of the year, ready to recognize revenue from the Navara brand, and holding a solid backlog. The CEO has indicated a proactive strategy with a 5-year road map aiming for revenue to reach 1 billion baht, establishing "Navara" in the Rama 2 and Rangsit areas as a new flagship in prime locations to create added value.

Mrs. Prawirat Tevaakson, CEO of Villa Kunlaya Public Company Limited (KUN), a developer of horizontal real estate projects in suburban areas, announced that the Stock Exchange of Thailand (SET) has approved the transfer of KUN's securities to be traded on the SET starting September 11, 2024, in the real estate and construction sector.

This transfer to the SET reflects KUN's potential for business growth and continuous operational performance. Importantly, this move increases liquidity and stability for the company, reduces investment limitations, and attracts both domestic and international institutional investors to invest more in KUN shares.

“KUN is pleased to move to register on the Stock Exchange of Thailand (SET) on September 11, 2024, from its previous listing on the Market for Alternative Investment (mai) since December 17, 2019, in the real estate and construction sector. We believe that this transition to the SET will enhance our growth opportunities and increase our visibility, benefiting the company in terms of stock liquidity, stock price, credit with financial institutions, credibility in using financial instruments, and enhancing trust for future investments such as mergers and acquisitions (M&A) and joint ventures (JV), while also making the company more attractive to general investors, institutional investors, and funds both domestically and internationally,” she stated.

Over the past 5 years since KUN has been trading on the mai, the company has been committed to developing horizontal real estate projects according to its strategic plan to surround Bangkok in all four directions (north, south, east, west) within a 5-year timeframe, aiming to create a new residential city around the Bangkok area, aligning with the policies and vision set since the company's first listing on the mai to strengthen the brand's potential and become the leading developer of horizontal real estate in Bangkok and its vicinity.

After KUN's successful initial step into the mai, the company has utilized funds raised to further develop additional real estate projects. Despite facing challenges from the Covid-19 pandemic during that period, both revenue and profit have consistently grown. The company adapted its strategy to promote a lifestyle of 'enjoying suburban living,' increasing market share across various product segments by employing strategies such as market penetration with existing products, developing new products in existing markets, and diversifying into new markets. The organization has also adapted in various dimensions to maintain efficiency, growing from just 4 projects to 9 projects and successfully launching projects in all four directions around Bangkok as planned, expanding its product range from price levels of 2-5 million baht to 2-15 million baht, including the creation of a new brand under "Navara" to expand into the high-end housing market, reflecting the organization's growth alongside sustainable business development, as evidenced by sales increasing from 767 million baht in 2010 to 2.8 billion baht in 2019, and reaching 541 million baht in Q2/2024, with a continuous dividend policy in both cash and stock, totaling 576 million baht.

Mrs. Prawirat, CEO of KUN, also discussed the company's road map, stating that since 2013, the company has set long-term growth goals in a 5-year plan. From 2018 to 2022, the company aimed to be listed on the mai and targeted revenue of 1 billion baht, with regular dividend payments while developing projects in all four directions around Bangkok and building brand recognition, achieving success according to the plan. Therefore, the mission moving forward from 2023 to 2027 is to transition from the mai to trading on the SET while aiming for an average revenue growth of 1 billion baht per year over the next 5 years.

Overall, for the business outlook in 2024, the company expects revenue to exceed 800 million baht, representing a growth of 10-15% from the previous year. This is due to the gradual recognition of revenue from the Navara housing group in the second half of 2024. As of the end of June 2024, the company had already recognized approximately 300 million baht in revenue, with a backlog of about 240 million baht, which will be gradually recognized in the second half of the year, ensuring that this year's performance aligns with the planned targets.

“Currently, KUN has 7 projects for sale, divided into 5 projects in Bang Bua Thong, 1 project in Rama 2, and 1 project in Rangsit. Additionally, the company has 2 plots of land awaiting new project development, totaling approximately 65 rai in Bang Bua Thong District, Nonthaburi, consisting of 1 plot under development and 1 vacant plot. Due to the company's business model of acquiring large land parcels, the number of new project launches will not increase significantly, but the company will focus on launching existing projects as planned, valued at 14 billion baht.

Recently, the company is advancing new projects under "Navara" in both locations (Rama 2 and Rangsit), which are new flagship projects in prime locations and are expected to be a significant revenue driver for KUN in the future. The homes in this group, priced between 5-14 million baht, emphasize spaciousness (starting from 62 square wah) and are distinguished by their natural environment. Both projects have received positive responses from customers, with transfer activities meeting the set targets. For instance, the Navara Rama 2 project, consisting of 469 single-family homes valued at 3.7 billion baht, was launched earlier in 2024, with over 44 units already transferred, generating sales of 306 million baht. Meanwhile, the Navara Rangsit Klong 2 project, comprising 866 single-family homes valued at 7 billion baht, began sales earlier in 2024, with 12 units already transferred, amounting to sales of 83 million baht.