RML reports Q2/67 performance continues cost management efforts, aims to increase revenue

RML (Raimon Land Public Company Limited) has announced its financial results for the second quarter of 2567, presales amounted to 337* million THB, with main revenue recognized from the transfer of ownership of two projects: ‘The Estelle Phrom Phong’ at 4,900* million THB, representing approximately 99%* of the units ready for transfer, and ‘Tait Sathorn 12’ at 3,400* million THB, representing approximately 85%* of the units ready for transfer. Moving forward into Q3 of 2024, RML will focus on cost management and generating revenue from Private Sales of the ultra-luxury estates ‘THE 528 ESTATE’ and the sale of special units in the riverside condominium, ‘The River’.

Sorrapong Mamuang, Chief Financial Officer of RML, said, "The year 2024 presents significant challenges for the real estate industry, including reduced purchasing power, high household debt, and an economy that has not yet fully recovered. These factors are influencing customers' decisions regarding residential property purchases. In response, RML has revised its strategy to concentrate on cost control and effective asset management, aiming to generate cash flow to enhance liquidity and support the business. The primary goal is to utilize this cash flow for new projects and to reduce financial costs. The company continues to generate revenue through the transfer of ownership in key projects. In the third quarter, the company will focus on cost management and generating revenue from the sale of the new project 'THE 528 ESTATE,' as well as the sale of special units in 'The River' project and filling up the luxury Grade A+ office building 'OCC' with tenants. We are confident that these strategies will strengthen RML in the long term."

RML will continue to pursue the new strategies to drive the organization forward, fully prepared for any situation. Through efficient management, the company is committed to maintaining its leadership in the luxury and ultra-luxury real estate development in Thailand, while ensuring sustainable financial growth.

*Information as of June 30, 2024