Real Estate Press Releases Thursday January 23, 2020 09:52
Bangkok--23 Jan--Noble Development

Noble Development Public Company Limited announced the success of 2019 with the highest ever performance in the Company's history amounting more than THB 15 billion approximately from the full-year revenue. Looking forward to 2020, Noble has planned to continue growing presence in all market segments to expand customer base and investment, both in Thailand and overseas with the launches of seven projects worth more than THB 25 billion, also to achieve the pre-sale target of over THB 12 billion for this year.

Mr. Thongchai Busrapan, Chairman and Co-CEO of Noble Development Public Company Limited, unveiled 2020 business plan to move Noble forward with the strong management team under the new groups of shareholders, in purpose of successively increasing the company's performance both in local and overseas markets.

Mr. Thongchai said "the Company had accomplished a great performance in 2019 with the full-year revenue of more than THB 15 billion. It was the first time the Company ever reached over THB 10 billion revenue, which made the Company emerge as one of the top 10 leaders in the real estate market.

The 2019 impressive accomplishment is thrived from our business goal aiming to drive the efficiency by increasing the Return on Equity for the shareholders, according to our business policy to significantly increase the revenue for the Company's investment.

"In 2020, the Company will mark the major milestone in advancing last year success by launching seven projects and campaigns with a total value of more than THB 25 billion throughout the year, covering affordable to high-end condominium projects to embrace all market segments. In addition, the Company also generated record backlog in excess of THB 17 billion, end of last year, which will be realized within the next few years. This will continue to strengthen our visibility of revenue and secure our strong financial position. Also this year, the Company has joined hands with the two strategic partners to develop new condominium projects on the 2 prime locations."

"To kick start 2020, the 3 condominium projects will be launched in the first quarter of this year which are: NOBLE STATE 39, located in Soi Sukhumvit 39; NOBLE ABOVE WIRELESS-RUAMRUDEE, a newly completed & ready to move in condo situated in flourishing location of Wireless-Ruamrudee area near BTS Phloen Chit; and the new 'NUE' will be launched to continue the success of NUE in Ngamwongwan". Also, the Company has planned to continuously launch new projects throughout the year on the selected prime locations of Bangkok by launching on the high potential location of FAI CHAI-WANG LANG near Siriraj Hospital, a premium location in the heart of THONGLOR, a joint venture project with U City Public Company Limited, an affiliate of BTS Group Holdings Public Company Limited to develop a new project, located next to MRT RATCHADA AND MRT LAT PHRAO. The Company will also co-develop with Hongkong Land, to launch a super luxury project on three-rai land plot on WITTHAYU Road", Mr. Thongchai said.

For overseas markets, Mr. Frank Fung Kuen Leung, Vice Chairman and Co-CEO of Noble Development Public Company Limited, said "In 2020, the Company will leverage on the business strategy with the overseas sales target set at THB 7 billion, a doubling amount of THB 3.5 billion in 2019 overseas sales or 50 percent of total sales achieved in 2019.

"Currently, the Company has accounted up to 18 percent of the overseas market share or roughly every 1 in 5 units for the sales of Bangkok real estate between the price range of 80,000 - 250,000 baht/sq.m., which is the market that the Company has operated in. This high performance was driven from our network of around 470 distributors across our main overseas markets in China, Hongkong, Singapore and Taiwan. China, as our major market, we have been striving to enter the market by approaching over 21 provinces and 4 autonomous regions.

"Our plan also focuses on investing in highly promising property assets from other developers both in Thailand and foreign countries which will enable the Company to recognize the total revenue promptly and to expand our business internationally in the years to come," Mr. Frank added.

Mr. Thongchai concluded, "With 2020 business direction and the plan to launch at least seven new projects worth more than THB 25 billion, we are highly confident to meet the yearly revenue aspirations and achieve the sales target, in order to have high dividend payout which will certainly strengthen investors' confidence, during the economic fluctuations of today's world".

About Noble Development Public Company Limited

Established in 1991, Noble Development has been very successful throughout the past three decades. The company became a listed company on the Stock Exchange of Thailand in 1997 with ticker symbol "NOBLE". The company develops various residential projects, ranging from single house to townhouse, as well as low-rise and high-rise condominiums. It is committed to offering innovative concepts to create living experience that is beyond expectation. All Noble projects reflect Noble's commitment, creativity and the its passion to address modern consumers' changing lifestyle and living experience.

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