Mr. Korn Narongdej, Chairman of the Executive Committee of Raimon Land Public Company Limited or RML, said, "At the Annual General Meeting held on April 17, 2025, shareholders voted with more than 99% approval to allow the company flexibility in managing its stake in the OCC project. As a Grade A+ luxury office building in a prime Phloen Chit location, OCC is a strategic asset that plays a vital role in RML's business operations this year. Shareholders also approved the Transformation Roadmap, which we are fully committed to implementing. Our core objective is not only to have the CB sign lifted within 2025 but also to strengthen the organization in all key aspects operational efficiency, financial structure, and long-term growth potential. This strategic roadmap will serve as the foundation for RML's successful turnaround this year."
Transformation Roadmap: 2 Core Strategic Pillars
- Strategic Asset Portfolio Management
RML is focused on unlocking value from its developed assets, particularly the OCC office building, currently boasting an occupancy rate approaching 80%. The company also continues to proactively manage its high-potential unsold inventory worth approximately THB 5 billion. Key remaining assets include:
- 'The River' -A luxury riverside condominium on the Chao Phraya River, offering ultra-spacious units ranging from 501-711 sq.m. Only 6 units remain, priced from THB 130,000/sq.m.
- 'Tait Sathorn 12' - A pet-friendly, ready-to-move-in luxury condominium in the heart of Sathorn. Only 1 unit remains, a 237 sq.m. fully fitted 2-bedroom unit priced at THB 295,000/sq.m.
- 'THE 528 ESTATE' - An ultra-luxury mansion project in Sukhumvit 28, starting at THB 880 million per unit. Designed to accommodate multi-generational living, each 7-story home spans 2,300-2,700 sq.m. with amenities on par with five-star hotels.
- Enhancing Financial Flexibility and Capital Structure
The company is currently in the process of optimizing its capital structure and cost management strategies to increase financial resilience and support sustainable growth in the medium to long term.
Mr. Korn concluded "2025 is a pivotal year for RML as we move toward a robust recovery following a period of significant challenges. We are well-positioned in both strategy and capital structure and are committed to executing our plans with discipline to restore investor confidence and drive sustainable growth. Our sales target of THB 7.5 billion reflects our commitment to this transformation comprising THB 2.4 billion from condominium sales and THB 5.1 billion from low-rise projects."
Source: Raimon Land
