Noble

Editorial team

NOBLE planned to launch 10 new projects worth 23 billion baht

Noble Development Plc is making a proactive move in 2023 with the plan to launch 10 new projects worth approximately 23.30 billion baht.

Mr. Thongchai Busrapan, first vice chairman and co-chief executive officer of Noble Development Public Company Limited (NOBLE), a leading residential developer in prime locations of greater Bangkok, revealed that the company’s operational directions for 2023 is expected to grow further from last year.

Mr. Thongchai Busrapan

In 2022, the company was successful from the launch of 11 new projects with a project value of 31.55 billion baht. The pre-sale reached at 17.40 billion baht, supporting the backlog in 2022 to reach more than 19 billion baht, which is record-high pre-sale and backlog.

As for the year 2023, the company plans to continually launch new projects to support residential demand that is growing in line with the economic recovery.

The country’s reopening has also resulted in the rising demand for second homes of expats. For this year, the company plans to launch a total of 10 new projects with a project value of 23.30 billion, comprising 9 housing projects and low rise condominium projects with project value of 13.40 billion baht and 1 high-rise condominium project with a project value of 9.9 billion baht.

Noble BE19

Most of the projects are spread locations for wider coverage in Bangkok’s area such as western and eastern of Bangkok etc., including inner city such as Witthayu Road. At present, the company already has land areas to support the development of these projects. In addition, the company has launched 3 more projects focusing on the Ultra Luxury Segment, namely Noble Aqua

Noble Krungthep Kreetha

“The COVID-19 pandemic has resulted in the changing home-buying behavior of Chinese consumers in Thailand. They now prefer to buy inventory projects as they can see the real projects, actual view, and also inspect the projects through both online and offline. There is also a need for larger rooms to accommodate their own family living, as opposed to previously purchasing for investment purpose.” said Mr. Thongchai.

Nue Core KhuKhot Station

For the overall of the Thai economy in 2023, the company views that the Thai economy is likely to recover continuously due to several positive factors including the ease of Covid-19 preventive measures and the country’s reopening to welcome foreigner tourists, which will result in the recovery of tourism sector, more employment, and an increase purchasing power of local consumers. Also, the recent official announcement of the Chinese government to unlock and open up the country will be another new positive factor contributing to the Thai tourism and the economy from the influx of Chinese tourists to Thailand.

The company believes that will significant positively affect the direction of operating in 2023 which will see the total revenue at 15 billion baht.