Raimon Land Plc’s 9-months presales reach 1.60 billion baht

Editorial Staff

Raimon Land Plc’s 9-months presales reach 1.60 billion baht

Raimon Land Plc (RML), a leading luxury and ultra-luxury real estate developer, announced presales results for the first 9 months of 2023 at 1.60 billion baht, a 11% increase from 1.44 billion baht from the same period last year.

Mr.Korn Narongdej, chief executive officer of Raimon Land Plc (RML), a leading luxury and ultra-luxury real estate developer, announced presales results for the first 9 months of 2023 at 1.60 billion baht, a 11% increase from 1.44 billion baht in sales from the same period last year.

This was a result of great response from the company’s ready-to-move-in condominium projects. As of September 30, 2023, The Estelle Phrom Phong, an ultra-luxury condominium, had ownership transfer accounted for 4.30 billion baht or approximately 92% of units that have been sold, while Tait Sathorn 12, a luxury condominium located right in the heart of Sathorn, had ownership transfer accounted for 1.30 billion baht or approximately 82% of of units that have been sold within 2 months.

Overall sales during the first 9 months of the year (January - September 2023) continued to be doing well. The projects that are currently being sold have received very good feedback from customers both in terms of sales and ownership transfer.
As of September 30, 2023, RML has a total backlog of 3.08 billion baht. And the company will gradually recognize income from ownership transfer of the Estelle Phrom Phongand Tait Sathorn 12 which are expected to reach the target of 5 billion baht.

The Estelle Phrom Phong

According to the business plan from the end of this year until the beginning of 2024, RML plans to pre-launch a new low-rise project located in the Sukhumvit area exclusively for customers with highest purchases from RML database. The starting price for each unit is about 300 million baht.

“For the overall look of real estate market in 2024, I think it is a year that developers continue to face many challenges from increasing household debts and increasing interest rate to inflation rate that is expected to be around 2.6%.”

However, there are a few positive factors including how the economy tends to grow by 4.4% which is more than expected at 3.8% due to the recovery of the tourism sector and the export sector, not to mention positive momentum from government policy. It is important for real estate developers to be able to adapt quickly and keep up with the situation.