In the first quarter, Sivarom Real Estate achieved remarkable results with a revenue of 20.3 billion Thai Baht. This success was driven by the launch of six new projects with a total value of 50 billion Thai Baht, expanding into emerging areas such as Phutthamonthon Bangkae-Sathorn, Pracha Uthit, and Bangkruai-Sai Noi. The company is confident in its future growth prospects and aims to achieve a revenue growth of 35% to 50%.
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Mohamed, Chairman and Chief Financial Officer of Sivarom Real Estate Plc. (SVR), revealed that the company's total sales revenue in the first quarter reached 20.322 billion Thai Baht. This achievement was attributed to the successful launch of two new projects: Sivarom Park (Wongwaen-Pracha Uthit 83) and Sivarom Village (Wongwaen-Chaiyapruek). Additionally, the company confirmed the sales status of five existing projects located in Nikhom Pattana-Rayong, Sukhumvit-Bangpoo, Assumption-Sriracha, and Sukhumvit-Bangpoo 58.
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Despite a slight decrease in net profit compared to the same period last year, which reached 80,000 Thai Baht, it was mainly due to reduced income as consumers postponed home purchases, awaiting clarity on government real estate measures. Moreover, the increase in construction material prices and financing costs from financial institutions also impacted the company's performance in the first quarter.
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However, Sivarom Real Estate remains confident in its future development. The company has commenced six new projects with a total value exceeding 50 billion Thai Baht, expanding into new areas such as Phutthamonthon, Bangkae-Sathorn, Pracha Uthit, and Bang Kruai-Sai Noi to meet diverse housing demands.
In the second quarter, the company will gradually launch the remaining new projects, including SIVAROM HIDE (BANGKAE-SATHORN), Sivarom Hyde (Phutthamonthon Sai 2), and Grand Sivarom 3 (Sukhumvit-Bangpoo). The introduction of these projects will further support the company's revenue growth and generate more income.
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Meanwhile, Sivarom Real Estate also benefits from government economic stimulus measures, including reducing property transfer fees from 2% to 0.01% and lowering mortgage registration fees. These measures will stimulate market activity and create more opportunities for the company's future development.
