RML records solid start into 2023 with the growth of 63% in Q1 sales and transfers of ‘The Estelle Phrom Phong’ on the rise.
RML (Raimon Land Public Company Limited), a leading luxury and ultra-luxury real estate developer, reported a strong sales performance in the first quarter of 2023. Presales reached a total of 518 million Baht*, a 63%* increase compared to the same quarter of the previous year of 318 million Baht*, driven by the ownership transfer of ‘The Estelle Phrom Phong’, an ultra-luxury, ready to move in condominium located near the BTS Phrom Phong and The Em District developed under a joint venture between RML and Tokyo Tatemono Company Limited, a leading real estate developer in Japan, which accounted for 3,000 million Baht*, or approximately 80%* of units transferred, and expected to be sold out within this year.
Mr. Korn Narongdej, Chief Executive Officer of RML (Raimon Land Public Company Limited), revealed that “In the first quarter of 2023, we achieved a strong performance as we have gradually realized revenue from ‘The Estelle Phrom Phong’, which, by the end of Q1, had a better-than-expected transfer rate and swept sales of over 85%* of units. while ‘Tait Sathorn 12’ has been sold by approximately 90%* Additionally, the company has earned revenue from leasing space in the Grade-A luxury office building ‘OCC (One City Centre)’, one of the most talked of the town about projects in Bangkok, which now achieved office and retail space occupancy rate as well as customer interest of approximately 70%*, testifying strong customer trust and confidence in RML brand. Moreover, we have managed to improve our cost efficiency from the asset-light strategy, by collaborating with landlord partners to jointly develop projects on their land plots, which helps reduce land and financial costs while increasing our financial stability. Looking forward to the second quarter of the year, RML is committed to moving forward with our business plan to strengthen our financial fundamentals and become no. 1 leader in luxury and ultra-luxury real estate development.”