IR Press Releases

Noble Development Public Company Limited (“the Company”) announced 2Q’20 performance with its total revenue of THB 1,855 million and a net profit of THB 303 million, growing 125% and 84% respectively compared to the same period last year, derived from the selling of ready-to-move and new residential projects, resulting net profit of 1H’20 stood at THB 714 million. Hence, the Company also announced interim dividend payment of THB 1.10 per share, equivalent to approximately 10% of the dividend yield.

Mr. Thongchai Busrapan, Chairman and Co-CEO of Noble Development Public Company Limited, revealed that “the growth in the Company’s total revenue and net profit of 2Q’20 was driven by the ownership transfers from completed condominium and horizontal projects of THB 1,752 million, including Noble Recole Sukhumvit 19, Noble BE33, Noble Ploenchit, Noble Revolve Ratchada, Noble Revolve Ratchada 2, Noble Above Wireless-Ruamrudee, Noble Gable Kanso Watcharapol, Noble Revo Silom, and Noble Revent.

“In addition, the tremendous success of the campaign “RESET PRICE, RESUME LIFE” via Online Booking, with special offers for ready-to-move condominiums locating along mass transit routes, has generated more than THB 1,600 million. Also, the Company has continued to launch new condominium projects under the NUE brand at least 3 projects, worth more than THB 5,000 million, to approach the new market segment and expand the brand’s success. These projects are located on Bangkok’s prime locations near mass transit lines and have received a great deal of attention from customers.

“The first NUE condominium project launched earlier this year was NUE Noble Ngamwongwan, generating more than THB 1,000 million, or approximately 55% of the total project value at THB 1,800 million, from domestic customers via exclusive booking at Sales Gallery and online booking. The project also strengthened our confidence in serving Thai customers, even in the post-pandemic doldrums. Second, we have introduced NUE Noble Ratchada – Lat Phrao, worth THB 2,000 million, on a prime location next to both MRT Blue Line at Lat Phrao Station and the future Yellow Line at Ratchada Station. It is the first joint venture project with U City Public Company Limited, an affiliate of BTS Group Holdings Public Company Limited, entering 50: 50 partnership agreement to develop this residential project. Within the first two weeks of launching, the project has also received good responses and has generated impressive revenue of more than THB 470 million already. Therefore, the Company had officially announced the upcoming launch of NUE Noble Fai Chai – Wang Lang, worth THB 1,200 million, in the heart of Fai Chai intersection, only 80 meters from MRT Fai Chai Station, at the press conference in early August.”

For overseas market, Mr. Frank Fung Kuen Leung, Vice Chairman and Co-CEO, said “the Company achieved overseas sale of THB 4,400 million within the 18-month period since early 2019. For this year, the Company achieved revenue of THB 900 million, or equivalent to around 34% of the overseas market share during the 1H’20. Despite the pandemic’s economic impact, we can maintain the status as the key real estate leader in overseas market with successive sales from Asian customers. We can also see positive signs of recovery after the Covid-19 situation subsides in China, which is among the countries with the highest economic recovery. Besides, Hong Kong has shown interest in buying properties in Thailand for investment purposes and as a second home. Apart from this, Singapore and Taiwan also have great potential as the number of our customer base keeps growing in these two countries.”

Mr. Thongchai added that “With the operating result of 2Q’20 and the net profit in the 1H’20 that can achieve the target, the Company’s Board of Directors No. 6/2020 on 13 August 2020 has approved an interim dividend payment of THB 1.10 per share with Record Date on 28 August 2020. The date of interim dividend payment will be scheduled within September.

“The approval of the interim dividend payment reflects our strength with strong management team under the new groups of shareholders announced since early 2020. We are confident to achieve full-year revenue of more than THB 10,000 million as we currently reach approximately THB 4,000 million from newly introduced projects and ready-to-move projects. Also, the Company has a total backlog of more than THB 16,000 million, which will be realized as revenue from the second half of this year through to the next 3 years. Speaking of the online strategy, the Company is now taking a bold step forward on building a strong online presence to adapt to the changing consumer behaviours and respond to the new normal lifestyles” Mr. Thongchai concluded.