RML reported a 148%* year-on-year increase in total revenue for the first quarter of 2025, driven by effective inventory clearance and cost optimization measures under the company's ongoing Transformation Roadmap. While the company has not yet achieved a full turnaround, the performance reflects a clear and positive trajectory toward recovery.
Mr. Sorrapong Mamuang, Chief Financial Officer of Raimon Land Public Company Limited (RML), said, "Despite ongoing macroeconomic uncertainties, particularly in the real estate industry, RML continues to execute a disciplined risk management approach while adapting swiftly to evolving business dynamics including rapid changes in technology, consumer behavior, and global market competition. Our key objective remains achieving a full business turnaround within 2025, with the 'OCC' project serving as a critical driver. At the same time, we are laying the foundation for long-term, sustainable growth by evolving our business model to be more agile and resilient to future opportunities."
As part of this transformation, RML is diversifying into businesses adjacent to its core strengths, aiming to create new revenue streams and reduce reliance on real estate alone. The company is focused on increasing the share of steady, recurring income while minimizing dependence on one-off revenue, and enhancing the productivity of existing assets to reduce carrying costs and drive consistent cash flow.
At the same time, the company remains committed to sustainable business practices and has plans to expand into service-related businesses. By leveraging its existing assets and core expertise, RML aims to create new long-term revenue streams that support stable growth and fully reinforce the company's turnaround objective.
RML has backlog valued at 131* million baht, alongside approximately 5,000 million baht in remaining inventory across key projects:
- 'The River': A riverside luxury condominium with only 6 units remaining, each sized between 501-711 sq.m., offered at a special price starting from 130,000 baht/sq.m.
- 'Tait Sathorn 12': A fully fitted, pet-friendly luxury unit in the heart of Sathorn (237 sq.m., 2 bedrooms), available at 295,000 baht/sq.m., with just 1 unit left.
- 'THE 528 ESTATE': An ultra-luxury residence on Sukhumvit 28, comprising 4 detached homes with 7 floors and 2,300-2,700 sq.m. of usable space. Prices start from 880 million baht per unit, designed for multi-generational living with amenities equivalent to those found in high-end hotels.
* Data as of March 31, 2025