Areeya Property PLC.
Message from the chairman

The year 2017 marked another significant milestone in the company’s journey towards sustainable growth with the application of a long-term plan on how to improve internal efficiency and enhance business capacity. In 2018, the company has set the key approach to sustainable business through defining clear characteristics of Areeya’s home that can respond to the sustainable growth policy in four main aspects, which include 1) Aesthetic Design & Premium Quality that focuses on a unique design, high quality, the company’s identity, and customer inspiration, 2) Sustainable Happiness to which the company has given priority for more than 5 years, 3) Innovative Living that emphasizes adaptation to changing innovations, and 4) Best in Class After-Sales Services that places importance on providing excellent sale and after sale services in order to promote customers’ better living conditions in the long run.

Due to the company’s development in four key areas, in 2017 the company’s sales increased more than 20% and the revenue recognition increased by 7%. There were also condominium projects that were almost sold out after launching. The company reported net profit of 98 million baht, a decrease of 165 million baht from the previous year, which resulted from the change in core business practices and the number of condominium sales that will be translated into revenue in the future. Currently, the company’s condominium backlog of about 2,305 million baht will be ready to transfer at the end of 2018. Meanwhile, the company’s low-rise projects continue to report the increase in revenue recognition and business expansion.

Similar to a 2014 situation where the company had to develop its readiness to increase the revenue from 2,000 million baht to 4,000 million baht, in 2017 the company needed to carry out a change in order to build a solid foundation in a continuous and timely manner, which will consequently contribute to the growth of the company. At the end of 2017, the company had a total of 62 projects, which were composed of 50 low-rise projects worth a total of 25,859 million baht and 10 high-rise or condominium projects worth a total of 16,986 million baht. Moreover, the company prepared to launch 14 new projects worth approximately 20,260 million baht in 2018.

The company’s current and future achievements, which are all aimed at the continuous and steady growth of all stakeholders, cannot be possibly obtained without firm support from every party involved. On behalf of Areeya Property Public Company Limited, we would like to thank all of our shareholders, customers, financial supporters, business partners, and staff members for their steadfast support throughout the year, which tremendously contributes to the company’s business growth. The company is committed to taking into account the maximum benefit of all stakeholders, continuously complying with the principles of good corporate governance, and adhering to the four main business approaches in order to meet the diverse needs and changing demands of our customers. We hope to receive generous support from all of you in the coming years and beyond.

Mr. Wisit Laohapoonrungsee
Chairman and Chief Executive Officer

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