Noble Development Corporation (Noble) aims for total revenue in 2024 to reach 14,000 million baht, targets sales of 18,000 million baht after manual flooding accumulates to 19,700 million baht, and plans to launch 7 new projects worth 14,310 million baht, moving to attack the market. Countries – Purchase of land in Rama 9, Prachachoen, Bangna-Trad District, and separation from BU “Serve Solution Company” to expand integrated business We expect an interim dividend of 0.20 baht per share, in preparation for XD on January 29, 2024.
On January 18, 2024, Mr. Thongchai Busaravan, Vice Chairman and Co-CEO of Noble Development Public Company Limited or Noble, revealed that the 2023 operating results achieved sales (pre-sales) of 14,900 million baht, divided into finished products ready for transportation (inventory). 6,600 million baht, newly launched products and under construction project worth 8,300 million baht
By launching 7 new projects with a total value of 18,900 million baht, able to generate sales continuously. The highlight of the products is quality It is located in a location with high potential even though the economic situation is going through an unfavorable period including interest rates which are on an upward trend. But the company is still achieving satisfactory sales.
In addition, there are sales waiting to be transferred (Backlog) at the end of 2023, totaling 19,700 million baht, to be gradually recognized over 3 years (2024-2026) by the segment that is still achieving good sales. It is a low-rise luxury residential project and urban residential complex.
Mr. Thongchai said in terms of sales to foreign customers, there was 5,700 million baht, the highest growth in history (all-time high), projects that received very good response, luxury condominiums on Thonglor Road, Sukhumvit Road, Wireless Road, such as Noble Forum Thonglor, Noble State 39 and Embassy Wireless, a joint venture with Hong Kong Land Group, there are already 2,200 million baht in foreign sales.
At the same time, the company has expanded foreign customers to new markets such as Myanmar, Taiwan, Singapore, Hong Kong, etc. Forecasts for 2024 estimate that more Chinese customers will return after the Chinese economy returns to improvement. This will be a factor that supports the return of more sales from the company's foreign customers.
The Company's Board of Directors recently decided at its meeting held on January 16, 2024 to approve the distribution of an interim dividend from the operating results for the three-month period of the third quarter of 2023 in the amount of 0.20 baht per share, representing a dividend payout ratio of 51.2%. The non-receipt of dividend rights (XD) is scheduled for January 29, 2024 and the dividend will be paid on February 15, 2024.
Open investment plan 2024
The investment plan for 2024 includes the purchase of 3 additional plots of land consisting of:
- Land in the Rama 9 area, a high-rise building project. Its value is approximately ten billion baht
- Land in Prachachoen low-rise residential development area
- Land in Bangna Trad area is a joint venture with BTS Group and Sahapat to develop individual houses.
“General trends in the real estate market in 2024, the company believes it will be a better year. With the economic situation recovering coupled with the government's economic stimulus policy, interest rates are stable and tend to decline. It makes investors dare to spend and invest more.
The current state of the missing market is the investor pool, while the real demand pool still exists. In 2024, the total revenue target is 14,000 million baht. The sales target (pre-sale) is 18,000 million baht. The plan is to launch 7 new projects with a total value of 14,310 million baht
Divided into horizontal townhouses with 5 low-rise residential projects worth a total of 6,710 million baht and 2 high-rise condominium projects worth 7,600 million baht spread across Bangkok, recently, a stock worth 34,400 million baht is located at a potential location. We believe we will be able to deliver ever-increasing operating results as well.
Including this year, 4 new condominium projects have been completed: 1. New Noble Project Ratchada-Lat Phrao, 2. Noble Forum Thonglor Project, 3. New Connext Condo Don Mueang and 4. New Core Co. All four Kout Station projects have an average gross turnover of 70%.”
Mr. Thongchai said the company continues to expand its business to be more integrated. By adding business lines within Service Solution Company Limited, legal entity management business, freight forwarding service business, furniture supply service business, etc.
In addition, there are ongoing businesses that generate recurring income, such as businesses that provide fiber optic cable (fiber optic cable) services in residential projects. Electric Vehicle Charging Station Service Business (EV Charger), Solar Cell Installation Service Business (Solar Cell), etc.
It is also looking for new business, and this will be done in cooperation with partners who have direct experience, such as self-storage service companies, and the aforementioned expansion plan is considered an extension of real estate development. To be fully integrated while creating additional value for the company in the future.
Read the original news on: Noble creates real estate games, launches 7 new projects worth 14 billion and distributes dividends of 0.20 baht
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