Revenue from sales and services totaled 3,365 million Baht in Q1/2025 while net profit amounted to 70 million Baht, reaffirming the company’s strategy to achieve business stability through strong, continuous stream of recurring income from hospitality and commercial businesses.

Bangkok (May 15, 2025) – Singha Estate Public Company Limited (SET: S), announced that its Q1/2025 revenue totaled 3,365 million Baht, contributed 87% by recurring income from hospitality and commercial businesses and 13% by non-recurring income from residential business. The results underscored the company’s strategic focus on maintaining solid performance and healthy cash flow, especially in the volatile economic environment of today’s time.

Thitima Rungkwansiriroj, Chief Executive Officer of Singha Estate Public Company Limited (SET: S), commented, “Amid direct and indirect economic challenges, we continue to move forward confidently under our carefully planned strategy with resilience in mind. We consistently evaluate situations and always stay vigilant against uncertainties, ready to adjust our plans instantaneously to maintain a strong foothold to drive sustainable, long-term growth.

While Q1/2025 residential property transfers suggest a slowdown compared to the same quarter last year, when transfers of THE EXTRO Phayathai-Rangnam started, resulting in a high base for year-on-year comparison, the company continued to record transfers to backlogged customers as planned. In luxury segment, it witnessed improved market response to SHAWN Wongwaen–Chatuchot and SHAWN Panya Indra. Moreover, the market remains promising for projects that precisely address consumers’ needs both from living and investment points of view, as evident from enthusiastic response to One River Rama 3 condominium. Jointly invested by Singha Estate, this 3-billion Bath development has already exceeded 86% in pre-sales following its launch in Q1 this year, ready to begin construction with the handovers planned to start in 2027.

The company’s hospitality business showed brilliant performance following the renovation of its key properties. Notably, SAii Laguna Phuket, which completed its renovation in late 2024, achieved a 31% year-on-year increase in average daily rate (ADR) to 12,950 Baht—an all-time high that sent its revenue per available room (RevPAR) up 23% year on year.

As one of Singha Estate’s key sources of income, commercial business continued to drive revenue and profit growth from three major office buildings—Singha Complex, Sun Towers, and S-METRO. All of them maintained high occupancy rates of nearly 80%. At the same time, with the occupancy rate of S-OASIS soaring to 50% in March 2025, this new office building is set to give the commercial business a significant boost in revenue and profit.”

“Beyond financial performance, Singha Estate highly prioritizes its ‘Craft to Trust’ philosophy, using this approach in every stage of project development to ensure meticulous attention to detail and compliance with internationally recognized standards. Our customers value safety and quality, which have become the hallmarks of Singha Estate that earn their continued trust and loyalty in the brand,” Thitima added.