Singha Estate reports first-half 2025 performance of 6,865 million baht, with net profit growing 23% to 30 million baht compared to the same period last year, reaffirming consistent operations driven by stability from recurring revenue streams.

Bangkok (August 14, 2025) - Singha Estate Public Company Limited (SET:S), an international real estate developer and investment company with a portfolio spanning across 4 businesses: residential, hospitality, commercial, and industrial estate, has announced its operational results for the second quarter of 2025. The company reported core operating revenue of 3,500 million baht, resulting in first-half revenue of 6,865 million baht, divided between 1,197 million baht from real estate sales and 5,668 million baht from rental and service income.

Mr. Chairath Sivapornpan, Chief Executive Officer of Singha Estate Public Company Limited (SET: S), commented, "Despite challenging market conditions, our foundation of high-quality project development and continuous customer confidence building have enabled us to successfully close sales for SIRANINN Residences Pattanakarn, a Super Luxury single-house project priced between 80-195 million baht with 28 units, as well as the SENTRE Pattanakarn Multi-Use Home Office project with starting prices at 23.9 million baht for 4 units. The combined value of these two projects exceeds 3,000 million baht. By the end of the year, we expect to complete sales of the final plot of SANTIBURI The Residences and The ESSE Sukhumvit 36 Condominium project according to our targets."

Currently, Singha Estate has residential real estate projects ready for conveyance in various high-potential locations with a combined value exceeding 25,000 million baht, which will be the main driver of sales for 2025. In the third quarter, the company plans to officially launch one new project: S'RIN Prannok-Kanchana, extending the success of the S'RIN brand with 81 units ranging from 45-80 million baht, with a project value of over 4,200 million baht. The development is located on New Prannok Road in Bangkok's western zone, an area with significant future growth potential.

Beyond residential real estate sales, the industrial estate business continues to attract interest from investors across various industries. During the second quarter, the company successfully concluded a 75-rai land sale agreement with Dali Foods Group, a major Chinese food and beverage manufacturer and distributor with annual revenue exceeding 23,000 million yuan. This represents another success for the S-Angthong Industrial Estate which is an industrial estate crystallized under the eco-industrial concept for agriculture, food, and related businesses. Additionally, the company received dividend payments of over 156 million baht from power plants co-invested with partners, further strengthening its recurring income business.

Primarily driven by the hotel and office building business segments, rental and service income continue to be a crucial factor in reinforcing the company's financial stability. In the first half of 2025, revenue from these two business groups amounted to 5,615 million baht, accounting for a significant 82% of total revenue.

For the hotel business in the second quarter of 2025, hotels in Thailand continued to show consistent growth, reporting revenue per available room of 4,950 baht, a 25% increase compared to the same period last year. This growth was primarily due to the renovation of rooms at SAii Laguna Phuket Hotel, making them more modern and continuously attracting new customer segments. In Europe, the Mount Royal Edinburgh by the Unlimited Collection, which recently completed its rebranding, has shown satisfactory results since the first tourism season, with revenue per available room in the second quarter of 2025 growing by 10% compared to the same period last year.

Singha Estate remains committed to uphold service standards across all office buildings and adjusting lease agreements for flexibility, maintaining occupancy rates at three main buildings— SINGHA COMPLEX, SUN TOWER, and S METRO—at 80%. Meanwhile, the occupancy rate of the S-OASIS building continues to gradually increase in line with proactive marketing strategies and the progressive move-in of new tenants, with year-end 2025 occupancy expected to reach the target of 50%.

"For the outlook in the second half of 2025, Singha Estate remains confident in its strong revenue base, with the majority coming from recurring income from hotels, office buildings, and power plants. Demand in the luxury residential segment remains of high quality, complemented by financial strength from the full issuance of debentures in the first half of the year and the strong credit facility support from our banking partners," Mr. Chairath concluded.