Mr. Bibit Bijaisoradat
Chairman of the Board of Directors
In 2025 (B.E. 2568), the Thai economy expanded by 2.4%, slowing from the 2.9% growth recorded in 2024. The slowdown was mainly attributable to weaker private consumption and government expenditure. Nevertheless, the economy continued to receive significant support from the strong expansion of exports, together with the recovery of private investment and the acceleration of public investment. As a result, economic growth in 2025 exceeded earlier expectations, particularly due to the notable increase in private investment during the fourth quarter, according to the Office of the National Economic and Social Development Council.
Despite these developments, the real estate sector continued to face challenges from the overall economic slowdown. High household debt levels and stricter mortgage approval processes led to a decline in property transfers. Although the government introduced several supportive measures, including reductions in transfer and mortgage registration fees as well as the relaxation of loan-to-value (LTV) requirements, these measures have not yet been sufficient to fully stimulate the market, although underlying housing demand remains.
According to the Real Estate Information Center, the overall number of residential property transfers in Bangkok and its vicinity in 2025 decreased by 13.9% compared with the previous year, while the total transfer value declined by 15.8%, reflecting a decrease in the average transfer price per unit. Transfers across all housing categories declined, with the number of units decreasing within the range of 5.7% to 17.6%, while the total value of transfers declined between 5.3% and 22.2%. The Real Estate Company’s property transfer performance moved in line with the overall market trend. In addition, bank lending declined by 7.8% from 2024, which was consistent with a higher rate of purchase cancellations due to mortgage application rejections.
For the operating results of 2025, Sammakorn Public Company Limited and its subsidiaries reported total revenue of Baht 1,249 million, representing a decrease of 1.33% from the previous year. The Company recorded a net loss of Baht 19.46 million, resulting in a loss per share of Baht 0.03. This was primarily attributable to the slowdown in the real estate market and the incomplete recovery of the domestic economy, which affected the Company’s ability to achieve its revenue targets. The Company’s revenue structure remained primarily driven by real estate development, accounting for 80.01% of total revenue, while 12.67% was derived from rental and service businesses.
During the year, the Company launched two new residential projects: Providence Lane Kaset–Nawamin in July 2025 and Providence Lane Lasalle in December 2025. Meanwhile, the rental and service business continued to show a positive growth trend, and the is continuously expanding & developing new rental spaces.
Throughout the year, the Company continued to emphasize clear strategic direction by aligning its vision, mission, and business strategies with prevailing economic conditions and industry trends. The Board of Directors closely monitored and supervised the Company’s operations to ensure that performance remained aligned with the established targets. In addition, the charters of various Board committees were reviewed and updated to ensure their continued relevance and compliance with evolving laws, regulations, and business environments.
The Company also places strong emphasis on sustainable development across environmental, economic, and social dimensions, integrating sustainability principles into its business operations to support long-term stability and sustainable growth.
Looking ahead to 2026, the Thai economy is expected to continue expanding, although it will remain important to closely monitor government policies and economic measures. Key supporting factors include the continued recovery of the tourism sector, improving export performance, and interest rate trends that may facilitate greater accessibility to housing loans for consumers. These factors are expected to support the recovery of both the overall economy and the real estate sector.
The Board of Directors remains committed to prudent risk management, careful investment decisions, strengthening organizational efficiency, and conducting business in accordance with the principles of good corporate governance and sustainability in order to build confidence and create long-term value for all stakeholders.
On behalf of the Board of Directors, I would like to express our sincere appreciation to our shareholders, customers, residents, employees, business partners, financial institutions, and all stakeholders for their continued trust and support. The Company remains committed to conducting its business with transparency, integrity, and strong corporate governance to achieve stable and sustainable growth while maintaining the confidence placed in the Company.