Mr. Pasu Liptapanlop, Executive Director of Proud Real Estate Public Company Limited (PROUD), announced that the company has met the qualifications to move its shares to trade on the Stock Exchange of Thailand (SET) under the real estate and construction industry, specifically in the real estate development business sector, effective August 6, 2024. This transition represents a major achievement for PROUD, reflecting its continued growth through expanding luxury real estate projects and successful mergers, which have strengthened its financial position despite a challenging economic climate.

The move to the SET provides PROUD with an opportunity to enhance its business capabilities, reinforce shareholder confidence, and attract more institutional investors, both domestic and international, including high-net-worth individuals and retail investors. The company is confident in delivering positive returns for all stakeholders.

"During our time listed on the MAI, PROUD has been a high-growth stock with strong fundamentals, outperforming the broader market. Since the beginning of the year, PROUD has maintained positive stock returns, unlike the MAI, which has decreased by over 13%, and the PROPCON sector, which has fallen by over 19%. Our stock has attracted value investors and foreign funds from Singapore, demonstrating ongoing confidence in our operational performance, despite industry challenges," Mr. Pasu said.

Looking ahead, PROUD has shown remarkable growth, partly due to the merger with NOBLE, which has already begun to contribute to revenue. The company currently has a backlog of over 10.692 billion baht, expected to generate revenue from 2024 to 2026. All ongoing projects have attracted significant interest from real demand and foreign buyers, with foreign sales increasing by 14% in Q2 2024 compared to 2023.

Despite the challenging real estate market, PROUD continues to grow by focusing on projects that cater to high-potential real demand and foreign clients, the company's core customer base. The company is also innovating with AI in project design and services while integrating sustainability practices. This approach ensures the company can achieve its growth targets and continue to thrive.

Moreover, PROUD has developed a sustainability strategy that considers environmental responsibility, social impact, and governance, in line with the UN Sustainable Development Goals (UN SDGs). The company is participating in a development program with the Stock Exchange of Thailand to enhance its sustainability standards, aiming to be part of the Thai ESG fund. The Cabinet has approved tax benefits for investments in such funds, allowing tax deductions of up to 30% of annual income or 300,000 baht, making it an appealing option for investors. This move is expected to increase investor interest, furthering PROUD’s global recognition and contributing to sustainable profits in the future.