(Mr. Wanchai Sarathulthat)
Chairman of the Board

2016 was another milestone year for Golden Land Property Development PLC that represented its accomplishment in the performance targets, particularly on the revenue growth that reached Baht ten billion, which was a major step toward its sustainable growth path.

The Company achieved its planned operational goals while its low rise residential projects received continued market attention and its new commercial development, which was the FYI Center, also became widely accepted.

Last year the real estate market faced another challenging year as financial institutions tightened their residential loan approval standards. Nevertheless the government commitment on the extension of the Sky Train Lines and other public transportation networks into the suburban area resulted in a noticeable expansion of low rise residential developments, and thus benefited the Company business.

For the office rental business, the rental rates continue to rise due to sustained increase in demand as a result of the positive effects of the government attempts to attract investments from foreign investors into the country.

On behalf of the Board of Directors of Golden Land Property Development PLC, I would like to express my sincere thanks to all our shareholders, management, and staff who have always supported our business operations. I would also like to reiterate the commitments of the Board of Directors to lead the Company towards our target of being the country’s leading real estate company that abides by principles of transparency, ethics, and good corporate governance while continue to diligently work to create the best returns for all our stakeholders.

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