(Mr. Panote Sirivadhanabhakdi)
Chairman of Executive Committee
2016 represented another important step for Golden Land Property Development PLC, in which it successfully achieved its planned operational targets. Despite the slow economic growth, our low rise development projects, as well as our new office rental building, the FYI Center, have shown an outlook of positive growth.
Since 2015, Golden Land Property Development PLC and Frasers Centerpoint Limited (FCL) have maintained a business alliance that helps strengthen our corporate capital and enabled us to carry on our business progress both in the low rise residential developments and the commercial development segments. In 2016, the revenues from the low rise residential developments were our main source of income with Baht 9,807 million worth of transferred property during the year, or a 34%growth from 2015. Additionally, we also launched a new commercial development project named the Samyan Mitrtown which is located at the corner of the Rama 4 - Phayathai.
Furthermore, we also raised funds from the public sales of the trust units of Golden Ventures Leasehold Real Estate Investment Trust (GVREIT), which is traded on the Stock Exchange of Thailand. This move increased our company liquidity and added to our overall operational success and financial potentiality which made TRIS Rating Co., Ltd. move our company’s credits worthiness and its outlook to BBB+/Stable. This credit-rating made our company become the fifth highest rank among the companies in the real estate sector.
On behalf of the Chairman of Executive Committee of Golden Land Property Development PLC, I would like to thank all our shareholders, interested parties, management and staff who continue to provide their trust and support to our company. Finally, I would like to assure all of you that our management directions under the scheduled business strategies shall lead our company towards its sustainable growth and create the best returns to all our stakeholders.