Throughout 2025, the overall economic environment remained highly uncertain and volatile, while competition within the real estate development sector continued to intensify, placing ongoing pressure on the industry. Under such circumstances, companies were required to continuously review and adjust their strategies, operational plans, and execution approaches in order to maintain resilience and long-term competitiveness.
For Nirvana Development Public Company Limited (the “Company” or “NVD”), 2025 was a year of adaptation, consolidation, and the strengthening of strategic foundations. The Company continued to implement an adaptive management strategy to effectively respond to ongoing market volatility, with a strong focus on maximizing value from its existing assets, strengthening financial discipline, optimizing cost management, and maintaining prudent cash flow management to ensure long-term financial stability.
During the year, NVD continued to advance its real estate development under the Living Revolution concept, further reinforcing its distinctive brand identity. The Company made continued progress in its township development initiative in the Krungthep Kreetha area, which reflects our long-term vision of creating sustainable living environments. The development of Nirvana PORCH, positioned as a community hub, has played a key role in enhancing residents’ quality of life, increasing convenience, and generating long-term value for our customers’ assets.
The Company remains focused on residential development for sale, leveraging competitive advantages derived from prime project locations along main roads, distinctive architectural design, and products that precisely address the needs of target customer segments. In addition, NVD continues to strengthen its competitive advantage through strategic partnerships across various dimensions. These include collaboration within the Piyapombatkul Group and its affiliates to secure high-quality construction materials at competitive cost levels, as well as partnerships with financial institutions to ensure access to funding and financial costs that remain competitive with larger players in the industry.
Looking ahead to 2026, the Company will build upon the solid foundation established in prior years, with a clear focus on sustainable and quality-driven growth. NVD aims to further align its business models and project development with evolving market conditions and changing consumer behavior, while enhancing operational efficiency, cost management, and effective resource utilization. These initiatives are intended to support stable returns for shareholders over the long term.
Alongside business growth, NVD remains firmly committed to conducting its business responsibly, with due consideration for environmental and social impacts. The Company has collaborated with Baker McKenzie to develop frameworks for reducing greenhouse gas emissions and carbon footprint. In parallel, NVD continues to promote the use of clean energy, such as solar power, increase green spaces, and incorporate environmentally friendly design principles across its projects. These initiatives will remain a key priority throughout 2026 and beyond, as part of our contribution to environmental sustainability and climate change mitigation.
On behalf of the Company, I would like to express my sincere appreciation to our shareholders, customers, business partners, and employees for their continued trust and support. I reaffirm our commitment that in 2026, NVD will continue to conduct its business with prudence, transparency, and strong corporate governance, while striving to achieve sustainable growth and contribute positively to the long-term development of society and the environment.
Mr. Chatchai Piyasombatkul
Chairman of the Executive Committee
Chairman of the Corporate Governance and Sustainable Development Committee