The year 2025 marked yet another challenging chapter for the Thai economy and the property development sector. Economic growth remained modest amid a combination of domestic and global pressures, including the slowdown of the world economy, ongoing geopolitical tensions, persistent inflation, elevated interest rates, and high household debt levels, all of which continued to constrain purchasing power and overall market sentiment. In such an environment, success in real estate development requires far more than the ability to deliver quality projects; it demands vision, strategic discipline, deep consumer insight, and the agility to respond effectively to an ever-evolving landscape. Against this backdrop, Nirvana Development Public Company Limited continued to demonstrate resilient operating performance. This was made possible by our disciplined focus on the upper-end segment, our commitment to developing projects in high-potential locations, and our unwavering emphasis on delivering residential experiences that reflect both quality and enduring value. These strengths have enabled the Company to maintain a solid customer base and generate positive market response, particularly in Bangkok’s eastern growth corridors, including Krungthep Kreetha New Cut Road and the Srinakarin–Romklao area.
In these strategic locations, the Company has advanced its Township development model under the concept of Mixed-Use Private Residences. This approach reflects our belief that modern property development should extend beyond the creation of residences alone. It should embrace the design of a complete living ecosystem, one that thoughtfully integrates privacy, convenience, lifestyle, and long-term value appreciation. At the heart of this ecosystem is Nirvana PORCH, which plays a vital role in enhancing everyday convenience, enriching the living experience, and reinforcing the overall strength of the surrounding community.
Throughout 2025, Nirvana PORCH began to emerge distinctly as a vibrant community hub, underscoring the success of our integrated development philosophy. Rather than viewing each project as a standalone asset, we have sought to create a holistic environment that meaningfully elevates the quality of life for our residents and redefines the very meaning of home.
This vision has translated into tangible market success. Our target customers increasingly recognize not only the quality of the residences themselves, but also the growth potential of the location, the completeness of the surrounding community, and the long-term value of the assets they invest in. As a result, Nirvana’s projects in this area have continued to receive strong market acceptance. One notable example is Nirvana @WORK Krungthep Kreetha, which was fully sold out across all phases, with total sales value exceeding THB 200 million within a short period of time. This achievement reflects not only the strength of the location and development concept, but also the confidence our customers place in the Nirvana brand and in the values we consistently uphold.
On behalf of the management team, I would like to express my sincere appreciation to our shareholders, joint venture partners, business partners, customers, employees, financial institutions, and all stakeholders for your continued trust and support. Your confidence remains a vital foundation of our resilience and progress, empowering Nirvana to navigate challenges with strength and to move forward with confidence and responsibility.
Looking ahead, Nirvana remains committed to creating distinctive, high-quality developments that address the evolving needs of modern living, while upholding prudent management, transparency, and sustainable growth. We will continue to create balanced value for our customers, society, and shareholders, and to advance the Company toward a future defined by elegance, resilience, and long-term success.
Mr. Sornsak Somwattana
Chief Executive Officer