On October 7, 2025, the share price of Proud Real Estate Public Company Limited (SET: PROUD) stood at THB 1.08 per share at 11:34 A.M. (GMT+7), increased by THB 0.06 per share or 5.88%, with a total trading value of THB 1.49 million.
This development follows a statement by Mr. Pasu Liptapanlop, Executive Director of PROUD, who stated that the company’s overall performance in 2025 will hit a new all-time high since its establishment.
Particularly in the second half of 2025, the company expects transfer revenues to exceed those of the first half, due to the progressive transfer of ownership at the Nue District R9 and VEHHA Hua Hin projects, which together have a total project value of THB 8.9 billion. Transfers are ongoing, and it is anticipated that the Board will consider paying dividends from the 2025 financial results for the first time in 2026.
As of the end of 2Q25, PROUD’s backlog stood at THB 7.7 billion, with about THB 4 billion to be recognized as revenue in the remainder of the year—this surpasses the company’s 1H25 revenue of THB 3.77 billion. By the end of 2025, the backlog is expected to be around THB 8–9 billion.
PROUD is preparing to launch The Residences at InterContinental Phuket Resort, a prestigious development with an investment exceeding THB 2.5 billion (around USD 77 million). This marks the company’s second Branded Residences project in Thailand under the globally renowned InterContinental brand, with a VVIP launch event scheduled for October 18 at the Jim Thompson House.
The Residences at InterContinental Phuket Resort is an ultra-exclusive residential development comprising only 111 units on a 3.5-rai plot. Units range from one-bedroom options of 58 square meters up to luxury penthouses with five bedrooms, totaling 425 square meters, delivered fully furnished with premium-grade furniture. Prices start from THB 15–130 million. Construction is set to begin in November 2025 and is expected to be completed in 3Q27.
“Drawing upon our extensive experience and proven success in developing world-class luxury real estate projects across Bangkok and Hua Hin, PROUD is now ready to expand our residential development into Phuket province, a world-class destination regarded as one of Asia’s most highly sought-after luxury real estate city,” stated Mr. Pasu.
Regarding future project launches, PROUD has postponed two new projects in 2025 due to unfavorable market conditions. These projects—located in Hua Hin and a single-house project on Thai Chamber of Commerce Road, priced at THB 15–20 million with a total project value of around THB 6 billion—have been put on hold. In summary, the only new project launched in 2025 is The Residences at InterContinental Phuket Resort.
Mr. Pasu further stated that the company has allocated a land acquisition budget of THB 3 billion for 2025. So far, THB 1.3 billion has been spent to acquire three plots in Phuket, Hua Hin, and Bangkok, with project launches expected to be worth about THB 10 billion in 2027–2028. The remaining investment budget will continue to focus on Phuket, Hua Hin, and Bangkok.
Moreover, in 1Q26, the company will be debt-free with a cash balance of THB 2–3 billion from ongoing project transfers. This cash flow will serve as funding for future land acquisitions and drive continuous revenue recognition.
