In 2024, domestic economic conditions have shown signs of recovery, particularly in the service and tourism sectors, driven by the increasing number of international visitors. The government’s economic stimulus measures, along with efforts to maintain low interest rates, have further supported investment and domestic consumption. However, global economic conditions and domestic political stability continue to influence the country’s GDP growth.

The transition to an aging society has impacted on the labor force, while market oversupply and stricter credit approval processes have reduced housing affordability. Additionally, consumer demand has weakened, leading to intense competition in the low-rise residential market. In response, the company has slowed the launch of new projects and prioritized selling existing inventory.

Over the past year, the company raised capital to reduce financial costs amid tighter lending conditions from financial institutions. Adapting our marketing strategies to align with economic conditions and customer needs has been a key focus, leading to business restructuring and strategic adjustments. The company has placed greater emphasis on developing rental properties, including buildings, factories, and warehouses, which continue to show strong growth potential. This shift aims to ensure stable revenue streams and deliver sustainable value to our shareholders.

On behalf of the Board of Directors and management, I would like to extend my sincere gratitude to our shareholders, investors, financial institutions, business partners, and all stakeholders for their trust and support in M.K. Real Estate Development Public Company Limited. I would also like to express my appreciation to our executives and employees for their dedication and resilience in navigating challenges, even during the most demanding times.

Looking ahead, please be assured that the company remains committed to conducting business with integrity, adhering to good corporate governance, and strengthening its foundation while ensuring sustainable and stable growth in both revenue and corporate development.