1.5 Safety of Life and Property The Company realized the important of safety of life and property of our employee, subcontractors, direct workers and resident. Therefore, company have set security system and employed ofﬁcial security ofﬁcer to ensure that everyone in the site are strictly follow security standard. Effective preventive action can minimize lost of life and property of all party. Besides, we can ensure that company have effective investment as well as save cost of renovation in the near future.
2. Acguiring center business district land for project development. Most of company’s project located at city center because is very popular among customer due to easy access and facility provided. The land of city center is and highly demanded from developer. The Company have realized the risk of limited city center land, thus we have planned ahead and already purchased sufﬁcient city land for our future project development. Besides, the Company also bought other land area which researched and analyzed by marketing research team that it will have potential to be business center, resident center and government center such as Chaengwattana and Kaset-Nawamintr.
3. Expert in condominium segment The Company only started involved in Condominium segment in year 2006 under brand of “A Space” and to date, we have launched 6 projects (4,430 units). Realized that company is the expert in condominium segment compared to other developer, we launch sales before start construction work. This method can help to reduce the risk of unsold condominium. After launched sales of these 6 projects, we have found that sales of our condominium were very successful. Other risk factor is ﬂuctuation of construction cost of condominium due to sales before construction work. Thus, company have awarded contract to main contractor based on turnkey project basis. Besides, we have negotiated and purchased material in advance to prevent ﬂuctuation of material price. Although One Up Co., Ltd. which is its subsidiary just established in November 2007, but with professional top management who have experience in real estate and all type of construction, we have completed 13 projects within 3 years of operation. They are:-
6 Projects of Condominium. (1) a space Asoke Phase I, (2) a space Asoke Phase II, (3) a space Kaset-Nawamintr, (4) a space On-Nuch, (5) a space Asoke hideaway and (6) a space Play
7 Projects of Townhome (1) The Colors Kaset Phase I, (2) The Colors Kaset Phase II, (3) The Colors Tiwanon Phase I, and (4) Areeya Mova, (5)The Colors Premium Kaset Phase I, (6) The Colors Premium Tiwanon Phase I (7) Areeya To Be
For year 2011, we already secured 7 projects; 2 projects are under construction and 5 projects in the pipeline. Based on few years’ performance in single house, town home and condominium, we are able to be one of the new wave market leaders in real estate industry. The Company commits to produce high quality product at reasonable price in order to fulﬁll modern lifestyle of our customer.
4. Risk of major shareholders controlling the company At present, the Company has 2 groups of major shareholders - Laohapoonrungsee family and Porncharoenchaisilp family who hold 29.36 % and 25.31% of total shares respectively. If they collaborate their votes in the future, they are able to control all the shareholders even in the committee appointment or the special resolution which need major vote except the special resolution that require 75 ¾ of the shareholder’s vote for other activities during the Company’s shareholders meeting. However, the company still has the committee who will examine and consider the implementation of the Company so that it is fair to all shareholders.
AREEYA AWARD WINNING ANNUAL CHIC REPORT 2010
Published on Oct 17, 2013