Real Estate Development

AssetWise Public Company Limited, or ASW, reported accumulated sales of 15.287 billion baht in the first nine months of 2026, equal to 83% of its full-year sales target of 18.5 billion baht. Chief Executive Officer Kromchet Vipanpong said the results were driven by government property stimulus measures and cuts to the policy interest rate. Products that continued to draw strong demand were condominiums along mass transit lines and campus condos. In the third quarter, the new Wynn Bangmod-Pracha Uthit project, valued at 500 million baht, booked more than 50% of its units from the moment sales opened. The company plans to launch three new projects in the final stretch of the year. These are the Cave Bloom Kaset campus condo near Kasetsart University, with a total project value of 1.5 billion baht, and two Leisure Residence projects in Phuket through its affiliate Rompho Property Public Company Limited, or TITLE. They are The Fizz Kata, a second condominium in the Kata Beach area with a project value of 1.1 billion baht, and The Quartz Karon, a luxury condominium with a project value of 1.4 billion baht, marking the company's first expansion into Karon Beach. The company assessed that flooding in several areas could affect confidence in residential locations in the short term, but it still sees positive factors from the tourism sector, especially Phuket, which is entering its tourism season and benefiting from four new direct flight routes from Europe, the Middle East and Eastern Europe starting in February. Meanwhile, data from the Tourism Authority of Thailand's Phuket office showed that in the first eight months of the year, the largest group of foreign tourists arriving in Phuket remained those from Russia, China, India and Europe, high-purchasing-power buyers looking for second homes and long-term residences.

Lalin Property Public Company Limited, or LALIN, has launched a special campaign called "Easy Home, Pay Much Less!" running from October 10-11, 2026, to help reduce expenses for those planning to buy a home. The campaign offers benefits worth more than 300,000 baht in total, covering everything from the early stages of mortgage payments through to life after moving in. Customers who join the campaign will receive an introductory interest rate starting at 0.73% for up to 3 months, along with help paying water and electricity bills for up to 40 months, or up to 2,500 baht per month, plus free transfer-day expenses, under conditions set by the company. The campaign covers several types of housing, including detached houses, new-concept homes, and townhomes, in the price range of 2 to 10 million baht. Participating projects span LALIN's main brands, such as "Lalin Greenville," "Baan Lalin," "Lanceo," and "Lio," all of which are developed under the Green Living Standard. Those interested can visit the projects and receive the special privileges on October 10-11, 2026. Interest rates and loan conditions are subject to the criteria of participating banks.

Kromchet Viphanphong, Chief Executive Officer of ASW, revealed that accumulated sales from housing and condominium projects in the first nine months of 2026 totaled more than 15.2 billion baht, representing 83% of the full-year sales target of 18.5 billion baht. In the third quarter of 2026, momentum was driven by newly launched projects such as the Winn Bang Mod-Pracha Uthit project, valued at 500 million baht, which achieved bookings of more than 50% from its launch period, as well as the Campus Condo Rangsit campaign with a major giveaway offering ready-to-move-in units. The company is preparing to launch 3 new projects soon, namely the Cave Bloom Kaset campus condo project near Kasetsart University, valued at 1.5 billion baht, and the Leisure Residence project in Phuket under the development of Rompho Property Public Company Limited, a subsidiary, led by The Fizz Kata condominium project, the second on the Kata Beach location, with a combined value of 1.1 billion baht, building on The Catabello project, and expanding for the first time to Karon Beach with The Quartz Karon project, valued at 1.4 billion baht, which is expected to help drive sales in the latter part of this year. The company expects that flooding conditions in the fourth quarter of 2026 may affect confidence in residential locations in the short term, but it is still closely monitoring the situation and preparing assistance measures for residents and surrounding communities. Meanwhile, the real estate market continues to be supported by the tourism sector, especially Phuket province, a world destination that benefits from the launch of 4 new direct flight routes from Europe, the Middle East, and Eastern Europe starting in October onward.

Singha Estate Public Company Limited, or S, has signed a lease agreement for more than 3,000 square metres with World Gym (Thailand) Co., Ltd. to develop a new World Gym location in Thailand within the S-OASIS office building. Knight Frank Thailand acted as advisor on the deal, and the facility will officially open for service in the first quarter of 2027. Chairat Sivapornpun, Chief Executive Officer of Singha Estate, is leading the effort to add value to the S-OASIS office building through this partnership with a global brand. Meanwhile, Ornanee Poolkhwan, Chief Executive Officer of the Retail and Commercial Business Development line, said World Gym will become a strategic tenant that strengthens the S-OASIS ecosystem and forms an important part of the tenant mix strategy, with the wellness space of more than 3,000 square metres filling out S-OASIS as a work-life destination. John Caraccio, Chief Executive Officer of World Gym International, said Thailand is a high-potential market for the fitness and wellness industry and that S-OASIS is an extremely suitable location. Panya Jenkitwattanalert, Partner and Head of Office Advisory at Knight Frank Thailand, said the non-CBD market continues to show positive trends, with Knight Frank reporting an occupancy rate of 80%.

Singha Estate Public Company Limited, or S, has signed an agreement with World Gym, a global partner, to open a new World Gym in Thailand within the S-OASIS project. Aoranee Poolkhwan, Chief Executive Officer of the Retail and Commercial Business Development Division at S, said that World Gym (Thailand) Co., Ltd. is leasing more than 3,000 square meters, with Knight Frank Thailand serving as advisor on the deal. The facility will officially open in the first quarter of 2570. The arrival of World Gym as a strategic tenant is part of the tenant mix management strategy for S-OASIS, helping to increase diversity in space usage, generate traffic outside working hours, and support recurring income alongside long-term growth in the value of the commercial real estate portfolio. John Caraccio, Chief Executive Officer of World Gym International, said that Thailand is a high-potential market for the fitness and wellness industry, and views S-OASIS as an especially suitable location. Panya Jenkitwattanalert, Partner and Head of Office Advisory at Knight Frank Chartered (Thailand) Co., Ltd., said that the non-CBD market continues to show positive trends, with Knight Frank reporting an occupancy rate of 80%.

Singha Estate Public Company Limited, or S, has signed an agreement to lease more than 3,000 square metres of office space in the S-OASIS building to World Gym (Thailand) Co., Ltd. to develop a new World Gym in Thailand, with Knight Frank Thailand acting as advisor on the deal. The new facility will officially open for service in the first quarter of 2570. Chairat Sivapornphan, Chief Executive Officer of Singha Estate, and John Caraccio, Chief Executive Officer of World Gym International, jointly drove the deal forward. Oranee Poolkhwan, Chief Executive Officer of the Retail and Commercial Business Development Division at S, said that World Gym's arrival as a strategic tenant will strengthen the S-OASIS ecosystem and form an important part of its tenant mix strategy. The wellness space of more than 3,000 square metres will help complete S-OASIS as a work-life destination connecting work, life and wellness, while supporting recurring income and increasing the value of the commercial property portfolio over the long term. Panya Jenkitwattanalert, Partner and Head of Office Advisory at Knight Frank Chartered (Thailand) Co., Ltd., said the non-CBD market still shows positive trends, with Knight Frank reporting an occupancy rate of 80%.

AssetWise Public Company Limited, or ASW, reported accumulated sales from its housing and condominium projects in the first nine months of 2026 of more than 15.287 billion baht, or 83% of its full-year sales target of 18.5 billion baht. Chief Executive Officer Kromchet Viphanphong said part of the third-quarter sales came from the newly launched Winn Bangmod–Pracha Uthit project, worth a total of 500 million baht, which booked more than 50% of its units from the early launch period, as well as the Campus Condo Rangsit campaign. In the final stretch of 2026, the company plans to launch three new projects: Cave Bloom Kaset, a campus condo near Kasetsart University worth a total of 1.5 billion baht, and Leisure Residence projects in Phuket developed by its subsidiary Rompho Property Public Company Limited, or TITLE. These comprise The Fizz Kata, its second condominium project in the Kata Beach area worth a total of 1.1 billion baht, building on The Catabello, and The Quartz Karon, a luxury condominium project worth a total of 1.4 billion baht, marking its first expansion into Karon Beach. Management said the tourism industry, especially in Phuket province, remains a key driver, boosted by the launch of four new direct flight routes from Europe, the Middle East and Eastern Europe starting in October. The company may also consider expanding with additional new projects in Phuket after the strong response to the Bienkana Surin project, and is confident this will help drive sales to meet the 18.5 billion baht target.

AssetWise Public Company Limited, or ASW, reported cumulative sales for the first nine months of 2026, from January to September, totalling 15.287 billion baht, or 83% of its full-year sales target of 18.5 billion baht. Chief Executive Officer Kromchet Viphanphong said part of the third-quarter sales came from the newly launched Winn Bangmod–Pracha Uthit project, worth a total of 500 million baht, which booked more than 50% from launch, as well as the Campus Condo Rangsit campaign and the campus condo group and condos along electric train lines, which continue to see steady demand. For the final stretch of 2026, the company plans to launch three new projects as scheduled: Cave Bloom Kaset, a campus condo near Kasetsart University worth a total of 1.5 billion baht, and Leisure Residence projects in Phuket developed by Rompho Property Public Company Limited, or TITLE, a subsidiary, comprising The Fizz Kata, its second condominium in the Kata Beach area, worth a total of 1.1 billion baht, and The Quartz Karon, a luxury condominium project on Karon Beach worth a total of 1.4 billion baht. The company said it is also monitoring flooding, which could affect confidence in residential locations in the short term, and expects the property market to remain supported by the tourism sector, government measures, and cuts in the policy interest rate.

AssetWise, or ASW, recorded presales of 15.287 billion baht in the first nine months of 2026, from January to September, equal to 83% of its full-year sales target of 18.5 billion baht. Chief Executive Officer Kromchet Viphanphong said part of the third-quarter sales came from the newly launched Winn Bang Mod–Pracha Uthit project, worth a total of 500 million baht, which booked more than 50% from launch, as well as the Campus Condo Rangsit promotional campaign offering ready-to-move-in units. For the final stretch of 2026, the company plans to launch three new projects: Cave Bloom Kaset, a Campus Condo near Kasetsart University worth a total of 1.5 billion baht, and Leisure Residence projects in Phuket developed by its subsidiary Rom Pho Property, or TITLE, namely The Fizz Kata, its second condominium in the Kata Beach area, worth a total of 1.1 billion baht, building on The Catabello, and The Quartz Karon, a luxury condominium worth a total of 1.4 billion baht, marking its first expansion into Karon Beach. The company believes the Phuket market, as a world destination, will benefit during the high season from four new direct flight routes from Europe, the Middle East and Eastern Europe starting in October. Meanwhile, the largest groups of foreign arrivals to Phuket in the first eight months were led by Russia, China, India and Europe, high-purchasing-power groups seeking second homes and long-term residences.

Assetwise Public Company Limited, or ASW, reported accumulated sales from its housing and condominium projects in the first nine months of 2026 at 15.287 billion baht, accounting for 83% of its full-year sales target of 18.5 billion baht. Chief Executive Officer Kromchet Vipanpong stated that third-quarter sales were boosted by the Winn Bang Mod–Pracha Uthit project, valued at 500 million baht, which has been more than 50% booked since its launch, as well as the Campus Condo Rangsit campaign for the final stretch of the year. ASW is preparing to launch 3 new projects with a combined value of 4 billion baht, comprising the Cave Bloom Kaset project, a campus condo near Kasetsart University valued at 1.5 billion baht, and Leisure Residence projects in Phuket under the development of Rompho Property Public Company Limited, or TITLE, a subsidiary in the group, namely The Fizz Kata project valued at 1.1 billion baht and The Quartz Karon project valued at 1.4 billion baht, marking its first expansion into Karon Beach. The company is maintaining its full-year sales target of 18.5 billion baht, supported by the tourism sector, especially Phuket province, which has 4 new direct flight routes from Europe, the Middle East, and Eastern Europe starting in October.

Yuanta Securities issued a research note maintaining its Buy recommendation on AP (Thailand) Public Company Limited, or AP, with a fair value of 9.45 baht per share, based on a PER of 6.4 times, representing an upside gain of 21.2% from the current price, and expects a 2026 dividend of 0.56 baht per share, representing a dividend yield of 7.18%. It expects normal profit in the second half of 2026 at 2,659 million baht, growing 35.2% compared with the first half and 8.7% compared with the same period last year, supported by a backlog of low-rise projects at an all-time high and the start of transfers at high-value condominium projects, namely Rhythm Charoennakhon Iconic, which is 85% sold, and Life Sathorn-Narathiwas 22, which is 35% sold, a joint venture project with a combined value of 6,800 million baht, as well as Life Charoennakhon-Sathorn, which is 68% sold with a value of 2,500 million baht. Second-half 2026 presales are expected at approximately 27,000 to 28,000 million baht, growing both half-on-half and year-on-year, driven by a plan to launch new projects worth a combined 33,820 million baht, up 47% half-on-half, comprising 31 new projects in total: 27 low-rise projects worth 28,820 million baht and 4 high-rise projects worth 4,500 million baht. Meanwhile, the impact from flooding is expected to be limited, with 22 of 246 low-rise projects affected and only 7 projects currently on sale, representing 3.5% of all 199 projects on sale. No condominium projects were affected.

Kromchet Viphanphong, Chief Executive Officer of AssetWise Public Company Limited, or ASW, disclosed that the company expects revenue in the fourth quarter of 2026 to reach its highest level of the year, driven by the gradual transfer of completed projects. KAVE Town, with a project value of 4.5 billion baht, is one of the main projects scheduled for delivery in the fourth quarter of 2026. In the third quarter of 2026, the company began transfers at several large projects: THE TITLE Heritage Bang-Tao worth 6 billion baht, THE TITLE Cielo Rawai worth 1.2 billion baht, and Modiz Voyage Srinakarin worth 2.6 billion baht, supporting continuous revenue recognition in the second half of 2026. Regarding water conditions in Bangkok and its vicinity over the past two to three days, more than 80% of customers are still proceeding with transfers as scheduled and have not asked to postpone their appointments, as most had prepared power of attorney documents in advance. On its expansion into becoming a Lifestyle Developer, the company aims for recurring income to begin contributing significantly from 2027, expected to account for about 3-5% of total revenue, and targets a recurring income proportion of about 10% of total revenue within three to five years. It is also advancing its hospitality business in Phuket through The Asset Wise (TITLE), as well as plans to develop hotels together with IHG, namely voco Phuket Bangtao with 175 rooms, expected to open in 2029, and Hotel Indigo Phuket Nai Yang Beach with about 170 rooms, expected to open in 2030.

Assetwise Public Company Limited, or ASW, reported accumulated sales from its housing and condominium projects in the first nine months of 2026, from January to September, totalling 15,287 million baht, or 83% of its full-year sales target of 18,500 million baht. Chief Executive Officer Kromchet Viphanphong said part of the third-quarter sales came from the newly launched Winn Bang Mod–Pracha Uthit project, worth a total of 500 million baht, which secured bookings of more than 50% from the early launch period, as well as the Campus Condo Rangsit giveaway campaign, offering ready-to-move-in units, which drew a strong response from students, parents, investors and first jobbers in the Rangsit area. For the final stretch of the year, the company plans to launch three new projects: Cave Bloom Kaset, a campus condo near Kasetsart University worth a total of 1,500 million baht, and Leisure Residence projects in Phuket developed by Rompho Property Public Company Limited, or TITLE, a subsidiary, led by The Fizz Kata, its second condominium project in the Kata Beach area, worth a total of 1,100 million baht, building on The Catabello, and expanding for the first time to Karon Beach with The Quartz Karon, worth a total of 1,400 million baht. The executive said the Phuket market is also being supported by the tourism high season and the opening of four new direct flight routes from Europe, the Middle East and Eastern Europe starting in October. Foreign arrivals in Phuket over the first eight months were led by Russia, China, India and Europe, high-purchasing-power groups seeking second homes and long-term residences. The company is confident that Phuket's market potential, combined with efficient inventory management, will help drive sales to meet the 18,500 million baht target.

Jakkraipaisan Estate Public Company Limited, or JAK, is preparing to officially launch its luxury detached-housing project under the name SEQUOIA on 10 October 2026, with starting prices of roughly 20 million baht and up. Ms. Sunisa Jakkraipaisan, Deputy Managing Director for Sales and Marketing, told Thanhoon that this move into the upper-end residential market is part of a diversification strategy, after the 1-3 million baht housing segment continued to face constraints from financial institutions' stricter lending approvals. The company has set a 2026 revenue target of 378 million baht and is confident it will meet that goal, after first-quarter and second-quarter 2026 operating results came in ahead of plan. For 2027, it targets revenue of 435 million baht, or growth of about 15% from 2026, by gradually launching new projects and expanding its customer base into a wider range of price levels. JAK currently has projects spread across Bangkok, Pathum Thani and Chonburi. In the Bangkok-Pathum Thani area it has the Sequoia project, the Canna project, Talad Thai Khlong 2 and the Pine Condo Rangsit project, while in Chonburi it has the Fern Bang Saen Motorway project, the Keela project and the Canna Roopoh project. The company sees continued potential there from economic activity, employment and infrastructure development in the Eastern Economic Corridor, or EEC. At the same time, the company is placing greater emphasis on ESG concepts, both in designing homes that use energy efficiently and in increasing green space within its projects.

AssetWise Public Company Limited, or ASW, has partnered with the Digital Marketing program at the Faculty of Business Administration, Bangkok University, to open a space for more than 800 students to co-create digital marketing ideas for the KAVALON project, a new campus condominium kingdom right next to the Bangkok University fence, through the THE REAL CHALLENGE and WORK ON CAMPUS campaigns. Under THE REAL CHALLENGE, students are divided into 80 teams, which are then narrowed down to a final 10 teams competing for a total prize pool of 160,000 baht, and the selected works have the chance to be used in real communications and advertising for the project. The WORK ON CAMPUS campaign, meanwhile, will let selected fourth-year students try working like real employees, handling marketing for the KAVALON project. Ms. Pachara Praphanwattana, Senior Managing Director of the Condominium Real Estate Business Group at ASW, said that the KAVALON project is valued at 4.5 billion baht, building on more than 10 years of experience developing campus condos under the KAVE brand in the Bangkok University location. The project is a low-rise condominium, 8 storeys high, with 9 buildings totaling 2,195 units on an area of more than 20 rai, with prices starting at 1.79 million baht, fully furnished rooms, and ready to move in in January 2027. It is scheduled for completion in early 2027, with transfers beginning in late 2026. Dr. Kittiphum Supamontri, Director of the Digital Marketing program at the Faculty of Business Administration, Bangkok University, said that this collaboration connects what is learned in the classroom with the real business sector, from real briefs and guidance along the way to evaluation of the work, so that students learn under real conditions involving budgets, brand direction, competitors, and consumer purchasing decisions.

Raimon Land Public Company Limited, or RML, has placed the principal and interest with the registrar, CIMB Thai Bank Public Company Limited, on 2 October 2026 in preparation for repayment of the RML26OA bonds due on 8 October 2026. Miss Oranong Intaraprasit, Chief Executive Officer of KPM Securities Company Limited, or KPM Securities, in her capacity as underwriter and debenture holders' representative, disclosed that the company had been notified by RML of the deposit. Placing the funds with the registrar is an important step ahead of the redemption date, in preparation for paying principal and interest to bondholders in accordance with the specified rights and conditions. Previously, RML had communicated its preparations for cash flow and liquidity to support the debt falling due, and this deposit with the registrar makes the preparation process for redeeming the RML26OA bonds clearer. Miss Oranong added that at a time when investors in the bond market remain focused on the liquidity and debt-servicing ability of bond issuers, RML's placement of the principal and interest with the registrar before the due date reflects its readiness in managing liquidity to concretely support repayment of this bond series.

Marcus & Millichap reported second-quarter revenues of $202.9 million, up 17.8% year on year and exceeding analysts' expectations by 4.4%, in what was a stunning quarter for the commercial real estate investment sales and advisory firm. The company also beat analysts' EPS and EBITDA estimates, though its stock is down 8.9% since reporting and currently trades at $28.45. The results came as the 13 consumer discretionary real estate services stocks tracked reported a mixed quarter, with revenues as a group beating consensus estimates by 11.5% while next quarter's revenue guidance came in 4.4% below. Among peers, Howard Hughes Holdings posted the group's biggest analyst estimate beat and fastest revenue growth, with revenues of $1.12 billion, up 330% year on year, while Offerpad delivered the weakest performance, with revenues of $77.65 million, down 51.6% year on year. Cushman & Wakefield reported revenues of $2.76 billion, up 11.2% year on year, and Newmark reported revenues of $888.4 million, up 17% year on year.

Land and Houses Public Company Limited, or LH, informed the Stock Exchange of Thailand that its board of directors, at a meeting on October 1, 2026, approved the payment of an interim cash dividend to common shareholders at 0.08 baht per share, paid out of the company's operating results for the first half of 2026, covering the period from January 1 to June 30, 2026. The company's shares have a par value of 1 baht each. The company has set the XD mark, the date on which buyers of the securities are not entitled to the dividend, for October 14, 2026, and has set the record date for shareholders entitled to receive the dividend for October 15, 2026, before paying the dividend to shareholders on October 29, 2026.

Supalai, or SPALI, has confirmed that the current flood situation does not affect projects currently open for sale, as every project has been designed to withstand flood levels equivalent to the 2011 situation. Managing Director Tritecha Tangmatitham told the Stock Vision news team that the company can still launch new projects in the second half as planned, or close to it, totalling 19 projects with a combined value of approximately 22,660 million baht. In the third quarter of 2026, new launches proceeded as planned, and in the fourth quarter of 2026 the company is preparing to launch nearly 10 more projects, part of its full second-half launch plan. It is confident of a good response thanks to the strength of locations free from flood problems. Overall sales and transfers have not been affected, since no project has been directly damaged by flooding, and financial institutions are still approving loans for customers as normal. Transfers of ownership in late the third quarter of 2026 will be slightly affected by public holidays and by 30 September, the end of the government's fiscal year, when land offices open for only half a day. The company believes that once the situation eases, housing demand in non-flooded locations will recover quickly in a K-shaped recovery.

Land and Houses Public Company Limited, or LH, informed the Stock Exchange of Thailand that its board of directors has approved an interim dividend from its first-half 2026 operating results at 0.08 baht per share. The stock will go ex-dividend, or XD, on October 14, 2026, with the record date for dividend entitlement set for October 15, 2026, and payment scheduled for October 29, 2026. LH shares closed today at 3.44 baht, down 0.02 baht, or 0.58%, with trading value of 169.88 million baht.

Aorasirin Holding Public Company Limited, or ORN, held an auspicious foundation-pile ceremony to begin construction of THE ASTRA INFINITE, a luxury condominium in the heart of Chiang Mai in the Chang Khlan–Rakaeng area, with a total project value of 1.812 billion baht. Construction is expected to be completed and ready for occupancy by 2028. The project sits on more than 5 rai of land and comprises a 16-storey building with 421 units, offering rooms from Studio, 1 Bedroom, 1 Bedroom Plus and 2 Bedrooms up to 3 Bedrooms, with usable areas of 29 to 96 square metres. Units are on sale from a starting price of 3.1 million baht. Presales currently exceed 60%. The project comes with a Flow & Fine Air Filter air-purification system, the international EDGE Standard for energy-efficient buildings, EIA Approved safety certification and an Earthquake-Proof structure, along with premium common areas such as a Sky Lounge, Co-Working Space, Rooftop, rooftop swimming pool, a 180-degree Panoramic Fitness centre and a large green area. Chief Executive Officer Pridikorn Buranupakorn said THE ASTRA INFINITE is not merely a residence but the planting of a new landmark to support Chiang Mai as an international Living & Long-stay City.

Supalai Public Company Limited, or SPALI, has launched its two-storey detached home project "Supalai Parkville Bo Sang-San Kamphaeng" in Chiang Mai province, with a project value of over 1.5 billion baht on a site of more than 78 rai, starting at 4.66 million baht. Mr. Saichon Lueamkham, Senior Director of the Regional Project Line 4, said the project is developed under three main pillars: PEOPLE, LOCATION, and VALUE. The homes come in a Modern Tropical Series style with five models to choose from, usable areas of 150 to 330 square metres, three to four bedrooms, and two to three parking spaces. The project also features two large public parks totalling more than 2.5 rai, a clubhouse, a swimming pool, a fitness centre, and 24-hour security. Every unit also comes with a free Solar Rooftop installation, along with a Home Automation & Security system and the SABAI Application. The actual site will be open for viewing at a Pre-Sales event on 10-11 October, with discounts of up to 700,000 baht, a Central Gift Card worth 100,000 baht, and electrical appliances for those who book on the event day.

Jareeporn Jarukornsakul, Chairman of the Executive Committee and Group Chief Executive Officer of WHA Corporation Public Company Limited, or WHA, disclosed that all of WHA's industrial estates and logistics centres were unaffected by the flooding. All 12 industrial estates in the Eastern Economic Corridor, or EEC, are operating normally. In specific risk-prone areas, such as the industrial estate in Saraburi province adjacent to Khlong Rapeepat, the company is continuously monitoring water levels and pre-emptively draining water from reservoirs within the estate to free up additional storage capacity in the millions of cubic metres. Since the major flood of 2011, WHA's projects have never experienced flooding problems. The logistics centres use statistical water-level data going back as far as 80 years to assess risk, up from roughly 30 years of historical data previously considered, and internal project roads are designed to sit about 30 to 50 centimetres above the maximum flood level, while buildings are raised about 1.30 metres above the internal road level. The company is maintaining its 2026 land sales target at 2,500 rai, split between 2,300 rai in Thailand and 200 rai in Vietnam, after achieving 1,199 rai in the first half of the year. It is still awaiting clarity on the government's data centre policies and regulations, and believes the flood situation will not delay their consideration or issuance.

L.P.N. Development, or LPN, is preparing to hold the first presale of its Lumpini Park Bang Wa Interchange project on October 3-4, 2026, with prices starting at 1.29 million baht. The project targets real estate investors, offering a program that guarantees 6% returns for six years, alongside expertise in full-service rental management, plus a special offer of fully furnished and decorated units complete with furniture and electrical appliances. Buyers who register and book at the event will also receive discounts of up to 30,000 baht, limited to the first 50 only. The project is a low-rise condominium on more than 9 rai of land, comprising 4 buildings with a total of 862 units and a project value of over 1.5 billion baht. Unit types range from studios of 23.50 to 26.00 square meters, one-bedroom units of 27.00 to 34.50 square meters, and two-bedroom units of 34.00 to 35.00 square meters, along with common areas and more than 1 rai of green space. The project is located just 200 meters from Siam University, near Bang Wa Interchange station on the electric train network, which connects to the BTS Green Line and the MRT Blue Line. Completion and move-in are scheduled for early 2028.

L.P.N. Development Public Company Limited, or LPN, is preparing to hold the first presale of its Lumpini Park Bang Wa Interchange project from 3-4 October 2026, with starting prices set at 1.29 million baht. The project targets real estate investors with a program guaranteeing a 6% return for six years, alongside a full-service rental management offering. Those who register and book at the event will receive discounts of up to 30,000 baht for the first 50 customers, plus an offer of fully furnished units complete with furniture and electrical appliances. The project is a low-rise condominium developed on more than 9 rai of land, comprising 4 buildings with a total of 862 units and a project value of more than 1.5 billion baht. It includes studio units of 23.50-26.00 square meters, one-bedroom units of 27.00-34.50 square meters, and two-bedroom units of 34.00-35.00 square meters. The project features common areas and green space of more than 1 rai. Its key selling point is its location, about 200 meters from Siam University and close to Bang Wa Interchange station, which connects to the BTS Green Line and the MRT Blue Line. Construction is scheduled for completion and move-in readiness in early 2028. Interested buyers can visit the project and take advantage of presale offers at the sales office on the first floor of The Mall Lifestore Bang Khae.

In early trading today, major A-share indices diverged. At the midday break, the Shanghai Composite Index stood at 3,840.83 points, up 0.27%, while the Shenzhen Component Index fell 0.06%, the ChiNext Index slipped 0.17%, and the SSE STAR Composite Index dropped 1.38%. Shenzhen Properties A, which had posted two consecutive limit-ups, opened sharply lower and touched the daily limit-down. Around 10:17 a.m., the limit-down board was opened on heavy volume, and within less than half an hour before midday, the stock swung from a 7% decline to the limit-up, staging an intraday limit-down to limit-up reversal. By midday, the limit-up order book exceeded 120,000 lots, with half-day turnover of 763 million yuan and a latest market value of 7.295 billion yuan. Last night, the company disclosed an unusual movement announcement stating there was no material information that should have been disclosed but had not been, and cautioned that its latest price-to-earnings ratio of 177.99 times was significantly higher than the real estate industry's static price-to-earnings ratio of 12.3 times. Innovative drug stocks gained strength in the morning. CanSino Biologics hit the 20% limit-up about six minutes after the open, with a midday order book exceeding 48,000 lots, half-day turnover of 1.02 billion yuan, and a latest market value of 25.4 billion yuan. Trinomab Biotech, Chenkang Pharmaceutical, and Aosaikang Pharmaceutical also touched their daily limit-ups. On the news front, the Ministry of Industry and Information Technology and nine other departments recently released the 15th Five-Year Plan for the development of the pharmaceutical industry, proposing ten expected indicators by 2030, including operating revenue of pharmaceutical industrial enterprises above designated size exceeding 3.5 trillion yuan, first-in-class innovative drugs accounting for more than 25% of the global total, an average annual growth rate of the innovative drug industry exceeding 20%, and 20 pharmaceutical industry parks at the 100-billion-yuan level. Guosheng Securities said in a research note that from January to August 2026, the total value of China's pharmaceutical out-licensing deals reached 112.857 billion US dollars, already surpassing the 56.676 billion US dollars for all of 2024 and reaching 79% of the full-year 2025 total.

In early trading on September 30, the real estate sector opened lower and pulled back. Shenzhen Properties A, 5i5j, World Union, and Vanke A briefly hit limit-down. Vanke A touched limit-down just three minutes after the open, then quickly rebounded into positive territory, closing the morning session up 3.92%. Vanke A has been strong recently, notching three limit-up boards in seven trading days since September 18 and appearing on the Dragon and Tiger list four times. On the evening of September 22, Vanke A said in an announcement on abnormal stock trading that the company had noted active trading in listed real estate companies recently, and that after self-inspection, as of September 22, neither the company nor its largest shareholder had any material matters that should have been disclosed but were not. On September 29, the Ministry of Finance, the People's Bank of China, and the National Financial Regulatory Administration jointly issued the Notice on Implementing the Resident Home Purchase Loan Interest Subsidy Policy, making clear that the policy would be implemented nationwide from October 1, with a provisional implementation period of one year. Zheshang Securities believes that this is the first time the central government has directly subsidized residents' mortgage interest, meaning real estate policy has moved from monetary easing into an era of fiscal interest subsidies, which is highly significant.

Everbright Jiabao announced on September 29 that it recently received the final expropriation compensation payment of 8.59 million yuan under the Expropriation Compensation Agreement, bringing the total compensation received to 172 million yuan. As of the announcement date, the company has received all expropriation compensation related to this property expropriation matter, involving part of the property at 1385 Jialuo Road. In the first half of 2026, Everbright Jiabao achieved revenue of 583 million yuan and a net loss attributable to the parent company of 244 million yuan.

SC Asset Corporation Public Company Limited, or SC, gave the public a first look at Reference BAIE River Bangpho, the mega-project condominium of the year and SC's first riverside condominium, at a First Preview event on 26-27 September 2026, drawing unofficial bookings of more than 2 billion baht within two days. Kanokorn Limkamnerd, the head of SC Condo, said customers were drawn both to the location on the Chao Phraya River in the Bangpho area and to the project's development under the Multi-Generation Living concept, which caters to people of different age groups, along with common areas focused on wellness and wellbeing covering relaxation, health care, exercise, work and family time together. The atmosphere during the First Preview was lively across both SC's own channels and its Global Partners Club network, reflecting still-strong demand in the riverside condominium market. SC plans to officially launch Reference BAIE River Bangpho on 17-18 October.

Jinke Properties announced on September 29 that Chairman Guo Wei and other members of management have cumulatively increased their holdings by 2.65 million shares, representing 0.025% of the company's total share capital, with a cumulative increase amount of 3.19 million yuan. In the first half of 2026, Jinke Properties achieved revenue of 305 million yuan and net profit attributable to the parent of 18.56 million yuan.

Shibei Hi-Tech announced on the evening of September 29 that its wholly owned subsidiary, Shanghai Shibei Producer Services Development, signed a Shanghai Commercial Housing Sale Contract with Shanghai North Enterprise Group to sell property at 99 Shouyang Road, Jing'an District, Shanghai, with a gross floor area of 14,232.38 square meters and a total price of about 569 million yuan. The company said the transaction does not constitute a related-party transaction and does not require board or shareholder approval. If the contract is fulfilled smoothly, it will have a positive impact on revenue and net profit, but the company flagged risks including possible failure to collect part of the contract payment on time under installment terms and force majeure. This is not the first time Shibei Hi-Tech has sold property. On September 11, the company announced that Shibei Development plans to sell 921 underground parking spaces at 24, 99 Shouyang Road to its controlling shareholder, Shibei Group, with a gross floor area of 56,500 square meters and a total transaction amount of 276 million yuan. That major related-party transaction still requires shareholder approval and state-owned asset approval. Earlier in June, the board approved a proposal allowing wholly owned subsidiary Shanghai Kaichuang Enterprise Development and controlling subsidiary Shanghai Shibei Hi-Tech Yunmenghui Enterprise Development to sell properties on Kangning Road and Gonghexin Road in Jing'an District, along with 220 underground parking spaces, to Shanghai Kaicheng Holdings, covering about 34,968 square meters for a total of about 947 million yuan. The 2026 interim report shows Shibei Hi-Tech's first-half revenue was 1.31 billion yuan, up 117.67% year on year, driven by industrial property sales during the period. Industrial property sales revenue of 904 million yuan accounted for 69.04% of total revenue, while industrial park property leasing revenue was 230 million yuan. However, first-half net profit attributable to the parent remained negative at minus 71.1151 million yuan, with non-GAAP net profit of minus 57.8686 million yuan.