Company's Business

The Company has revenue from property sales including land and house subdivision and condominium units which represent 70-80% of total revenue. The revenue from rental and services provided in office retails space of Charn Issara Tower and Charn Issara Tower 2 office and shopping center which earn around 3-5% of total revenue. The hotel operation contributes 20-25% while the remaining 5% comes from other revenue such as service fees for utilities in property project, interest income and others revenue.

  1. Property Development for sale.

    The Company has a total of 7 completed project developments of which part of those are in the process of transfer to customer and the remaining part are stock for sale. There are 9 hotel projects making up a total of 16 projects. Completed projects consist of 6 condominium projects and 1 town home.



    •   1.1 The Issara Ladprao is a large scale residential condominium on 5 Rai land plot on Ladprao road between Ladprao Soi 12 and Ladprao Soi 14. The Baht 2,700 million project comprise of a 47-storey building of 561 units. The project is located just 300 meters away from Ladprao MRT Station. The Company had launched and started selling in the third quarter of 2007. At present more than 98% of sellable space have been sold and there is only 4 units left which are expected to be sold out in 2017. This project is developed by CIN Estate Co., Ltd. which is a subsidiary company.
           
        1.2 ISSI Condo Suksawat, the latest brand of Charn Issara Group on Suksawat road nearby the planned BTS station, purple line. The 24-storey building on 4 rai site offer units ranging from 21 square meters to 55 square meters under the price range of around Baht 1 million. The project is packed with common facilities such as a large lobby, a luxury swimming pool, and sky garden with fresh breeze up the rooftop of the building. A superior security system features key card with an absolute control of entry and exit to and from the building. The project has been so far sold out around 80%. The construction which is undertaken by Italian Thai Development PLC. The project is developed by CIN Estate Co., Ltd. which is a subsidiary company.
           
        1.3 The Issara Village is a new concept townhome allowing living in natural surroundings. There are nice garden and swimming pool in tranquil environment. The limited 35 units of tuck away with exceptionally privacy in a functional building where pets are welcome. Issara Village is located on Petchkasem Road Km. mark 212 close to Cha- Am intersection. The 4 Rais site is a mere 300 meters walk to the beach surrounded by 5 star amenities of established hotel brand such as Viranda, Springfield at Sea, Regent and 5 minutes’ drive to Palm Hill Golf Course. The Baht 160 million project is ready for customers both Thai and foreigners. The project was launched in December 2010 and only 5 units are left in stock. This project is developed by a subsidiary company, Charn Issara Vipaphol Co., Ltd.
           
       

      1.4 Baan Thew Talay Phase 1 (Aqua Marine) Project is a baht 2,000 million villa style residential condominium project on the white, clean sandy beach of Cha-am Huahin is a joint efforts of two renowned companies, Charn Issara Development, a long standing, experienced property developer and Saha Group who is renowned for lifestyle creation to develop a residential project and make dream come true. Fully equipped with facilities targeting B+ to A market segment, the 13 rai site of 57 meters beachfront is only 10 minute drive from Hua Hin. A group of row rise buildings, 4 of four-storey buildings on the beach front and 1 fifteen-storey building further in from the beach giving a total of 270 units of 1-3 bedrooms with floor space of 44-193 sq.m. available at the price range of Baht 2.9-40 million. Every unit carries a unique character of being surrounded by lush green landscape while the sea view is enhanced in a functional space. The architecture is conceived on Natural Contemporary concept by the renowned Habita Architect. Over 90% of this Baht 2,000 million Baan Thew Talay has been sold. The project has been handed over to customers since the 4th quarter of 2014, while only 10% remaining unsold.

      The project has won two international property awards on Best Condominium and Best Leisure Development of Thailand. The project is developed by a subsidiary company, Issara United Co., Ltd.

           
       

      1.5 Baan Thew Talay Phase 2 (Blue Sapphire) A luxurious new beach front lifestyle with distinctive detailed, well thought out design. The function and useful space has been combined with an aim to fill in happiness of owner’s family who own the utmost luxury residence by the beach for a well balance lifestyle. On the site of 15 rai there are 2 four-storey buildings and 1 fifteen-storey building with unit type ranging from 35-151 square meters of 1-3 bedrooms of total 421 units combined. Starting price is baht 2.4 Million.

      The building and its vicinity is outstanding with Aqua Contemporary style by the renowned Habita Architect. Inspired by water, the architecture shows unique water features such as lotus pond and freeform swimming pool which are well integrated into the lush greenery of the landscape. The 1,800-million-baht project which is sold by more than 60% is expected to be completed by the end of 2015 and certain of which have been ownership transferred. This project is developed by a subsidiary company, Issara United Co., Ltd.

           
          1.6 BLU project is the subsequent residential condominium project following the two quality projects namely Baan Thew Talay Aquamarine and Blue Sapphire, the best condominium in Thailand which won awards for two consecutive years from the International Property Awards. Developed by the Issara United, the outstanding landscape by Cha Am beach was conceived from the lifestyle concept of living on atoll similar to Maldives. Featuring a charming tropical seaside living, the first step on BLU will make you feel the stylist luxury yet humble entrance architecture amongst trees and shrubs connecting entrance and lobby with a view angle open up to the enormous swimming pool surrounding the building. The 21-storey building on 7 rai of beach front site house 30-60 square meters 1-2 bedrooms with a starting price of only Baht 1.89 million is expected to be completed by December 2016. The project has been so far sold out around 40% and in the process of transfer to customers. This project is developed by Issara United which is a subsidiary company.
           
         

      1.7 Issara Collection Sathorn project is a luxury 7-storey residential condominium packed with premium qualifications on the golden location of Sathorn road. This is another outstanding development of Issara Group who won awards in property developments both in Bangkok and resort destinations of this country. The limited 33 units consist of 2-3 bedrooms and 3 bedrooms duplex. The Issara Collection Sathorn is ideal for family living with spacious space of European kitchen and Thai kitchen in some units, high ceiling clearance exceeding generally accepted standard and usable space exceeding 100 square meters in each unit contribute to the homey atmosphere for resident. Luxury lifestyle is fulfilled in some units with private elevator and individual interior decorations. The project is valued at 800 million Baht Its construction has been completed since December 2016 and transfer to customers will take effect in the first quarter of 2017.

      This project is undertaken by Charn Issara Vipaphol Co., Ltd. which is subsidiary company.

      There are 9 projects of property development for sell and hotels consisting of 2 single house projects, 4 resorts, 1 condominium and 2 hotel projects as follow:-

           
          1.8 Issara Residence Rama 9, The New Symphony of Freedom. The project is located on Rama Nine on Soi Rama Nine 13 road in the city center close to entrance and exit of the expressway and the future MRT orange line. Designed by a leading architect, the 3-storey house of modern tropical style with usable space of up to 834 Sq.M. will deliver a super luxury life experience and convenient for every stage of lifestyle. The design provides up to the maximum of 8 car parks including elevator and swimming pool. The Baht 1,820 million project has only limited 20 units with starting price of Baht 80 million and 30% has been sold. This project is undertaken by Charn Issara Development PCL and transfer of completed units to customers is expected in the first quarter of 2018.
           
       

      1.9 Baan Sita Wan project at Pakchong, Nakorn Ratchasima is a residential resort amongst natural surroundings. The 27-rai project site consists of 2- and 3-bedroom house designed by Habita and incorporates construction innovation from SCG Heim of Japan resulting in a structurally sound housing product which is also environmentally friendly. The house features internal air circulation enabling a clean and dust free living and energy saving technology such as heat insulation in both external wall and under the roof. There is also a spacious moon terrace built into each house. There are a total of 52 houses with total project value of approximately Baht 800 million.

      Baan Sita Wan is a project developed by Charn Issara Development PCL. Currently, the construction is underway and the ownership transfer to prospective buyers is worth approximately 30%

           
          1.10 Baan Issara Bangna. The project is located on a plot of 24 rai of land close to Mega Bangna with a combination of 2 and 3-storey detached house with 332.5 to 697 Sq.M. of usable area. Surrounded by greenery, the design is a heritage from one generation to the next by a leading architect with full functions. Project facilities include a generous clubhouse, large swimming pool, modern fitness and amphitheater to bond the family relation, jogging track around the estate and lush greenery, starting price of Baht 3.8 million. The Baht 2,600 million project consist of 43 units of single detached house. A show house is expected to be completed around the end of 2017. This project is developed by CIN Estate Co.,Ltd. which is a subsidiary company.
           
          1.11 Baba Beach Club Huahin. This project is a luxury resort on Huahin – Cha Am beach and is part of the Thew Talay Estate pool villa which is designed and developed by Issara United Co.,Ltd., one of the subsidiary of Charn Issara Development (PCL), Thailand’s leading developer. Baba Beach Club Huahin has outstanding features in its location and design which set itself apart from general resorts. The Neo Colonial Style house of unique design and functions with generous common area come with rental program of good return on investment under the management of Sripanwa hotel Phuket who has won many acclaimed awards worldwide with over 10-year experience. The 279-525 Sq.M. 2 storey house with swimming pool on 111-197 Sq.W. of land plot at Baba Beach Club Hua Hin is expected to be completed within mid 2017. The approximately Baht 300 million project consists of 7 villas of which 60% have been sold. It is expected that transfer to customers can be made within 2018.
           
        1.12 Sri panwa Project: A Baht 5,000 million vacation home and hotel on 80 rai on Cape Panwa, Phuket. The project site is surrounded by sea view and islands. Target market for Sri panwa are foreigners and Thais who seek resort home on the world’s renown resort destination of Phuket. In the year 2013 the Company has sold the hotel part of Sri panwa which was consisting of 21 rai 55 square wah of land with buildings including pool villas, family suite and luxury villa total 38 units and 7 units of service apartment together with its facilities related to the operation of Sri panwa hotel to Sri panwa Property Fund. The Company, in turn, hold 30% of the units sold by the Property Fund and lease back Sri panwa Hotel for 15 years of operation with agreed fix rental. The Sripanwa Hotel Property Fund had been converted into trust under the name of Sripanwa Hospitality Real Estate Investment Trust in December 2016. There was a development of an additional 30 pool suites and X29 residential villa for injection into the trust back in December 2016 with an approximate value of Baht 1,300 million. The construction of phase 4 which consist of 6 residential villas is ongoing with 1 villa completed and sold with a value of over Baht 340 million. It is expected the transfer of that villa sold can be made in 2018.
           
          1.13 Issara Chiangmai, located in Amphur Muang, Chiang Mai province, the Issara Chiang Mai project is a luxury residential condominium consisting of 4 seven-storey buildings with a total 448 units. Each unit is designed for maximum function to satisfy everyone in the family. Unit sizes range from 35-70 square meters of 1-2 bedrooms at the starting price of Baht 1.89 million. There are numerous facilities namely large lounge, library, Jacuzzi, freeform swimming pool, an exercise room, jogging track, parking and 24 hours security services. The project is valued at 1,700 million Baht.. The 265 units of phase 1 with approximate value of Baht 660 million is under construction and expected to be completed and handed over to customers around the end of 2017. This project is developed by a subsidiary company, Charn Issara Vipaphol Co., Ltd.
           
          1.14 Baba Beach Club Huahin is a hotel project located within the same area as the luxury villas on Huahin-Cha Am beach as part of the Baht 1,800 million Thew Talay Estate project, pool villa and pool suite. The project is now under construction on the beach front part of the property and is expected to be completed and operational by the end of 2017. The hotel part behind will be constructed later once the beach club is underway. This project is undertaken by Issara United Co.,Ltd. which is a subsidiary.
           
          1.15 Baba Beach Club Phuket, composed of 2 project: the 42-rai project is located in Natai beach, Kokkroy sub-district, Takua Thung district, Phang Nga province. The site features natural beachfront beauty embraced by a coconut plantation and shaded with native trees. BABA BEACH CLUB PHUKET consists of 6 five-bedroom beachfront villas and the sales gallery is now open featuring both POOL SUITE and BEACHFRONT VILLA show units. Some parts of the land are reserved for a hotel construction featuring a beach club, beachfront villas, pool villas and pool suites embraced by a natural garden landscape and an oversize swimming pool. The project is due to be operational by 2016 to meet the surging demand of tourists. There are 20 % sales on Villas and the hotel construction is underway with target completion in the end of 2017. The project is valued at 3,000million Baht and undertaken by Issara Junfa Co., Ltd. which is subsidiary company.

  2. Office building and retails space for sale, long term lease and rent: Charn Issara Tower on Rama 4 and Charn Issara Tower 2 on New Petchburi Road. The Company manage a total of 34,513.29 sq.m. of lettable space which comprise of the Company’s space of 3,825.61 sq.m. and 30,687.68 sq.m. of contracted management for Bangkok Commercial Property Fund. As of year ended 2016 occupancy rate was 90% of total rentable space with leading tenants such as Siemens, and Samsung Life Insurance for instance.
  3. Hotel business: Charn Issara Residence Co.,Ltd. which is a subsidiary company has embarked on a hotel business at Sri panwa, Phuket province in the 3rd quarter of the fiscal year 2006. The hotel is categorized as a boutique hotel under the brand of Sri panwa. Started with 11 pool villas the hotel was granted a hotel operation license for the operation of 18 rooms and later another 23 units of pool villa in phase 3 have been added on. The total facilities were completed in the year 2009 and was well receptive by both Thai and foreign guests. Later in the year 2012 the Company has sold the hotel part which consists of 21 rai 55 square wah of land and buildings including pool villa, family suite, 38 units of luxury villa, and 7 units of service apartment together with all related hotel facilities to Sri panwa Property Fund while the Company hold 30% of the units issued by the Fund and lease back Sri panwa hotel for 15 years of operation under the agreed fix rental. The Sri panwa Hotel Property Fund had been converted into trust under the name of Sri panwa Hospitality Real Estate Investment Trust in December 2016. In addition, there was a development of an additional 30 pool suites and X29 residential villa for injection into the trust back in December 2016 with an approximate value of Baht 1,300 million.
  4. Office building management, management of condominium juristic person/housing juristic person and property project management: the Company was appointed by Bangkok Commercial Property Fund as Property manager and Assets manager for the Fund’s assets including office suites in Charn Issara Tower and Charn Issara Tower 2 totaling 30,687.68 sq.m. for a period of 10 years. In addition, the company has been hired by International Resource Development Co., Ltd. to manage its financial and accounting affairs as well as its development projects.

    For the management of condominium juristic person or housing juristic person, the company and its subsidiaries manage condominium and housing estate which the Company and its subsidiary develop such as [email protected] Sukhumvit, The Issara Ladprao and resort condominium Thew Talay Estate for instance.

The company has investments in the following subsidiaries associated companies and Property funds as follow:-

Company Names Total paid registered
Capital (million)
Total shares Par value
(Baht)
Shareholding
Percentage
Charn Issara Residence Co., Ltd. 140.00 1,195,000 100 85.364
C.I.N. Estate Co., Ltd. 250.00 1,499,996 100 60.000
Charn Issara Vipaphol Co., Ltd. 100.00 499,996 100 50.000
Issara United Co., Ltd. 80.00 399,996 100 50.000
Sri panwa Management Co.,Ltd. 30.0 3,000,000 10 85.361
Issara Junfa Co., Ltd. 420.00 2,940,000 100 70.00
Issara United Development CO., Ltd. 157.50 1,799,996 100 50.00
International Resources Development Co., Ltd. 1,757.95 2,810,695 100 15.9889
Charn Issara Reit Management Co.,Ltd. 10.00 1,000,000 10 100.00
Hida Grill Co., Ltd. 13.00 47,060 100 36.20
Bangkok Commercial Property Fund 1,000.00 33,300,000 10 33.300
Sri panwa Hospitality Real Estate Investment Trust 3,156.80 27,906,352 11.314 10.000


There are a total of 10 subsidiary companies and related companies as follows:-

  1. Charn Issara Residence Co., Ltd. ddevelops property for sale. It is currently developing a 1,600 million baht on 80 rai and villa project known as “Sri panwa” Phase 3 and 4 a 1,500 and 1,400 million baht on approximately 15 Rais of land at Cape Panwa in Phuket. The construction of 3 phases has been completed. There are remaining 7 units of residence villas under development of which 2 have been completed and had been sold. Of those 7 units 5 have not been built yet. In 2012 the Company has sold the hotel part which consists of 21 rai 55 square wah of land and buildings including pool villa, family suite, 38 units of luxury villa, and 7 units of service apartment together with all related hotel facilities to Sri panwa Property Fund while the Company hold 30% of the units issued by the Fund and lease back Sri panwa hotel for 15 years of operation under the agreed fix rental. The Company has developed a new hotel phase which will be an additional 30 rooms of pool suite room type to meet the increasing demand of tourists travelling to Phuket. The Construction to be completed and operational by the end of year 2015. The Sri panwa Hotel Property Fund had been converted into trust under the name of Sripanwa Hospitality Real Estate Investment Trust in December 2016. There was a development of an additional 30 pool suites and X29 residential villa for injection into the trust back in December 2016 with an approximate value of Baht 1,300 million. The construction of phase 4 which consist of 6 residential villas is ongoing with 1 villa completed and sold with a value of over Baht 340 million. It is expected the transfer of that villa sold can be made in 2018.
  2. C.I.N. Estate Co., Ltd. is engage in property development for sale. The company had been completed of development for The Issara Ladprao which is a large scale condominium on 5 rais site between ladproao Soi 12 and Soi 14, The Baht 2,500 million project comprises of a 47-storey of 561 units which locate only 300 meters away from Ladprao MRTA. Currently the project is under transfer to customers and it is expected that sale of remaining units can be closed by 2014. Early in the year 2013 there was a launch of ISSI Condo Suksawat, the latest brand of Charn Issara Group on Suksawat road nearby the planned BTS station, purple line. The 24-storey building on 4 rai site offer units ranging from 21 square meters to 55 square meters under the price range of around Baht 1 million. The project is packed with common facilities such as a large lobby, a luxury swimming pool, and sky garden with fresh breeze op the rooftop of the building. A superior security system features key card with an absolute control of entry and exit to and from the building. The project was launched in early 2013 with good feedback. Currently sales exceed 70% and the construction which is undertaken by Italian Thai Development PLC. The project was completed and has been ownership transferred since the fourth quarter of 2015. In additional the year 2016, the Company was launched “Baan Issara Bangna” is located on a plot of 24 rai of land close to Mega Bangna with a combination of 2 and 3-storey detached house with 332.5 to 697 Sq.M. of usable area. Surrounded by greenery, the design is a heritage from one generation to the next by a leading architect with full functions. Project facilities include a generous clubhouse, large swimming pool, modern fitness and amphitheater to bond the family relation, jogging track around the estate and lush greenery, starting price of Baht 3.8 million. A show house is under the construction.
  3. Charn Issara Vipaphol Co., Ltd. is engage in property development for sale. There are two current developments and 1 completed namely, the townhome, Issara Village. A new concept townhome allowing you to live close to the nature, surrounded by a beautiful garden and swimming pool. The limited 35 units is privately tranquil with highlight on its functional design in natural surroundings. For pet lovers, pet is allowed at Issara Village. The 4 rai site on Petchkasem road Km mark 212 is surrounded by many 5-star hotels such as Viranda Resort & Spa, Springfield at Sea, Regent and is only 5 minute drive from Palm Hills Golf Course. This Baht 160 project is now ready for moving in with the remaining 4 units. The second project is The Issara Chiang Mai which is a luxury, 570 condominium units in 4 of seven-storey buildings. Each unit was well designed for highest functional space allowing plenty of rooms for enjoyable experience of every family member. A selection can be made from 35-70 square meters of 1-2 bedrooms. At the starting price of Baht 1.89 million, the unit comes with a variety of facilities, be a large hall, library, Jacuzzi, a freeform swimming pool, an exercise room, a jogging track, a car parking lots, and 24 hours security. The latest project is the Issara Collection Sathorn project, a luxury 7-storey residential condominium packed with premium qualifications on the golden location of Sathorn road. This is another outstanding development of Issara Group who won awards in property developments both in Bangkok and resort destinations of this country. The limited 33 units consist of 2-3 bedrooms and 3 bedrooms duplex. The Issara Collection Sathorn is ideal for family living with spacious space of European kitchen and Thai kitchen in some units, high ceiling clearance exceeding generally accepted standard and usable space exceeding 100 square meters in each unit contribute to the homey atmosphere for resident. Luxury lifestyle is fulfilled in some units with private elevator and individual interior decorations. The project is expected ownership transfer in quarter 1/2017
  4. Issara United Company Limited is a joint venture between Charn Issara Development PCL., Saha Pattanapibul PLC. And ICC International PLC all of whom are well recognized. The joint venture is for the purpose of property development for sale. Currently the Issara United to be completed develop 3 projects located on a site at Km. mark 209 Amphur Cha Am Baan Thew Talay Phase 1 (Aqua Marine) is a baht 2,000 million villa style residential condominium project fully equipped with facilities targeting B+ to A market segment. The 13 rai site of 57 meters beachfront is only 10-minute drive from Hua Hin. Low rise buildings, 4 of four-storey buildings and 1 fifteen-storey building are erected diagonally to the beach for maximum sea view. There are 270 units of 1-3 bedrooms with floor space of 44-193 sq.m. available at the price range of Baht 2.9-40 million. Every unit carries a unique character of being surrounded by lush green landscape while opening up for the sea view. The architecture is conceived on Natural Contemporary concept by the renowned Habita Architect. The project is won 2 international property awards from International Property Awards being Best Condominium and Best Leisure Development of Thailand. This project has been handed over to customer since the 4th quarter of 2014. The second project is Baan Thew Talay Phase 2 (Blue Sapphire), the site of 15 rai by the beach house 2 four-storey buildings and fifteen-storey building with unit type ranging from 36-159 square meters of 13 bedrooms total 421 units combined. The design in Aqua Contemporary style by the renowned Habita Architect is inspired by water resulting in unique water feature such as lotus pond and free form swimming pool which are well integrated into the lush greenery of the landscape opening up sea view in the natural surrounding making up a natural ambience. The project is expected to be completed by 2015. The third project is BLU, the subsequent residential condominium project following the two quality projects namely Baan Thew Talay Aquamarine and Blue Sapphire, the best condominium in Thailand which won awards for two consecutive years from the International Property Awards. Developed by the Issara United, the outstanding landscape by Cha Am beach was conceived from the lifestyle concept of living on atoll similar to Maldives. Featuring a charming tropical seaside living, the first step on BLU will make you feel the stylist luxury yet humble entrance architecture amongst trees and shrubs connecting entrance and lobby with a view angle open up to the enormous swimming pool surrounding the building. The 21-storey building on 7 rai of beach front site house 30-60 square meters 1-2 bedrooms with a starting price of only Baht 1.89 million Currently, this project to be complete the construction and has been handed over to customers since the last year 2016. For the project is developing such as Baba Beach Club Hua Hin is a luxury resort on Huahin – Cha Am beach and is part of the Thew Talay Estate pool villa which is designed and developed by Issara United Co.,Ltd., one of the subsidiary of Charn Issara Development (PCL), Thailand’s leading developer. Baba Beach Club Huahin has outstanding features in its location and design which set itself apart from general resorts. The Neo Colonial Style house of unique design and functions with generous common area come with rental program of good return on investment under the management of Sripanwa hotel Phuket who has won many acclaimed awards worldwide with over 10-year experience. The 279-525 Sq.M. 2 storey house with swimming pool on 111-197 Sq.W. of land plot at Baba Beach Club Hua Hin is expected to be completed within mid 2017.
  5. Sri panwa Management Co., Ltd. is engage in hotel management which established in 2014 for rent back Sri panwa hotel in the part of 1 and 2 from Sri panwa Hospitality Real Estate Investment Turst to manage in the next 15 years by fixed rental as per contract. The Company which is a subsidiary of Charn Issara Residence Co., Ltd. holds 100% shares.
  6. Issara United Development Co., Ltd., likewise Issara United Co., Ltd., is a collaboration between Charn Issara Development PLC, the legendary Saha Pathanapibul PLC and ICC International Co., Ltd. that aims to conduct business in hospitality. The first project will see a construction of an ultra-luxury hotel on the pristine stretch of Cha Am – Hua Hin, Phetchaburi. The Company is now in construction stage for the beach front hotel.
  7. Issara Junfa Co., Ltd. is a joint venture between Charn Issara Development PLC and China’s Junfa Real Estate Co., Ltd. to develop a mix-used project under the name “BABA BEAH CLUB PHUKET”. Situated in Natai Beach, Kokkroy Sub-distrcit, Takua Tung Disctrict, Phang Nga Province., the project sprawls over 42 rais of pristine beaches and lush landscapes, embraced by a coconut plantation and shaded by native trees. BABA BEACH CLUB PHUKET consists of 6 five-bedroom beachfront villas and the sales gallery is now open featuring both POOL SUITE and BEACHFRONT VILLA show units. Some parts of the land are reserved for a hotel construction featuring a beach club, beachfront villas, pool villas and pool suites embraced by a natural garden landscape and an expansive swimming pool. The project is due to be operational by 2016 to meet the surging demand of tourists.
  8. Charn Issara Reit Management Co., Ltd. Is a trust manager for the Sri panwa Hospitality Real Estate Investment Trust approximately Baht 3,300 million.
  9. International Resource Development Co., Ltd. Is develops property for sale. Its land bank of 923 rais is located near the Suvarnabhumi Airport. Part of the land bank of some 400 rais has been sold to King Power Group who develop the land into the largest Polo Course in Thailand. In addition there will be golf course and residential development as well.
  10. Hida Grill Co., Ltd. is a joint venture between Charn Issara Development PCL and Honmono Restaurant Co., Ltd. It’s carry on the business for restaurant which established on June 5, 2014. This restaurant is in Charn Issara Tower II building on New Petchburi road.

Company Groups Structure as of December 31, 2016



The Company’s revenue can be classified as follow:

(Unit : Million Baht)

Type of Revenues 2016 2015 2014 2013
Revenue % Revenue % Revenue % Revenue %
Revenue from sales 1,908.4 61.8 2,040.7 74.4 1091.6 66.4 545.9 29.0
Rental and service income 79.7 2.6 77.9 2.8 81.3 5.0 93.3 4.9
Revenue from hotel 530.6 17.2 465.7 17.0 414.4 25.2 411.7 21.8
Gain on Sale of Sri panwa Hotel 429.4 13.9 - - - - 767.1 40.7
Management fee income 73.8 2.4 63.2 2.3 5.3 0.3 4.9 0.3
Other incomes 65.5 2.1 96.2 3.5 51.4 3.2 62.4 3.3
Total Revenues 3,087.4 100.0 2,743.7 100 1,644.0 100 1,885.4 100.0

Business objective

The Company emphasize in maintaining quality of housing, resort, residential condominium, 6 stars hotel, office building and quality of services which is consider a success factor in past years. The company wishes to pursue the development of residential housing project, residential condominium, resort home and hotel business as it sees the continued growing trend in residential type of development. While the residential development can be in low rise and high rise at the price level which allow profit the office rental is however not feasible for the investment in new building. The Company is therefore not expanding its office rental business but concentrate in expanding the residential business with a target to develop not too large projects in tourist destinations such as Hua Hin, Cha Am, Chiang Mai or Phuket and urban area where transportation is convenient. Target audience for those development are working age with moderate to high income who has individual lifestyle.