Pruksa Builds 60 iPlern Apartments, Launches Smart Warehouses
Pruksa Holding reported a 9% revenue increase to 7.55 billion baht in the first half of 2025, while expanding into smart warehouses and rental apartments with 60 iPlern properties planned across Thailand.
Pruksa Holding reported first-half 2025 total revenue of 7.549 billion baht, a 9% increase from the same period last year, with net profit of 197 million baht, up 120%. The company maintains strong financial health with a net debt-to-equity ratio of 0.23x, down from 0.28x at year-end 2024, an average borrowing cost of 2.5%, and liquidity exceeding 3x. A total credit facility of 17.2 billion baht supports future expansion into recurring-income businesses, and the company declared an interim dividend of 0.05 baht per share, to be paid on 11 September 2025.
The company is restructuring its portfolio by leveraging its real estate and construction strengths to expand into recurring-income businesses such as OMEGA Smart Warehouse and iPlern Branded Apartments, alongside its hospital operations, to drive its "Lifetime Well-Living" vision. OMEGA Smart Warehouse at Bang Na comprises approximately 217,000 square metres across three buildings with capacity for over 155,000 pallets of automated storage and is set to open in the fourth quarter of 2025 under a 20-year service contract with minimum revenue guarantees and profit-sharing terms.
The iPlern apartment rental business plans to develop 60 buildings with 4,300 units across six strategic locations, with rents ranging from 3,000 to 10,000 baht per month. Currently, six buildings are open with 100% occupancy, comprising two in Rangsit, three in Lam Luk Ka, and one in Bo Win. An additional 34 buildings are planned for the second half and 20 more in 2026, targeting a net yield of 7–8% using precast technology to accelerate construction and rental income.
Pruksa Real Estate reported first-half revenue of 5.942 billion baht, up 15% year-on-year, driven by a 66% increase in condominium transfers and a 10% rise in townhouse sales. For 2025, the company plans to launch six new projects worth 7.26 billion baht; four projects worth 4.06 billion baht have already opened, with two more worth 3.2 billion baht, including Chapter One Block 19 Ratchada and Chapter One Rise Tha Phra, planned for the second half. The company is running a "PRUKSA D-DAY SUPER SALE" campaign from 20–23 August 2025 and has introduced "PRUKSA PASS", allowing qualified customers to occupy units and pay directly to the project for up to 12 months before applying the payments toward the purchase price upon transfer.
