U City Public Company Limited (formerly Natural Park Public Company Limited) was incorporated on 23 June 1988 to operate in the business of full-scale real estate development for rent, service, sale and administration. The Company was listed in the Stock Exchange of Thailand on 15 February 1993 and registered its conversion to a public company on 3 February 1994.
The Company has gone through a period of business growth and economic crisis since its inception to the present. At present, the Company has been trusted by shareholders and investors, which can be confirmed by the success of the fund raising over the past period.
The major change was taking place in 2015 when BTS Group Holdings Public Company Limited (BTSG) or BTS Group had acquired 35.64% of the Company’s total paid-up shares via share swap transaction which the Company acquired all ordinary shares of BTS Assets Company Limited (“BTSA”) and Kamkoong Property Company Limited (“Kamkoong”), a subsidiary of the BTS Group on April 20, 2015. The Company has issued new ordinary shares representing 35.64% of the total issued shares of the Company and the Warrants at no cost as the consideration required for the acquisition of the businesses. And then, the Company has registered the amendment to the Memorandum of Association of the Company to be in line with the change of the Company’s name and change of the Company’s seal from “Natural Park Public Company Limited” to “U City Public Company Limited” including the Company’s trading symbol from “NPARK” to “U” with the Stock Exchange of Thailand, to be in line with the change of the Company’s name.
At the present, the Company operates real estate development business in various types comprising:
REAL ESTATE DEVELOPMENT FOR RENT, SERVICE AND HOTEL BUSINESS IN BOTH DOMESTIC AND INTERNATIONAL.
- Avani Khon Kaen Hotel and Convention Centre
- Anantara Chiang Mai Resort and Spa
- Eastin Grand Sathorn Bangkok
Office Building for rent
- 33 Gracechurch Street, City of London, United Kingdom
REAL ESTATE DEVELOPMENT FOR SALE
- Park Ramindra Project – a low-rise condominium with 206 units of the 8-storey building.
- Park Aran Boulevard Project – Shop house / commercial building at Sa Kaeo Province
- Anantara Chiangmai Serviced Suites – a low-rise 8-storey building condominium with 44 units of the. (A joint venture project with Hua Hin Resources Company Limited, a subsidiary of Minor International Group)
Moreover, the Company has new projects under development as follows,
- Phayathai Project – a mixed use complex building with office space, hotel and retail space. Construction of the project is scheduled to start in Q4 2016.
- Mo-chit Project – a mixed use complex building with office space and retail space. Construction of the project is scheduled to start in 2017.
TARGETS AND STRATEGIES IN BUSINESS OPERATION
Our vision is to be the leading developer of innovative community-based solutions. The Company continues its “Development and Management for Sustainable Profitability” strategy, which has been implemented since 2012. Its key tenets are as follows:
- To do land development and potential projects for maximum benefit
- To ensure sustainable growth in revenue from corporate assets
- To prepare and adapt to the changing trends
These will ensure that business operations should run stably and generate sustainable revenue despite changes to the business environment and competition in the market. The company looks for opportunities to invest or develop new property projects in attractive business locations, which have high potential for value accretive development. The Company may also seek to co-operate with strong business partners in joint investments that leverage the strengths of each partner and mitigates development-related risks.
Short term goals
- To stabilize the Company’s financial status and on acquiring assets that create immediate, recurring income such as office buildings for rent, commercial spaces for rent and hotel businesses.
- To focus on developing new projects on existing land bank, such as Phayathai and Mo-Chit for their long term value potential.
- To acquire potential land bank for future development projects, particularly in attractive locations near mass transit lines.
Long term goal
The Company remains focused on increasing revenue from real estate development for rent, service and hotel and real estate development for sale projects on potential land, by growing its market share in the real estate industry. The Company plans to achieve higher annual revenues, by substantially increasing the number of recurring income assets in its portfolio and developing real estate projects for sale. These can be achieved by either solely developing greenfield projects or jointly by seeking business partners that have the added benefit of unlocking synergies and mitigating development-related.