Message from the Chairman

We have the vision of U City as the leading real estate company in Thailand and the region. The Company has undergone transformative changes, both at home and abroad, and reborn as a global property portfolio manager engaged in a multitude of real estate sectors. We are expanding continuously by strengthening the hotel business networks, both in Europe and Asia. This laid the foundation for sustainable growth through striving of opportunity and risk diversification. It is the challenging long-term plan that involves businesses in many countries with specific rules and regulation, and a complex exchange rates environment. However, the Company did not give up but continue to carry out the plan relentlessly. The acquisition of hotels in Germany and Switzerland last year was demonstrated our commitment.

Another pride of U City for the year 2019 was the success of moving forward the development of the State property known as “Rong Phasi Roi Chak Sam”. It was a continuous effort of more than 14 years of the company to restore and transform this historical landmark into a luxury riverside hotel, with an aim to woo more upscale travelers while adding value for tourism.

The Unicorn Project, a mixed-use building with more than 120,000 sqm gross floor area, adjacent to Phayathai BTS Station and Airport Rail Link stations, continues as planned and will be opened and contribute income to U City by the year 2022. Verso International School, a joint venture between U City and the Hong Kong partner, will be up and run within this year.

Along with the intention to continuously generate returns, U City is committed to conducting business with responsibility to all stakeholders. We place great importance to environment, business ethics and good corporate governance. These components are an important part of making us growth sustainably.

In this eventful year, on behalf of the Board of Directors, I would like to extend my deep gratitude to our shareholders, business partners, financial institutions, government agencies, and all stakeholders, in supporting us, and having trust and confidence in me and U City. Also, I would like to thank our directors, management and staff for their dedication, professionalism, and of being a crucial part in the success of the Company.

Mr. Keeree Kanjanapas

Chairman of the Board of Directors

U City Public Company Limited