RML (Raimon Land Public Company Limited), Thailand’s premier luxury and ultra-luxury real estate developer, has announced a new corporate strategy together with an adjusted company structure to enhance competitiveness and market leadership. The company appointed Brenton Justin Mauriello as its new Chief Executive Officer (CEO) to succeed Korn Narongdej, who will continue to serve as RML’s Director and Chairman of the Executive Committee. Embracing his new role, Brenton pledges to preserve RML's esteemed status in Thailand's luxury and ultra-luxury real estate sector, whilst spearheading the company's transformation into a sustainable entity through a pioneering new strategy.
Korn Narongdej, Director and Chairman of the Executive Committee of RML, stated, “Over the past three years, under my stewardship as CEO, our team and I have laid a strong foundation at the national level, rebranded, adapted RML's DNA for the current era, and revamped our portfolio to clearly present our new identity. This includes not only ceasing development projects that straddle the gap between upscale and luxury segments but also concentrating on projects that not only distinctly belong in the ultra-luxury segment but also offer unique differentiation in the market. It is now time for someone else to take over from me and lead RML further onto the international stage.
"In 2024, RML introduced a new strategy focused on advancing our business steadily. This entailed refining our portfolio to concentrate on crafting genuinely authentic ultra-luxury projects that adhere to world-class standards, aimed at providing a revitalised and responsive experience for our discerning clientele. Furthermore, we aimed for international expansion through strategic alliances, enhancing our presence in foreign markets. Consequently, the RML board approved the appointment of Brenton Justin Mauriello as the new CEO, leveraging his extensive 25 years of leadership experience across the construction, architecture, and design industries, especially in luxury real estate. With his exceptional talent and expertise, particularly in the luxury property segment, he is committed to setting new industry standards and steering RML towards sustainable growth and success," added Korn.
Brenton Justin Mauriello, CEO of RML, said, "Following RML's new business strategy, my main responsibility as CEO is to strengthen and lead RML's business to an international level, to foster sustainable growth. As a leader in the development of luxury and ultra-luxury real estate in Thailand, RML aims to implement four key strategies to enhance the company’s competitive edge."
- Strategy 1: Enhance organisational effectiveness: Adjust the structure and internal processes of the organisation to align with the business plan.
- Strategy 2: Improve investment efficiency to ensure financial stability: Prioritise investments that align with financial stability and adjust investment patterns to align with the company's long-term strategy and goals.
- Strategy 3: Maintain a leadership position in the real estate market at both luxury and ultra-luxury levels: Develop new projects that set new standards in the industry, differentiate from competitors in the market, and target top-notch customers, such as riverside projects, downtown projects, resorts, etc.
- Strategy 4: Maintain strong business performance: Establish financial balance in the short and long term, and reduce unnecessary financial costs to ensure a strong financial status.
The four key strategies are set to execute in four steps, as follows:
- Step 1: Strengthen financial capabilities to maximise returns for the company.
- Step 2: Seek opportunities to create additional value by generating awareness and revenue from company projects, including recurring revenue and sales revenue from projects such as OCC, ultra-luxury riverside projects, and others.
- Step 3: Establish a Private Equity Trust (PE Trust) to invest in upcoming projects, attracting investors to participate in the fund and providing maximum returns to shareholders of the company.
- Step 4: Expand business internationally and seek additional expertise partnerships to become a leader in the luxury and ultra-luxury real estate market in Thailand, as well as in the Southeast Asian region."
"With the strategic turnaround plan, RML will generate recurring profit and increase the share price from 2026 onward. This expansion into high-opportunity markets, coupled with new ultra-luxury projects for ultra-high-net-worth clients, positions us for profitable growth," added Brenton.