NovCharn Issara Development
Charn Issara has two timelines that are worth keeping separate. Charn Issara Development Public Company Limited itself was incorporated on 22 December 1989 and has been listed on the Stock Exchange of Thailand under ticker CI since 16 December 2002. The group also markets more than 70 years of experience, but that refers to the broader Charn Issara business heritage rather than the age of the current listed entity. CI combines residential development with hotel operations, commercial property and property management. For a buyer, the listed-company structure is useful because financial results, corporate disclosures and credit developments can be checked independently of the sales process.
A company name is not a recommendation. Check the project company, contract and selected unit before reservation.
Overview
Charn Issara has two timelines that are worth keeping separate. Charn Issara Development Public Company Limited itself was incorporated on 22 December 1989 and has been listed on the Stock Exchange of Thailand under ticker CI since 16 December 2002. The group also markets more than 70 years of experience, but that refers to the broader Charn Issara business heritage rather than the age of the current listed entity. CI combines residential development with hotel operations, commercial property and property management. For a buyer, the listed-company structure is useful because financial results, corporate disclosures and credit developments can be checked independently of the sales process.
Track record
The company was originally established around the development of Charn Issara Tower 2 on New Petchburi Road and later expanded into residential projects, resort property and hotels. One clearly documented recent development is The Issara Sathorn, whose official page states 270 condominium units, construction commencing in 2020 and completion around 2023. In 2025, Charn Issara also introduced two low-rise projects in the Rama 9–Krungthep Kreetha area: Issara Residence with 23 residences and Baan Issara with 68 houses. That record demonstrates experience across both high-rise condominiums and high-value landed housing, but buyers should still identify the exact contracting entity and the obligations attached to the specific project.
Segments and prices
The current Bangkok offering spans very different ticket sizes. On 24 August 2026, Charn Issara's official website showed The Issara Sathorn at roughly THB 5-25 million, Baan Issara Rama9–Krungthep Kreetha from THB 25 million, and Issara Residence Rama9–Krungthep Kreetha from THB 85 million. The latter comprises only 23 residences, while Baan Issara contains 68 houses. This places the newer low-rise launches firmly in the luxury and ultra-luxury bracket even though Charn Issara has historically operated across a broader residential range. Starting prices should be treated as reference points only; the final cost depends on the exact unit or house, size, specification, sales stage and current commercial terms.
Geography
Charn Issara is not a Bangkok-only developer. Its official project catalogue covers Bangkok, Chiang Mai, Pak Chong–Khao Yai, Phuket, and the Cha-Am–Hua Hin corridor. That mix of urban and resort markets also overlaps with the group's hotel operations. For buyers, the geographic spread shows experience across different property environments, but performance in a resort project should not be assumed to translate directly to a Bangkok condominium or landed community, where demand, liquidity and operating conditions can be very different.
Reliability and public record
Charn Issara's profile combines a strong disclosure trail with financial indicators that deserve close attention. Audited 2025 figures show total income of about THB 2.008 billion and a net loss attributable to the parent of roughly THB 263 million. For the first six months of 2026, reported revenue was approximately THB 872.65 million and net loss about THB 146.73 million. On 3 August 2026, TRIS Rating downgraded CI's issuer credit rating from BB to BB- while maintaining a Negative outlook. This does not mean that a particular development will fail to complete or transfer, but for an off-plan buyer it makes project financing, construction progress, the seller entity and contractual remedies for delay more important to verify.
What to verify
Due diligence on Charn Issara should be built around the specific project rather than the age of the brand. The group uses subsidiaries and related companies across its businesses, so buyers should reconcile the contractual seller, landowner, payment recipient and entity responsible for construction. For new landed projects in the Rama 9–Krungthep Kreetha area, the useful documents are the current land records, applicable approvals, actual construction schedule, contractual handover date and provisions governing refunds or termination after a material delay. For a completed condominium unit, the focus shifts to the exact unit's transfer status, eligibility for the intended purchaser, outstanding common-area charges and the full closing-cost statement. Given the BB- issuer rating and recent losses, buyers should also establish whether Charn Issara Development Public Company Limited is itself a party to or guarantor of the transaction, or whether obligations rest solely with a project company, and what contractual remedies apply if delivery falls outside the agreed timetable.
Projects in the NovAsia catalogue
This list is assembled from the project registry by the developer identifier; it is not a claim of a complete corporate portfolio.
ThailandBaan Issara Rama9–Krungthep Kreetha
ThailandIssara Residence Rama 9 – Krungthep Kreetha
Frequently asked questions
Is Charn Issara Development a listed company?
Yes. Charn Issara Development Public Company Limited has been listed on the Stock Exchange of Thailand under ticker CI since 16 December 2002. That gives buyers access to audited financial statements and corporate disclosures, although listing status alone does not guarantee performance under a particular property contract.
Why does Charn Issara refer to 70 years of experience if the company was incorporated in 1989?
They refer to different layers of the business history. The listed Charn Issara Development entity was incorporated on 22 December 1989, while the 70-plus-year claim relates to the wider group and family business heritage. For transaction due diligence, the relevant legal history is that of the entity actually signing the contract.
What price segment does Charn Issara currently target?
The current Bangkok range runs from roughly THB 5 million for selected The Issara Sathorn inventory to THB 85 million and above at Issara Residence Rama9–Krungthep Kreetha. Baan Issara Rama9–Krungthep Kreetha starts at around THB 25 million. The newest launches are therefore weighted toward luxury housing even though the historical portfolio has been broader.
What does the BB- rating mean for a property buyer?
It is an issuer credit rating, not a quality score for a particular house or condominium. On 3 August 2026, TRIS Rating downgraded CI from BB to BB- and maintained a Negative outlook. For a buyer, that is not a simple buy-or-avoid signal, but it is a reason to examine the project entity, financing structure, construction progress and contractual remedies more closely.
Are all Charn Issara projects contracted directly with the listed CI company?
Buyers should not assume that as a general rule. The group has historically developed projects through subsidiaries and related entities. Before reserving, check the full legal name of the seller and establish whether the listed Charn Issara Development company has any direct obligations in the transaction or whether the buyer is contracting solely with a project company.
Sources
Sources are named for independent checking. NovAsia does not publish outbound links.
- Stock Exchange of Thailand · Charn Issara Development Public Company Limited — CI Factsheet · 24.08.2026
- Charn Issara Development Public Company Limited · Charn Issara Development Milestone — incorporation and SET listing · 24.08.2026
- Charn Issara Development Public Company Limited · Charn Issara official catalogue — projects, locations and current starting prices · 24.08.2026
- Charn Issara Development Public Company Limited · The Issara Sathorn — project specifications and timeline · 24.08.2026
- Charn Issara Development Public Company Limited · Rama 9–Krungthep Kreetha launches — unit counts and starting prices · 24.08.2026
- Charn Issara Development Public Company Limited · Charn Issara Development financial highlights 2022–2026 · 24.08.2026
- Charn Issara Development Public Company Limited · 2026 AGM minutes — audited 2025 financial results · 24.08.2026
- MarketScreener / S&P Capital IQ · Charn Issara Development Q2 and first-half 2026 earnings · 24.08.2026
- Thai Bond Market Association / TRIS Rating · TRIS Rating downgrades CI to BB- with a Negative outlook, 3 August 2026 · 24.08.2026
- Charn Issara Development Public Company Limited · Charn Issara Development nature of business — revenue mix and property management · 24.08.2026