NovAsia

Proud Real Estate

The useful starting point for PROUD is 2019 rather than simply quoting the age of its listed legal entity. The company now known as Proud Real Estate took its present name on 13 May 2019, after previously operating as Focus Development and Construction. Its shares trade on the Stock Exchange of Thailand under ticker PROUD, while the current residential business spans Bangkok, Hua Hin and Phuket with an emphasis on higher-priced urban homes, condominiums and hotel-branded residences. As of 5 August 2026, Jaraspim, Proudputh and Pasu Liptapanlop together held 52.38% of the company. For a buyer, the practical advantage of the listing is access to shareholder, financial and corporate disclosures that can be checked independently of sales material.

Phuket, Bangkok · 1 linked project

A company name is not a recommendation. Check the project company, contract and selected unit before reservation.

Overview

The useful starting point for PROUD is 2019 rather than simply quoting the age of its listed legal entity. The company now known as Proud Real Estate took its present name on 13 May 2019, after previously operating as Focus Development and Construction. Its shares trade on the Stock Exchange of Thailand under ticker PROUD, while the current residential business spans Bangkok, Hua Hin and Phuket with an emphasis on higher-priced urban homes, condominiums and hotel-branded residences. As of 5 August 2026, Jaraspim, Proudputh and Pasu Liptapanlop together held 52.38% of the company. For a buyer, the practical advantage of the listing is access to shareholder, financial and corporate disclosures that can be checked independently of sales material.

Track record

The listed entity was incorporated on 30 March 1989 and joined the SET on 5 October 2004, but it operated under earlier names and had a construction background before becoming Proud Real Estate in 2019. The current residential track record has been built since that change. ROMM Convent in the Sathorn-Silom area opened for presales in February 2023 with a stated project value of about THB 4.15 billion, and unit transfers began in May 2026. VI Ari is an unusually small six-home development in central Ari, while The Residences at InterContinental Phuket Resort was launched in October 2025 with 111 residences and stated investment above THB 2.5 billion. PROUD had already developed InterContinental Residences Hua Hin, so its move into an InterContinental-branded Phuket scheme was an extension of an existing branded-residence model rather than a first attempt.

Segments and prices

PROUD's current range is clearly tilted toward upper-price residential property, but the spread is wide. On the official website on 24 August 2026, VEHHA Hua Hin was advertised from about THB 3.9 million, InterContinental Residences Hua Hin from THB 7.89 million, The Residences at InterContinental Phuket Resort from THB 15 million, ROMM Convent from THB 18.6 million, VARUNN Chaengwattana-Ratchapruek from THB 25 million and VI Ari from THB 82 million. The portfolio therefore runs from relatively accessible resort condominiums to extremely expensive low-density Bangkok houses. These are current advertised starting prices for particular developments, not a guaranteed transaction range.

Geography

PROUD operates across three quite different demand settings rather than one tightly defined market. In Bangkok it is active in Sathorn-Silom, Ari and the Chaeng Watthana-Ratchaphruek corridor; in Hua Hin it develops resort condominiums; and in Phuket it has entered Kamala with The Residences at InterContinental Phuket Resort. That distinction matters more to a buyer than the raw number of developments because a central Bangkok condominium, an Ari house and a Kamala branded residence depend on different occupier pools, ownership costs and resale dynamics. The NovAsia three-city dataset captures PROUD in Bangkok and Phuket, while the company's own portfolio also includes Hua Hin.

Reliability and public record

The latest reported numbers show a profitable period, although the balance sheet still needs to be read alongside the earnings. For the first six months of 2026, PROUD reported THB 2.995 billion of total revenue and THB 160.81 million of net profit; at 30 June it had THB 6.071 billion of assets, THB 4.265 billion of liabilities and THB 1.806 billion of equity. The company also said its interest-bearing debt-to-equity ratio had fallen to 1.1x from 1.9x at the end of 2025, with a THB 4.008 billion sales backlog extending through 2028. Those figures provide a stronger current financial picture than persistent losses or missing accounts would, but they do not guarantee delivery of an individual scheme. Developer revenue is heavily tied to project transfers, so construction progress, land mortgages and the finances of the specific project entity still matter.

What to verify

The due-diligence questions change with the product. For a condominium, confirm the seller entity, land title, registered mortgages, construction approvals, transfer timetable and available foreign quota; the Thai government states that foreign ownership is capped at 49% of the aggregate unit area in a registered condominium. For VI Ari or another landed house, condominium rules cannot simply be applied to the land, so a foreign buyer needs independent advice on a lawful ownership structure without nominee arrangements. The Residences at InterContinental Phuket Resort adds another layer: obtain the contractual scope of InterContinental services, compulsory owner charges, access rights to the adjacent resort, the term of the branding or management arrangements and what happens if those arrangements change. A global hotel name is commercially meaningful only to the extent that the buyer's rights and services are actually documented.

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.

The Residences at InterContinental Phuket ResortThailand
Condominium

The Residences at InterContinental Phuket Resort

Phuket
Proud Real Estate Public Company Limited
Based on developer materialUnder construction
Low-rise branded residence condominium · 7 floors · 111 units
From 13,600,000 THBAvailability and price confirmed personallyFrom THB 13.6M based on a current public listing checked on 17 August 2026. This is a lower market anchor for a one-bedroom residence; the exact unit, price, availability and tenure need to be reconfirmed before reservation.
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Frequently asked questions

Has Proud Real Estate operated since 1989?

The legal entity was incorporated in 1989, but the Proud Real Estate name dates from 13 May 2019. Before that it operated under several Focus names and had a construction background, so the age of the listed entity should not be presented as an uninterrupted Proud residential-development history.

Is PROUD a listed company?

Yes. Proud Real Estate Public Company Limited trades on the Stock Exchange of Thailand under ticker PROUD, and the legal entity has been listed since 5 October 2004.

Which projects best illustrate PROUD's current direction?

ROMM Convent represents the move into high-value central Bangkok condominiums, VI Ari demonstrates an ultra-low-density house format, and The Residences at InterContinental Phuket Resort shows the company's branded-residence strategy in a resort market. Together they describe today's PROUD more clearly than its earlier construction-company history.

How much does a Proud Real Estate property cost?

There is no single band. On 24 August 2026 the official site showed starting prices of about THB 3.9 million at VEHHA Hua Hin, THB 15 million at the InterContinental-branded Phuket residences, THB 18.6 million at ROMM Convent and THB 82 million at VI Ari. The actual unit price depends on size, floor or plot, fit-out and current sales terms.

What deserves extra attention at the InterContinental-branded Phuket residences?

Beyond title, permits, payments and foreign quota, review the contractual scope of hotel services and privileges, mandatory owner fees, resort-access rules and the duration of the agreements supporting the InterContinental branding. Marketing use of a hotel name does not by itself define the owner's legal rights.

Sources

Sources are named for independent checking. NovAsia does not publish outbound links.

  1. The Stock Exchange of Thailand · PROUD Factsheet: incorporation, listing and business type · 24.08.2026
  2. Proud Real Estate Public Company Limited · General information and corporate name history · 24.08.2026
  3. Proud Real Estate Public Company Limited · Shareholder structure as of 5 August 2026 · 24.08.2026
  4. Proud Real Estate Public Company Limited · Official current project catalogue and advertised starting prices · 24.08.2026
  5. Proud Real Estate Public Company Limited · Launch of The Residences at InterContinental Phuket Resort in October 2025 · 24.08.2026
  6. Proud Real Estate Public Company Limited · ROMM Convent: presale launch and stated project value · 24.08.2026
  7. Proud Real Estate Public Company Limited · Financial highlights for the first half of 2026 · 24.08.2026
  8. Proud Real Estate Public Company Limited · Q2 2026 results, leverage and sales backlog · 24.08.2026
  9. Thailand.go.th / Government Public Relations Department · Foreign condominium ownership rules in Thailand · 24.08.2026