Phuket developer TITLE reports B2.004 billion first-half revenue, up 377%

Rompho Property Public Company Limited (TITLE), part of the AssetWise group, reported first-half 2026 revenue of B2.004 billion, up 377% year on year. Net profit rose 1,358% to B293 million, driven mainly by revenue recognition from the completed B4 billion The Title Serenity Naiyang project.

The company said sales in the second quarter increased 15% year on year despite the low season and tensions in the Middle East. It attributed the stability of sales and transfers partly to a payment structure under which customers pay 75% before handover, resulting in a cancellation rate of “almost zero” across its projects, according to the company.

TITLE expects Phuket’s high season to run from late Q3 2026 through Q1 2027. The company said increased international direct flights and government efforts to promote seaplane services could support travel demand, citing a planned London Heathrow–Phuket route expected to begin in late 2026.

In the second half of 2026, TITLE plans to continue handing over The Title Serenity Naiyang and begin transfers at The Title Heritage Bang Tao, a project valued at B6 billion. The B1.2 billion The Title Cielo Rawai project is also expected to support growth. In the fourth quarter, the company plans to recognise additional revenue from The Title Villa Estella Naiyang, its first villa project, valued at B500 million and reported as 100% sold. The project is due to be completed late in 2026.

The company had a backlog worth more than B22.981 billion at the end of the second quarter, which it expects to recognise as revenue through 2028. TITLE said it remains confident of reaching its full-year revenue target of B6 billion while maintaining a focus on liquidity and financial discipline.

To expand recurring income, TITLE plans to launch The Salute, its first seaside beach-club restaurant, late this year. The company is also developing three hotel projects with IHG Hotels & Resorts as part of its hospitality expansion.