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Land and Houses stock, LH

Land and Houses stock faces weak housing demand as Q2 profit falls

Published on 11/02/2026 at 01:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Land and Houses stock faces pressure after a sharp profit decline tied to weak housing demand. Hotel income offers a potential counterweight.

Weak Housing, Possible Recovery

  • Land and Houses reported sharply lower second-quarter profit as residential sales weakened.
  • Hotel income, condominium transfers, asset sales and a planned CEO change are identified as potential recovery drivers.
  • The company combines residential development with rental and service businesses in Thailand and the United States.
Land and Houses stock, LH, Thailand property, second-quarter earnings, housing demand, Illustration mit AI erstellt.
Land and Houses stock, LH, Thailand property, second-quarter earnings, housing demand, Illustration mit AI erstellt.

Land and Houses Public Company Limited posted a steep decline in second-quarter 2026 profit as weak housing demand weighed on its core residential business. Ava Fund's analysis said net profit fell 61.8 percent year on year to 525.67 million baht, while revenue declined 23.9 percent to 4.44 billion baht.

Residential sales revenue dropped 41.1 percent to 2.40 billion baht, reflecting subdued demand and high household debt. Rental and service income increased 16.1 percent to 2.04 billion baht, while the share of profit from associates rose to 803.20 million baht.

Recovery Depends On Deliveries

The analysis points to condominium transfers, hotel operations and asset sales as possible offsets to the housing slowdown. It also highlights the planned appointment of Archawin Assavabhokhin as chief executive officer from January 1, 2027, a management transition that could shape the company's next strategy.

Ava Fund said the Wan Vayla Na Chaophraya condominium project and the opening of the Grand Centre Point hotel could support earnings later in 2026 and in 2027. The same analysis noted that TRIS Rating maintained an A corporate rating with a Stable outlook and assigned an A rating to a new bond issue of up to 6 billion baht.

Business Mix And Competition

Land and Houses develops and sells single-detached homes, duplex homes, townhouses and condominiums in Thailand and also operates rental and service businesses, including shopping malls, hotels and apartments. The Bangkok-headquartered group was founded in 1973 and has subsidiaries operating in Thailand and the United States.

Its residential activities compete with Thai developers including AP Thailand, Supalai and Origin Property. Land and Houses has a broader mix than a purely residential developer because hotels, apartments and shopping malls add recurring rental and service operations alongside property sales.

Land and Houses at a Glance

  • Company: Land and Houses Public Company Limited
  • Ticker: LH.BK
  • Headquarters: Bangkok, Thailand
  • Sector: Real estate development
  • Core activities: Residential development, rentals, hotels and service businesses
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