Bangkok (July 3, 2019) – AP (Thailand) Public Company Limited the leader in real estate development, announced its first half performance with sales reaching 20.8 billion baht, firmly moving towards the total sales target of 41.8 billion baht, growing over 20% compared to the same period last year. The company is set to launch 23 new projects worth 27.265 billion baht to penetrate both horizontal and vertical markets in the second half, under its key mission to meet and enhance the quality of life for people in society. Highlights include the launch of a new brand THE SONNE Srinakarin-Bangna, which enriches the luxury home portfolio, and the return of condominiums under the brand LIFE SATHORN SIERRA, the first model of sustainable living development in Thailand. The company is confident it can meet its sales target by the end of 2019.

          Mr. Witakarn Janthawimon, Deputy Managing Director of Corporate Strategy and Innovation at AP (Thailand) Public Company Limited, stated, “Despite various factors affecting the real estate business in the first half, including the slowing global economy and domestic control measures impacting the buying atmosphere, AP believes that the demand for housing still exists but is becoming more specific. The ‘location’, ‘house design’, and ‘price package’ must align for customers to make a purchase decision. Therefore, the challenge for real estate operators today is to develop both formats and price packages based on actual demand and customers' payment capabilities. The operations in the first half, under a long-term strategy to launch all brands in the group, have resulted in strong sales for AP, reflected in the total sales of over 20.8 billion baht (as of June 30, 2019), with condominium sales valued at 9.5 billion baht and horizontal sales at 11.3 billion baht, representing an increase of over 20% compared to the same period last year, which was 17.265 billion baht, defying the overall market slowdown in the first half.”

          “In the first half, AP launched 17 new projects worth a total of 30.785 billion baht, receiving positive feedback from customers for both horizontal and condominium products. Of the sales generated in the first half of 20.8 billion baht, over 54% came from horizontal products, particularly the single-house projects THE CITY Ratchaphruek-Suan Phak and PLENO Don Mueang-Song Prapha, which exceeded the pre-sale targets. The condominiums THE ADDRESS Siam-Ratchathewi, RHYTHM Ekkamai Estate, and ASPIRE Asoke-Ratchada received excellent responses from customers, which significantly contributed to the strong sales growth in the first half,” Mr. Witakarn added.

          “Regarding the real estate business in the second half, we believe that all operators are closely monitoring the market situation. However, key issues to watch that are likely to boost confidence and the buying atmosphere in the second half include political clarity, which will be crucial in restoring confidence among both real demand customers and investors, along with the government formation plan and the establishment of a clear economic policy team. We anticipate benefits from the new government's economic stimulus measures, which will help revive the overall economy,” Mr. Witakarn further stated.

          For the new project launch plan in the second half, AP will continue to operate according to its established plan, launching 23 new projects worth 27.265 billion baht, including 12 townhome projects valued at 9.25 billion baht, 10 single-house projects valued at 11.715 billion baht, and 1 condominium project valued at 6.3 billion baht. The highlight for the second half is AP's aim to set a new standard for residential development, targeting both horizontal and vertical markets, under its key mission to meet and enhance the quality of life for people in society. The first highlight is the upcoming launch of a new brand product to enrich the horizontal home portfolio under the name THE SONNE Srinakarin-Bangna, with a project value of 600 million baht, marking the first integration of space innovation and safety for future living into real habitation, officially launching in September. Additionally, for the condominium segment, AP is preparing to launch LIFE SATHORN SIERRA (joint venture project) with a project value of 6.3 billion baht, setting a model for high-rise development alongside creating the first comprehensive blueprint for sustainable quality living in Thailand, with an official launch coming soon.

          As of June 30, 2019, the company has a total backlog of projects worth 57.31 billion baht, including horizontal projects valued at 10.13 billion baht, which are expected to be recognized within this year, and condominium projects including joint ventures valued at 47.18 billion baht, with AP condominiums at 5.65 billion baht, expected to recognize approximately 2.604 billion baht this year, and joint venture condominiums at 41.53 billion baht, expected to recognize approximately 5.505 billion baht this year, with the remainder to be recognized until 2023.

          In summary, for the real estate business plan in 2019, AP plans to launch a total of 40 new projects valued at approximately 58.05 billion baht, with plans to launch 23 projects in the second half valued at 27.265 billion baht. As of June 30, the company has already achieved total sales of up to 20.8 billion baht, along with over 100 ongoing projects around Bangkok valued at over 64.293 billion baht, which the company is confident will achieve its total sales target of 41.8 billion baht.

“AP Thailand dares to be different for the best quality of life for Thais.”

Thank you for the information from www.apthai.com