Bangkok (August 11, 2017) – AP announced its first half performance for the year 2560, showing steady growth and celebrating success from 4 joint venture projects that have begun transferring ownership and recognizing revenue. This resulted in total revenue for the first half reaching 10,593 million baht, an increase of over 23% compared to the same period last year. Net profit grew by 18% to 1,157 million baht. The company is set to launch 18 new projects, marking the first simultaneous launch of multiple horizontal projects, including 10 townhomes under the brand 'Baan Klang Muang - Pleno' starting from 1.69 to 8.99 million baht, 7 newly designed single houses under the brand 'The City - Centro' starting from 9.8 to 35 million baht, and 1 new condominium 'Life Asoke-Rama 9' starting at 110,000 baht per square meter.

          Mr. Anupong Asavaphokin, CEO of AP (Thailand) Public Company Limited, stated that the strategy "Think and Create Differently" (AP THINK DIFFERENT) emphasizes AP's strengths in delivering quality residential products, distinguished by design and space allocation. The success in the condominium joint venture with Mitsubishi Estate Group marks the first year that joint venture condominiums have been completed and started transferring ownership, recognizing revenue from 4 projects. This has resulted in record high growth rates for the first half of the year, with total revenue reaching 10,593 million baht, including 51% revenue from joint venture condominiums with Mitsubishi Estate Group, with revenue of 5,129 million baht in Q1 and 5,464 million baht in Q2, growing 23% from the same period in 2559. Net profit for the first half was 1,157 million baht, an increase of 18% compared to 981 million baht in the first half of 2559, with net profit for Q2 at 608 million baht and Q1 at 549 million baht.

          In terms of sales progress for the first half, the company achieved total sales of 15,000 million baht, ranking second in the business. Including sales from the latest project that just opened for pre-sale on July 29, with the project LIFE ONE WIRELESS, total sales for the first 7 months (January-July) reached 23,300 million baht, growing over 76.9% from the same period last year, accounting for 89.5% of the total sales target of 26,000 million baht set for this year.

          For the second half of the year (5 months from August to December), the company is ready to launch another 18 projects worth a total of 28,750 million baht, including 17 horizontal projects valued at 19,750 million baht, consisting of 7 single house projects and 10 townhome projects, along with 1 joint venture condominium project LIFE Asoke-Rama 9 valued at 9,000 million baht. All will be ready for pre-sale between August and September. The company is confident that with the remaining time and plans for new project launches in the second half (5 months from August to December), it will exceed the sales target set.

          The overall joint venture with Mitsubishi Estate, a leader in comprehensive real estate development in Japan, has developed a total of 10 joint venture condominium projects worth over 41,000 million baht since starting the partnership in 2014, achieving total sales of 80%. Four of the 10 joint venture projects, namely RHYTHM Sukhumvit 36-38, Aspire Ratchada-Wongsawang, RHYTHM Asoke 2, and Aspire Sathorn-Thapra, have been completed and started delivery since the beginning of this year.

          In the remaining five months of the second half (August-December), the company is preparing to launch 17 horizontal projects at the sales offices of each project. All 17 projects feature innovative designs developed to meet the diverse needs of customers in different locations. On August 19-20, the company will hold THE PHENOMENAL 10 event, marking the first launch of 10 new townhomes in the city under the brands “Baan Klang Muang and Pleno,” with pre-sale prices and financial offers including a 100% refund and an additional discount of 100,000 baht for early registration. The projects include (1) Baan Klang Muang Sathorn-Suksawat (2) Baan Klang Muang Ladprao-Serithai (3) Baan Klang Muang Ratchaphruek-Rama 5 (4) Baan Klang Muang Ramindra-Watcharapol (5) Pleno Ratchaphruek (6) Pleno Chaiyaphruek-Chaengwattana (7) Pleno Phaholyothin-Rangsit (8) Pleno Sukhumvit-Bangna (9) Pleno Ramindra-Ring Road and (10) Pleno Phaholyothin-Watcharapol starting from 1.69-8.99 million baht.

          Additionally, a pre-sale event for 7 new model single houses will take place from October 29 to November 1, featuring the brand THE CITY, ideal for families, with 4 new locations (1) THE CITY Pattanakarn (2) THE CITY Bangna-KM.7 (3) THE CITY Sathorn-Suksawat (4) THE CITY Pinklao-Bromratchakra, priced from 9.8-35 million baht, and single houses under the CENTRO brand for modern families at 3 new locations (5) CENTRO Bangna-KM.7 (6) CENTRO Phaholyothin-Vibhavadi (7) CENTRO Ramindra-Jatujak starting from 4.99-15 million baht. Special registration and booking during the pre-sale will receive an iPhone 8 and many other exclusive benefits. The LIFE Asoke-Rama 9 condominium will also open for pre-sale at the end of September.

As of now (July 31), the company has a backlog valued at 34,500 million baht, consisting of horizontal projects worth 3,820 million baht, which is expected to be recognized within this year, and condominiums worth 30,680 million baht, which will be recognized gradually until 2564.

 

Thank you for the information from   www.apthai.com