• Debuting in Q1 2018 with a joint investment condo project with Mitsubishi Estate Group, the first project ‘LIFE Sukhumvit 62’ valued at 2 billion baht.
  • Reinforcing the brand position of LIFE under the concept ‘Platform of Success’, highlighting the best location for convenient connectivity, while integrating digital innovations to elevate living standards towards future success.
  • AP i-Booking, an online condo booking platform that provides an experience akin to visiting the project in person.

          Bangkok (February 26, 2018) – Today, AP (Thailand) Public Company Limited, a leader in urban real estate development, reaffirms its vision of developing digital innovations for a better quality of life in the future, entering the condo market to meet the preferences of the new generation. Launching the flagship project LIFE Sukhumvit 62, a joint venture with Japanese partner Mitsubishi Estate Group (MECG), located on Sukhumvit Road, which offers multiple travel connections. The project incorporates innovative design to enhance living standards through the concept of future living spaces. In the first quarter, AP makes history as the first real estate company to fully launch condo sales on an online platform. Through the use of AP i-Booking, an online condo booking system that provides a special experience for customers, simulating a visit to a real sample room at the project, aligning with changing consumer behaviors.

          With confidence in the project’s potential, located in the best area, providing diverse travel options, integrating design innovations to enhance long-term quality of life, and adapting new sales methods that directly reach consumers through modern technology, we are confident that LIFE Sukhumvit 62 will receive a positive response from urban customers seeking new condos in Sukhumvit at an affordable price. The project will officially open for booking at a starting price of 120,000 baht/sq.m. on March 27 from 7:00 PM to 9:00 PM.

          Mr. Witakarn Chanthawimon, Deputy Managing Director of the Condominium Business at AP (Thailand) Public Company Limited, stated, “AP Thailand is ready to sell LIFE Sukhumvit 62, the first joint venture condo project of this quarter, which will be a model project for AP to transition from offline sales to full online booking. This creates a new history for the Thai real estate industry by facilitating and ensuring safety in high-value real estate transactions online. AP has partnered with leading banks to provide convenience and confidence in accessing bookings for LIFE Sukhumvit 62 without limitations, responding to the behaviors of the new urban generation that embraces technology to simplify their lives. We believe that elevating the sales platform through full online systems this time will be a key weapon for success, allowing us to close sales for LIFE Sukhumvit 62 quickly.”

          Moreover, LIFE Sukhumvit 62 stands out by selecting a high-potential location and focusing on developing digital innovations for a better quality of life. With a location that offers multiple connections, just 200 meters from the ‘Bangjak’ BTS station and 500 meters from the expressway, the LIFE Sukhumvit 62 project has a competitive advantage in terms of value and options. Additionally, digital innovations integrated into the design of common areas with a Wi-Fi system throughout the project are designed under the concept of future living space design to elevate the quality of life for urban dwellers. Examples include Digital Co-working Space equipped with Cocoon Space, a special design for private space even in common areas, allowing for work without disturbance, while enhancing living space to design relaxation according to lifestyle without limits. The project features abundant green spaces, such as Interlock Landscape, bringing natural greenery into the lobby, with seating and pathways arranged in shaded areas for beauty and maximum privacy, simulating working amidst nature. It also meets the lifestyle needs of the new urban generation with Ultimate Rooftop Facilities, including Aquascape, an exclusive swimming pool offering views of Sukhumvit and the Bang Krajao river bend, as well as Sky Fitness, a spacious fitness area for an active lifestyle while maintaining privacy.

          “In terms of the home-buying process for the young generation, which has changed, they often seek comprehensive information and consume news through easily accessible tools, which are sufficient for decision-making as a first step before visiting the project as a final step. According to statistics from the APTHAI.COM website, the number of users increased from 250,000 in 2014 to 5.9 million in 2017, with over 70% of this customer group aged 25-44. Additionally, the success of the special booking round for AP i-Booking with two condos last year, namely LIFE One Wireless and LIFE Asoke - Rama 9, received excellent responses, with the number of customers interested in online bookings exceeding the number of units available by more than nine times, and the fastest booking time through AP i-Booking was just 1.21 minutes. This guarantees the behavior and familiarity with technology of this customer group, making us very confident that transitioning from offline sales to the full AP i-Booking system will meet their needs and establish a new standard in the Thai condo industry,” Mr. Witakarn added.

          “Regarding the condo market along the BTS line on Sukhumvit Road, it can be divided into three main segments: 1) Early Sukhumvit (Nana-Ekkamai stations) where condos are priced at 290,000-400,000 baht/sq.m, located in the city center, a hub for leading business districts, mostly luxury products; 2) Mid Sukhumvit (Phra Khanong-Nana stations) where condos are priced at 100,000-250,000 baht/sq.m, a high-potential area surrounded by city trend growth, also affected by the expansion of the business center in early Sukhumvit, which continuously drives demand in the area. The challenge for developers is the strategy for land selection and managing price packages that can meet demand. AP sees a gap in developing condos to meet this demand; and 3) Late Sukhumvit (Bearing-Erawan stations) where condos are priced at 70,000-120,000 baht/sq.m,” Mr. Witakarn added.

          The condominium ‘LIFE Sukhumvit 62’ has a project value of 2 billion baht, a joint venture project number 12 between AP (Thailand) and Mitsubishi Estate Group, set to launch as the first project this year, located in the best area on Sukhumvit Road, surrounded by amenities such as hospitals, educational institutions, and leading shopping malls, conveniently located just 200 meters from Bangjak BTS station and 500 meters from the expressway. The starting price is 3 million baht or starting at 120,000 baht/sq.m on a total area of 2-2-67.2 rai, comprising a 24-story residential building with a total of 438 units, with usable areas ranging from: 1) Studio, 25 sq.m; 2) 1-bedroom, 1-bathroom unit, 30 sq.m; 3) 1-bedroom, 1-bathroom (special type), 38-39 sq.m; and 4) 2-bedroom, 2-bathroom unit, 50-68 sq.m.

          For the development plan in 2018, AP (Thailand) is preparing to launch a total of 34 new projects valued at approximately 49 billion baht, comprising 4 condominium projects valued at 19 billion baht and 30 horizontal projects valued at 30 billion baht, with a sales target of 33.5 billion baht and a total revenue target for 2018 set at 28.1 billion baht.

          In the first half of this year, the condominium business group plans to launch 2 new condominium projects valued at a total of 5 billion baht, including Aspire Sathorn-Ratchaphruek, a 32-story condominium with 1,049 units valued at 3 billion baht, located just one step from Bang Wa station, a major connection point between BTS and MRT, with a starting price of 1.89 million baht, launched on February 24-25, and LIFE Sukhumvit 62, a joint venture condominium with 24 stories and 438 units, valued at 2 billion baht, just 200 meters from Bangjak BTS, which is set to open for sale through the AP i-Booking system on March 27 from 7:00 PM to 9:00 PM.

          Last year (2017), the company achieved significant success, generating total sales of 42.9 billion baht from both condo and horizontal products, marking a new record, exceeding the original sales target of 26 billion baht for 2017, representing a 92% growth compared to the 22.365 billion baht achieved in 2016. Factors contributing to the company's sales growth include the launch of 22 new horizontal products, including single houses and townhomes, which have shown continuous sales growth, as well as the successful launch of three LIFE condominium projects: LIFE Ladprao, LIFE One Wireless, and LIFE Asoke-Rama 9, all of which achieved approximately 90% sales closure. Additionally, ongoing projects exceeding 90 units also played a significant role in driving this success, exceeding the set targets.

Thank you for the information from www.apthai.com