• Closed the first quarter of 2018 with sales of 10 billion baht, an increase of over 168%, achieving comprehensive growth in both horizontal and vertical products.
  • In Q2, preparing to launch 3 new projects while continuing to acquire new land.

          Bangkok (April 3, 2018) – AP (Thailand) Public Company Limited, a leader in real estate development in Thailand, announced its Q1 sales figures as of March 31, 2018, achieving sales of 10 billion baht, a remarkable growth of 168% compared to the same period last year. Horizontal products grew by 64%, amounting to 5.2 billion baht, while condominiums surged by 770%, totaling 4.8 billion baht, resulting in the company achieving 30% of its sales target for 2018 (sales target of 33.5 billion baht).

          For its operations in 2018, AP aims to maintain its position as one of the top three real estate developers in Thailand, with a key mission of “delivering a better quality of life in living environments” across all dimensions, including innovating new designs. The company is set to enhance growth with 5-Dimensional Strategies for Success: 1. Continuing success with the Mitsubishi Estate Group, 2. Launching Super Luxury products, 3. Differentiating horizontal products through designs that meet specific market needs, 4. Expanding the international market portfolio, 5. Developing digital innovations for the better quality of life of AP residents.

          Mr. Anupong Assavapokin, CEO of AP (Thailand) Public Company Limited, shared his views on the overall real estate market and the outlook for Q2, stating, “The market shows signs of improved growth compared to the same period last year due to several positive factors, such as the improving global economy, government investments, and the gradual increase in interest rates. We believe that purchasing power in the real estate sector remains strong, especially in the upper housing market, which is less affected by the economy. This is clearly reflected in AP's Q1 sales growth, particularly in horizontal products, which indicates a significant market shift. For the overall market in Q2, we expect competition to intensify compared to the previous quarter, with more new projects being launched and the supply catering to the upper-middle market continuing to receive good responses.”

          “The successful sale of the LIFE Sukhumvit 62 project through online booking, with all units sold out in just 20 minutes, clearly reflects that today’s customers have changed their purchasing behavior, becoming more accustomed to online buying. They still possess high purchasing power, while the middle to lower market segments are likely to remain stable or grow slowly due to liquidity issues among customers in that market,” Mr. Anupong stated.

          Furthermore, the increase in sales is attributed not only to the launch of 2 new condominiums, LIFE Sukhumvit 62 and Aspire Sathorn-Ratchaphruek, but also to the completed condominiums ready for transfer within the AP group. Additionally, both horizontal products, single houses and townhomes from AP have received significant positive responses. This is a result of the project development approach that emphasizes the design of the houses and the environment within the project, considering the perfection of a good quality of life, as well as setting price packages that align with consumers' current repayment capabilities, all of which significantly influence consumers' purchasing decisions.

          In Q2, AP plans to launch 3 new projects, including 2 single-house locations: “CENTRO Rangsit Klong 4-Ring Road”, which will start sales on April 28-29, starting at 2.95 million baht, and “CENTRO Ratchaphruek-Suan Phak”, launching on May 5-6, starting at 7.2 million baht, along with the townhome “Baan Klang Muang Watthana”, expected to launch around June.

          In summary, in 2018, the company plans to launch a total of 34 new projects worth 49 billion baht, divided into 4 condominium projects worth 19 billion baht and 30 horizontal projects worth 30 billion baht, with a sales target of 33.5 billion baht. AP continues to plan for land acquisition to develop new projects and expects to have opportunities to launch additional sales from the plans set for this year.

 

Thank you for the information from www.apthai.com