‘AP Thailand’ transforms urban living by launching the ‘LIFE Asoke Hype’ condominium, reinforcing its position as the market leader in real estate development in the new business district of the future.

• Highlights its strength in distinctive design tailored for trendsetting lifestyles at an affordable average price of only 135,000 baht per square meter

• Applies Design Thinking to identify unmet needs in real estate development, addressing the real demand in the connecting area of Asoke-Phetchaburi-Rama 9

• A location that connects all travel offers value for both residential purchases and long-term investment opportunities

          Bangkok (September 18, 2018) – Today, AP (Thailand) Public Company Limited, a leader in real estate development that caters to every urban lifestyle, is moving forward to meet the demand of the new generation of city dwellers by launching ‘LIFE Asoke Hype’, a new condominium in the heart of the future business district of Asoke-Rama 9, blending differences seamlessly and reflecting a unique identity.

The design process utilizes Design Thinking combined with AP's expertise in space design, ensuring that every step in ‘LIFE Asoke Hype’ embodies the perfect urban privacy, complemented by fully equipped communal facilities that support a digital lifestyle with cutting-edge innovations, truly meeting the needs of real demand. It offers great value with an affordable price package and potential for long-term investment opportunities, whether for living or long-term rental, with rental yields of approximately 5 - 6%.

          LIFE Asoke Hype (LIFE Asoke Hype)  will open for the first booking round via the AP i-Booking system on Tuesday, October 2, from 7:00 PM to 9:00 PM, with an official pre-sale scheduled simultaneously in Thailand and abroad on October 6-7, starting at 2.89 million baht.

 

          Mr. Witak Chanthawimon  Deputy Managing Director of Corporate Strategy and Creativity at AP (Thailand) Public Company Limited stated, “The success of our previous condominium developments lies in selecting excellent locations in the city center that facilitate travel, combined with a focus on design to maximize usable space, managing an appropriate sales price package, and ensuring confidence in construction quality, maintenance, and after-sales service from AP. However, the business landscape has changed; developers are now highlighting convenient locations near BTS lines as selling points. As the market leader in condominiums along the BTS lines, we maintain the quality aspects mentioned earlier but enhance our condominiums' potential to meet the true needs of customers, including unmet needs, by incorporating the Design Thinking process. For the development of the LIFE Asoke Hype condominium, our team had to work hard to ensure that LIFE Asoke Hype will truly elevate urban living in the city center by presenting both communal and unit spaces that differ and align with what customers are looking for.”

          “AP is the market leader in condominiums along the BTS lines, especially in the Asoke-Phetchaburi-Rama 9 connecting area, where we have completed 5 projects totaling over 3,600 units. This gives us deep expertise and understanding of the unique insights of customers in this area. Additionally, we are continuously striving to elevate residential project development to deliver sustainable living quality by incorporating the

Design Thinking process to uncover the latent needs of customers, both today and in the future. We find that customers in this area are predominantly Gen-X to Gen-Y, averaging 28-37 years old, with diverse lifestyles, which inspired the design of the LIFE Asoke Hype project under the concept of The Supremacy of Both Worlds, selecting the best elements to create a unique urban living experience, highlighted by four key selling points: (1) PRIVACY IN CONNECTED SPACE, enhancing the functionality of communal areas for more privacy by designing spaces like a Running Loop, Co-Working Business Lounge, swimming pool, or zoning various amenities with gradient techniques to support true privacy; (strong>(2) SUPREME LUXURY IN ECLECTIC DESIGN, redefining luxury living with a unique design that showcases vibrant colors on the building, reflecting the distinctive style of its residents; (3) SUPREME SPACE IN TOMORROW’S FUNCTIONALITY, emphasizing the design of living unit spaces that are genuinely expandable and flexible to meet all residents' needs, promoting today's lifestyle and future adaptability; and (4) SUPREME LOCATION AT SUPREME PRICE, highlighting the potential of a future location at an affordable price,” Mr. Witak stated.

          “LIFE Asoke Hype (LIFE Asoke Hype) is a condominium project co-developed by AP and Mitsubishi Jisho Residence (a subsidiary of Mitsubishi Estate Group - MECG) with a project value of 5.7 billion baht, 40 stories high, comprising 1,253 units. What sets LIFE Asoke Hype apart from other projects in the area is its offering of a new dimension of urban living at an average sales price of only 135,000 baht per square meter, located just 300 meters from the Rama 9 MRT station,” Mr. Witak added.

 

          Mr. Kayan Tantichatiwat  Director of Bangkok City Smart Co., Ltd., a leading investment consultancy in urban real estate, commented on the overall condominium investment landscape in the Asoke-Phetchaburi-Rama 9 connecting area, stating, “This area is considered the new business district of Bangkok, a location of opportunity, with a continuously increasing influx of both Thai and foreign customers each year, especially from Asian countries such as Taiwan, Singapore, Hong Kong, China, and Japan. This has attracted many real estate operators to invest in this area, leading to high competition. Research from Bangkok City Smart's research department shows that the main factors influencing customers' decisions to purchase or invest in real estate in this area, aside from location, are the presentation of differentiated products and affordable pricing, and importantly, the quality standards of the residential projects. Therefore, the challenge for operators entering this market zone is to win customers' hearts in these aspects.”

          “As for the location of the LIFE Asoke Hype  condominium, it is a location with potential for both current and near-future readiness, given the development plan for Grade A office space that will become the new business center of Bangkok. It is projected that over 78,000 employees from Thai and foreign companies will fully relocate to this new business center by 2020. Additionally, the connection plans between the current MRT lines, such as the Blue Line, which has an average daily ridership of approximately 270,000 people (an increase of over 5.23% per year), and the future Orange Line project from Cultural Center to Min Buri will facilitate and enhance connectivity to the existing CBD areas like Silom, Sathorn, and Sukhumvit directly, surrounded by various amenities, making it highly desirable for buyers who appreciate convenience,” Mr. Kayan stated.

          “In the overall condominium market in the Asoke-Phetchaburi-Rama 9 connecting area over the past five years, there have been 19 new projects launched in the area, with 9 projects launched along the main road from Asoke Intersection to Phetchaburi, averaging a selling price of 240,000 baht/sq.m., achieving a total sales rate of 82%. Meanwhile, 10 projects launched from Phetchaburi Intersection to Cultural Center Station averaged a selling price of 175,000 baht/sq.m., with a total sales rate of 83%, indicating a good response. Additionally, the resale condominium market has also seen an annual increase of approximately 9%. Furthermore, buyers looking to invest in rental and resale properties are equally interested in this zone, as the long-term rental yield of condominiums in this area has shown growth rates of approximately 5 - 6%, indicating that condominium prices in this location remain suitable for both living and long-term investment,” Mr. Kayan further elaborated.

          “Therefore, new condominium projects entering this market zone must create differentiation both within the living units and communal areas, as well as ensure quality standards to win over urban dwellers and foreign customers who are increasingly seeking condominiums in this area, which will only appreciate in value over time. AP believes that LIFE Asoke Hype, a new condominium in the heart of the future business district connecting Asoke-Phetchaburi-Rama 9, blending differences seamlessly and reflecting a unique identity, will undoubtedly capture the hearts of target buyers with its advantages in location just 300 meters from the MRT station, flexible unit layouts that can be adapted to needs, well-designed communal areas that understand buyers' privacy needs, affordable selling prices, and confidence in construction quality, maintenance, and after-sales service from AP,” Mr. Witak concluded.

 

          LIFE Asoke Hype (LIFE Asoke Hype) is a condominium in the heart of the future business district, distinguished by its unique design.  The project is valued at 5.7 billion baht, consisting of a 40-story residential building with a total of 1,253 units and 4 retail shops, including unit types such as 1) Studio 25.50 square meters, 2) 1-Bedroom Units 30.50 – 32.00 square meters, 3) 1-Bedroom Units (Special Type) 35.00-40.00 square meters, 4) 2-Bedroom Units 48.50 – 64.00 square meters, with amenities on the 1st, 7th, 40th floors, and the Rooftop. The project is situated on a 5-0-10 rai plot in the potential business district of Asoke-Rama 9, surrounded by shopping malls, schools, and office buildings, and serves as a transportation hub with convenient access to both private vehicles and public transport, located just 300 meters from the Rama 9 MRT station and expressway entrances, meeting the needs for convenience in travel and vibrant urban living.

          In summary, in 2018, the company launched a total of 38 new projects valued at 59.58 billion baht, with 30 projects launched in the second half of the year valued at 49.21 billion baht, including 12 projects in Q3 valued at 17.98 billion baht and 18 projects in Q4 valued at 31.23 billion baht. As of September 15, the company has achieved total sales of 29.71 billion baht, comprising 14.45 billion baht from condominiums and 15.25 billion baht from low-rise projects, resulting in approximately 75% of the sales target for 2018 (sales target of 39.8 billion baht). The backlog is valued at 54.255 billion baht, with low-rise projects worth about 9.675 billion baht expected to be recognized within this year and condominiums worth 44.58 billion baht (including joint venture projects) to be gradually recognized until 2023.

“AP Thailand dares to be different, a leader in innovation for urban living.”

Thank you for the information from www.apthai.com