AP Reaffirms Leadership in Urban Single-Family Homes

Emphasizing the Position of 'Homes that Understand Life' to Drive Success

Defying the Pre-Sale Trend with 6 New Single-Family Homes Sold Before Completion

In 8 Months, Total Sales Exceed 21.42 Billion Baht

  • Highlighting the Concept of HYBRID LIVING - An innovative single-family home design that understands life, perfectly connecting every space to the life stories of all generations.
  • Reflecting Purchasing Power and Confidence in Single-Family Homes - AP's trend of selling homes before completion led to over 1 billion baht in sales within just 2 days of launching 6 new projects.
  • A New Milestone of Success with Record High Sales - In 8 months, total sales of horizontal properties exceeded 18.4 billion baht, accounting for 82% of the annual sales target for horizontal properties.
  • Reassured by a Backlog of Over 49.33 Billion Baht - With 12.01 billion baht from horizontal properties expected to be recognized this year.

AP (Thailand) Public Company Limited, a leader in real estate development, operates under the mission 'EMPOWER LIVING', aiming to fulfill every life goal with valuable and meaningful products and services. The company reinforces its leadership in the urban single-family home market with the stance of 'Homes that Understand Life', integrating technology with space design to connect the life stories of all generations under the concept of HYBRID LIVING. Recently, AP launched 6 new single-family homes, achieving over 1 billion baht in sales within just 2 days, defying market trends. In 8 months, total sales reached 21.42 billion baht, with a reassuring backlog of over 49.33 billion baht, including 12.01 billion baht from horizontal properties expected to be recognized this year.

Mr. Ratchayut Nuntachotisophon, Deputy Managing Director of the Single-Family Home Business Development Division at AP (Thailand) Public Company Limited, stated, "AP Thailand began developing single-family homes in 2004. After more than 15 years of continuous development, the company has launched over 80 projects worth nearly 100 billion baht, with more than 50 house models. This has led to significant growth in the single-family home business, with revenues soaring from billions to tens of billions, reaching 10.23 billion baht in 2019. Today, AP single-family homes hold the largest market share, with the highest number of units sold in the urban and suburban single-family home market (2015-1H 2020), emphasizing that 'AP single-family homes are homes that understand life'. This is a key driver of our current and future success through three quality brands: THE PALAZZO, a luxury mansion in the super-luxury segment priced from 25-60 million baht; THE CITY, a newly designed single-family home in the high-end segment priced from 9-25 million baht; and CENTRO, a modern single-family home designed for starting families in the mid-range segment priced from 4.5-12 million baht."

“AP's ability to maintain the number one position in urban single-family homes is largely due to our working philosophy under the value of Put People First, which emphasizes understanding people's needs and listening to customer feedback. This is one of AP's five core values under the overarching mission of EMPOWER LIVING, committed to developing every area within AP's single-family home projects to meet customer needs and seamlessly connect life stories across generations,” Mr. Ratchayut added.

Ms. Pimphan Prechanont, Senior Director of Brand Management and Product Development for Single-Family Homes at AP (Thailand) Public Company Limited, stated, “Currently, the challenge in developing single-family home products has reached a point where it goes beyond location and functionality. The heart of project design today and in the future must focus more on understanding the insights of how different family members use space. If we decode the actual space usage needs of a home, we will find that gender, age, lifestyle, and the need for private and communal spaces within a home have details that design must address to create a community, enhance common functions, green spaces in projects, safety, and a good society as a whole. This is one of the strategies that differentiates AP single-family homes and leads to success, including extending the stance of 'homes that understand life' into integrating technology with living, resulting in the concept of HYBRID LIVING through four key pillars:

  1. Cost-saving - Innovations for the community with common areas that support activities for all ages without worrying about costs, featuring a solar-powered clubhouse that operates through solar panels on the roof.

  1. Security - Innovations for safety with an intelligent home security system that monitors all members 24/7, including motion detection sensors that alert via smartphone, sirens for intruders, IP cameras for live streaming, and digital door locks that can be controlled via an app, along with temporary pin codes for special guests or emergency buttons for urgent situations, ensuring peace of mind for residents of all ages.

  1. Comfort - Innovations for convenience with a smart home gateway and security module that connect to lighting control systems and motion sensors, expertly managing lawns or controlling air conditioning whether inside or outside the home.

  1. Community - Innovations that care for the community 24/7 through the Katsan Platform, an intelligent guardian assistant that enhances peace of mind in quality living environments, selecting individuals who enter the project and facilitating various living conveniences to create a quality community.

On September 12-13, the company launched pre-sales for 6 new single-family home projects, including 1) THE CITY Sathorn-Suksawat 2, priced at 29.9-37 million baht; 2) THE CITY Rama 2-Buddhabucha, priced at 9-15 million baht; 3) THE CITY Rama 9-Ramkhamhaeng, priced at 11-25 million baht; 4) THE PALAZZO Pinklao, priced at 35-60 million baht; 5) CENTRO Rama 9-Bangkok Kritha, priced at 7.9-15 million baht; and 6) CENTRO Ratchaphruek-Suan Phak 2, priced at 7.59-11 million baht. The response has exceeded expectations, achieving over 1 billion baht in sales within just 2 days, with some projects selling out completely, and in some cases, the company was unable to build homes fast enough to meet sales demand, reflecting the purchasing power in the upper market and the confidence customers have in AP's single-family homes.

In summary, as of August 31, 2020, the company achieved total sales of over 21.42 billion baht in 8 months, against a sales target of 33.5 billion baht, with 18.4 billion baht coming from horizontal properties, accounting for 82% of the annual sales target for horizontal properties of 22.5 billion baht, representing a 15% growth compared to the same period last year.

In the first half of the year, the company generated total revenue of 100% from joint ventures amounting to 19.96 billion baht, with a backlog of recognized revenue from joint venture projects valued at 49.33 billion baht, including approximately 12.01 billion baht from horizontal properties expected to be fully recognized this year, and condominiums valued at 37.32 billion baht, with approximately 9.008 billion baht to be recognized this year and the remainder to be recognized until 2023.

In the fourth quarter, the single-family home business group plans to launch 2 more projects with a total value of 1.8 billion baht, including THE CITY Borommaratchachonnani-Taiwatthana valued at 890 million baht and a project in the Sathorn area valued at 910 million baht. Throughout the year, the single-family home business group will launch a total of 18 new projects valued at 20.43 billion baht.