AP Thailand Maintains Strong Performance

First Quarter Sales Reach Nearly 8 Billion Baht

Bangkok (April 8, 2021) – AP Thailand has maintained its strong performance, kicking off the year 2021 with first quarter sales totaling 7.966 billion Baht, driven by 113 projects distributed nationwide. This reflects the internal strength of the company, alongside effective portfolio management and product distribution. In the second quarter, low-rise products continue to be the star of the year, with plans to launch 5 new low-rise projects while preparing the organization to adapt to changing global regulations under the mission 'EMPOWER LIVING.'

Mr. Witakarn Janthawimon, Deputy Managing Director of Corporate Strategy and Innovation at AP Thailand, stated that the overall real estate business in the second quarter is expected to remain in a recovery phase, with demand aligning with the overall economic picture. The supply of new products is still driven by a few major players in the market. The sentiment for condominiums is expected to improve in the second half of the year, but it will take a long time to recover to pre-COVID-19 levels. Low-rise products will continue to be a superstar for another year. In the past first quarter, the company achieved sales of 7.966 billion Baht from AP's real estate projects across the country, an increase of 32% compared to first quarter sales of 6.045 billion Baht in 2020. Notably, sales from low-rise products reached 7.293 billion Baht, reflecting customer confidence in single-family homes and townhomes from AP, which are widely available in the Bangkok area and new markets in 5 provinces: Khon Kaen, Rayong, Nakhon Si Thammarat, Ayutthaya, and Chiang Rai, achieving remarkable sales growth amid a volatile market.

The survival opportunities for the real estate business amidst the Ripple Effect caused by COVID-19, in addition to internal management plans to strengthen the organization, include managing product portfolios to ensure availability and distribution across various locations to create competitive advantages. This approach has contributed to today's success, alongside the goal of EMPOWER LIVING as a key driver for delivering quality living options for customers.

For the project launch plan in the second quarter, the company is preparing to launch 5 low-rise projects with a total value of approximately 2.66 billion Baht, all scheduled for sale in June. This includes:2 single-family home projects valued at a total of 1.65 billion Baht: 1) CENTRO Phaholyothin-Vibhavadi 2 with 249 units valued at 1.25 billion Baht, 2) CENTRO Ratchaphruek-Suan Phak 3 with 43 units valued at 400 million Baht. 3 townhome projects valued at a total of 1.01 billion Baht: 3) Pleno Bangna-On Nut 2 with 233 units valued at 570 million Baht, 4) Pleno Pinklao-Charan 2 with 86 units valued at 330 million Baht, and a home office project 5) District Ram Inthra-Jatujak with 20 units valued at 110 million Baht.

In 2021, AP Thailand aims to have 145 real estate projects developed nationwide, with a total sales value of over 118.128 billion Baht. This includes:34 new projects launched in 2021 valued at approximately 43 billion Baht (2 projects launched with a value of 2.3 billion Baht), comprising 30 low-rise projects valued at approximately 28.8 billion Baht and 4 condominium projects expected to launch in the second half of the year valued at approximately 14.2 billion Baht. Additionally, 113 existing projects distributed across all locations in Bangkok and provinces with a total sales value of approximately 77.428 billion Baht (including the 2 new projects launched in 2021). The company aims to recognize revenue (including 100% JV) of 43.1 billion Baht and sales targets of 35.5 billion Baht in 2021.

 

In the first quarter, the company launched 2 projects: Apitown Chiang Rai and Apitown Ayutthaya, with a total project value of 2.3 billion Baht, launched in February. As of March 31, 2021, over 300 million Baht has already been sold, reflecting customer confidence and trust in the major city markets towards the brand and real estate developed by AP.