Mr. Witakarn Janthawimon, Deputy Managing Director of Corporate Strategy and Innovation at AP Thailand Public Company Limited (AP) stated that although the first half of the year was impacted by COVID-19 and government measures, such as a one-month construction camp closure and a recent 14-day lockdown, the effects were not severe. This was due to the company's proactive planning, which included shifting sales online. The construction camps are expected to accelerate construction once they are reopened.

 

For the second half of the year, the company plans to launch 26 new projects worth 33.44 billion baht. This includes 22 horizontal projects valued at 20.44 billion baht, 4 condominium projects worth 13 billion baht, and plans to transfer ownership of 2 new condominiums: Life Ladprao Valley and Life Asoke Hype, with a total value of 12.3 billion baht. As of June 30, there is a backlog of sales waiting for transfer amounting to 40.552 billion baht to support long-term growth over the next three years.

The company is also preparing to expand its customer base in the single-family home segment priced at 35-60 million baht, which is categorized as Super Luxury. They plan to reintroduce the "Baan Klang Krung" brand, focusing on prime locations in the city. The first pilot project will be Baan Klang Krung Sathupradit-Rama 3, featuring only 13 luxury homes priced between 35-60 million baht, with pre-sales starting in September.
 

In the condominium segment, the company will expand its products into the mass market by revamping the Aspire brand under the concept LIVE AS ‘YOU’ ASPIRE, focusing on developing projects based on four key selling points: prime urban locations, fewer units, convenient transportation, adaptable space design, comprehensive common areas, and pricing that aligns with the target audience, starting at 55,000-65,000 baht per square meter. The company plans to launch two locations: Aspire Rattanathibet-Weston in September starting at 1.59 million baht, and Aspire Pinklao-Arun Amarin in the fourth quarter.

In the second half of the year, the real estate sector must watch for three challenges: 1. Restoring consumer confidence, with vaccines being a crucial factor; 2. Government measures to stimulate purchasing power as confidence begins to return; and finally, the plan to reopen the country. All three factors will take considerable time, and it is expected that the real estate market will recover in mid to late 2022 after widespread vaccine distribution leads to herd immunity, boosting tourism and economic recovery.