• AP Thailand, under the promise of 'A Good Life You Can Choose,' has maintained its corporate credit rating and unsecured debentures at 'A' with a 'Stable' outlook for the fourth consecutive year, as announced by TRIS Rating, a leading credit rating agency in Thailand.
  • This reflects ultimate confidence; the credit rating signifies a strong market leadership position and brand strength, which has consistently received positive feedback across both horizontal projects and condominiums, allowing the company to maintain its revenue base alongside ample liquidity and maximum confidence from the capital market.
  • Reinforcing its number one potential, the market share has surged nearly double from 12% in 2021 to 19% in 2025, capturing nearly one in five compared to other rated real estate developers by TRIS Rating, reflecting a strong revenue base and continuous positive feedback in the long term.
  • Continuing its proactive strategy in 2026, the organization is driven by the 'CODE OF IN-DEPTH UNDERSTANDING' strategy, moving forward with the launch of 42 new projects worth a total of 55 billion baht from a portfolio of over 200 projects nationwide, aiming for total sales and revenue of 49 billion baht.
  • This success stems from prudent business operations, with the 'Code of Financial Discipline' as a key principle in managing risks and ensuring long-term stability for the organization.
  • Stay updated on all new projects from AP, including single houses, townhomes, duplexes, and condominiums throughout 2026. Click here.

AP Thailand Public Company Limited, or AP, a leading real estate developer in Thailand, under the promise of 'A Good Life You Can Choose,' announces its achievement in maintaining the highest level of financial stability. Recently, TRIS Rating announced the retention of the company's corporate credit rating and unsecured debentures at 'A' with a 'Stable' outlook for the fourth consecutive year, reinforcing the organization's strength, business operations, financial status, comprehensive and diverse product portfolio, and stable growth performance, along with a moderate debt burden and ample liquidity.

This achievement is the result of driving the organization under the framework of 'CODE OF IN-DEPTH UNDERSTANDING' to deliver the best quality of living, adhering to the 'Code of Financial Discipline,' a strict financial discipline principle that ensures stability and long-term business security for AP.

'Code of Financial Discipline' is a key principle for stable and sustainable business operations. Mr. Ratchayut Nuntachotisophon, CEO of AP Thailand Public Company Limited, stated, 'Maintaining an 'A' credit rating with a 'Stable' outlook for four consecutive years amidst a volatile economy is not just a financial success for the company but also the confidence that AP provides to its customers and families.'

AP operates under the 'Code of Financial Discipline,' a key principle for stable and sustainable business operations, managing risks and financial structures rigorously, ensuring customers that every horizontal project and condominium by AP will be developed to completion and delivered on time, without the risk of project delays, allowing every family to start 'A Good Life You Can Choose' with peace of mind and stability in all market conditions.

TRIS Rating Guarantees Strong Potential, Market Share Soars to 19%, Capturing Nearly One in Five in the Industry.

A report from TRIS Rating clearly indicates AP Thailand's competitive capability, as the company has maintained its position among the Top 3 residential developers listed on the Stock Exchange of Thailand for the past five years, with a high transfer value of joint venture (JV) projects ranging from 40,000 to 49,000 million baht.

Importantly, AP also showcases its leap in growth potential by expanding its market share, which has nearly doubled from 12% in 2021 to 19% in 2025, capturing nearly one in five compared to other rated real estate developers by TRIS Rating, distancing itself from competitors and reflecting a strong revenue base and excellent long-term customer feedback.

Continuing its proactive strategy, launching new projects throughout the year with a total of 42 new projects worth 55 billion baht.

The business drive plan includes launching 42 new projects worth a total of 55 billion baht throughout 2026, reflecting a strong and highly flexible product portfolio covering all forms of housing, including 11 new single house projects worth 14.4 billion baht, 16 new townhome and duplex projects worth 17 billion baht, 7 new condominium projects worth 15.6 billion baht, and 8 new regional projects worth 8 billion baht.

Furthermore, AP Thailand has set a target for total sales and revenue (100% JV) for the year 2026 at 49 billion baht to drive the company's growth forward sustainably. The first quarter performance is strong, with total revenue (including 100% JV) growing by 11%, accumulating a solid backlog of 39 billion baht.

This aligns with the overwhelming trust of customers in AP's projects across over 200 projects nationwide, resulting in the first quarter of 2026 (1/2026) where AP Thailand achieved outstanding results with total revenue (including 100% JV) reaching 10.554 billion baht, an increase of 11% compared to the same period last year, and a net profit of 903 million baht, while maintaining the highest financial stability with total assets of 87.646 billion baht and a safe net debt-to-equity ratio of only 0.64 times. Moreover, the company has a strong and dense backlog of over 39.626 billion baht (as of April 30, 2026), divided into a horizontal project portfolio of 18.476 billion baht and a condominium portfolio of 21.150 billion baht, with the latter set to gradually recognize revenue continuously from the delivery of 5 new condominium projects throughout the year, ensuring a steady cash flow and sustainable growth in the future according to the set targets.