Presales projected at Bht 33,500 million, turnover at Bht 28,100 million in 2018
To build on successful partnership with Mitsubishi Estate, make a difference through mass customized design and develop digital innovation for good quality of life
AP (Thailand) Public Company Limited, the leading developer of residential properties, today shared its optimistic vision of Thailand’s real estate sector. The company believes the industry will grow continuously, so it will move full steam ahead to capitalize on the market trend. This year’s presales are projected at Bht 33,500 million with total revenue turnover protected to reach Bht 28,100 million based on its plans to launch 34 new projects worth Bht 49,000 million, comprising four condominium projects worth Bht 19,000 million and 30 low-rise projects worth Bht 30,000 million. The company aims to achieve further success through five strategic drivers: 1) building on successful partnership with Mitsubishi Estate 2) launching super luxury products 3) making a difference through mass customized design in low-rise developments 4) expanding international portfolio 5) developing digital innovation for good quality of life, after last year it recorded over Bht 42,900 million in presales, exceeded its Bht 26,000 million projected presales goal in 2017, representing 92% growth, comparing its bht 22,365 million projected presales in 2016.
According to Mr. Anuphong Assavabhokhin, Chief Executive Officer of AP (Thailand) Public Co., Ltd., in 2018 the company will continue to work for its major goal of making AP a top 3 company in Thailand’s real estate industry under the main mission to deliver good living quality in every aspect. In doing so, it will keep innovating for Thailand’s real estate sector and has plans to set up a special unit to explore for, discover and develop innovations that promote and improve new living experiences complete with quality, convenience and safety for better living quality truly desired by customers in the long term. In the pipeline to be launched this year are 34 projects worth Bht 49,000 million, of which 4 are condominium projects worth Bht 19,000 million and 30 are low-rise developments worth Bht 30,000 million. Presales from these developments are projected at Bht 33,500 million. For total revenue turnover in 2018, it is projected at Bht 28,100 million. The company will achieve business success through five business drivers: 1) building on successful partnership with Mitsubishi Estate 2) launching super luxury products 3) making a difference through mass customized design in low-rise developments 4) expanding international portfolio 5) developing digital innovation for good quality of life.
AP (Thailand)’s business plan for 2018 includes:
1. Building on successful partnership with Mitsubishi Estate. In the fifth year of partnership with Mitsubishi Estate, both companies will continue to develop middle-to high-end condominiums together. They have signed an agreement to invest in four new condominium projects worth around Bht 23,000 million. This March, AP is ready to start selling the first of their projects which is LIFE Sukhumvit 62. To date, AP and Mitsubishi Estate Group have 15 condominium projects worth up to Bht 73,000 million in their portfolio.
2. Launching super luxury products under consumer-favourite brands. This year’s highlight will be the re-development of AP’s hugely successful super luxury brands that are well received among consumers. These include THE ADDRESS condominium brand and THE PALAZZO luxury mansion brand. The purpose is to satisfy the needs of upmarket customers looking for premium residences in high-potential locations. The timing for the launches is expected to be in the second half of the year.
3. Making a difference through mass customized design in low-rise developments. This year, AP Design Lab will not stop making a difference to home design and functionality to better meet specific needs. To date, AP has offered more than 70 house models across its detached house and townhome projects in several locations. In 2018, AP will unveil many new house models in the launches of the 30 low-rise projects worth around Bht 30,000 million. These include 17 townhome projects worth Bht 15,300 million and 13 detached house projects worth Bht 14,700 million. The main goal is to make AP’s detached houses and townhomes the ultimate choice for urban family.
4. Managing international portfolio. Bangkok Citismart Co., Ltd (BC) in the AP Group is charged with the mission. As a real estate agency with businesses to buy and sell on behalf of customers, BC has been officially appointed to manage sales of AP’s condominiums in overseas markets. This followed the firm’s outstanding performance as a leading real estate broker with Bht 10,000 million in real estate sales.
5. Developing digital innovation for good quality of life. AP always looks to offer good living quality through the integration of technology into the functional space design process. Last year, AP worked together with its partners to offer several innovations that make living convenient e.g. AP Smart Pod, an intelligent locker system which allows condominium residents to receive deliveries by themselves 24/7 as more and more people turn to buying goods online or the introduction of Internet of Things technology to keep all living areas connected. In 2018, AP plans to set up a special unit to explore for, discover and develop innovations that promote and improve new living experiences complete with quality, convenience and safety for better living quality truly desired by customers in the long term.
“With our readiness in quality team, quality residential product portfolio and quality partners who share the same passion to create quality residential innovations, I believe that AP Thailand can make a difference and win consumer’s trust, and we will continue to be a top 3 real estate company in Thailand that offers residential innovation and technology of the future through continued research and development efforts to keep abreast with the future world as we strive to efficiently grow Thailand’s condominium market,” Mr. Anuphong added.
In summary, in 2018, AP Thailand plans to launch 34 projects worth around Bht 49,000 million. These include four condominium projects worth Bht 19,000 million and 30 low-rise projects worth Bht 30,000 million. The company has presales from in projects projected at Bht 33,500 million and total revenue turnover for 2018 at Bht 28,100 million. In the first half of the year, the company will launch 12 new projects worth Bht 14,900 million. These include 10 low-rise projects, comprising two detached house projects and eight townhome projects worth a combined Bht 9,900 million, and two condominium projects, namely Aspire Sathorn-Ratchapruek – a 32-storey building with 1,049 units worth Bht 3,000 million; What is special about it is that it is just a step of walk away from the Bang Wa BTS-MRT Interchange Station. Prices starts from Bht 1.89 million. Sales will be open on 24-25 February; and LIFE Sukhumvit 62, – a joint condominium venture 24 stories tall with 438 units worth Bht 2,000 million; The project is only 200 metres off Bangchak BTS Station. Sales will be conducted via online booking on 27 February.
The company was very successful in 2017 when it recorded Bht 42,900 million in presales from both condominium and low-rise projects, a new record high and a growth of 92% on 2016, exceeded its Bht 26,000 million projected presales goal in 2017, representing 92% growth, comparing its bht 22,365 million projected presales in 2016. The jump in presales was attributable to launches of 22 new low-rise projects – detached houses and townhomes, all of which have seen their presales growing continuously. The strong growth was also helped by the successful launch of three LIFE condominium projects, namely LIFE Ladprao, LIFE Wireless and LIFE Asoke-Rama 9 – all have been 90% sold. In addition, over 90 ongoing projects were also behind the better-than-expected business.
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