– AP Thailand, under the promise of Cheevit Dee Dee Tee Lueak Eng Dai, has announced its long-term CODE OF IN-DEPTH UNDERSTANDING strategy — systematically strengthening the organisation through deep empathy in every dimension, alongside disciplined and prudent business execution

– Introducing the AP CODE, a core philosophy that begins with a profound understanding of customers’ real quality of life — the driving force behind its industry leadership. This unified standard connects the entire organisation to deliver Living Quality and comprehensive competitive advantage

– The CODE OF IN-DEPTH UNDERSTANDING is built upon 5 strategic pillars: 1. Code of Empathy – A development standard driven by deep understanding of how people truly live; 2. Code of Financial Discipline – A financial governance standard ensuring stability; 3. Code of Global Partnership – A standard of international collaboration; 4. Code of Organisation Capability – A standard strengthening organisational capability for sustained competitive advantage; 5. Code of Sustainable Impact – A sustainability standard delivering quality of life to people, society and the planet

– Amid multi-dimensional challenges, in 2026 the company plans to launch 42 new projects worth Bht 55,000 million, targeting Bht 49,000 million in sales and Bht 49,000 million in revenue recognition, with a land acquisition budget of Bht 15,000 million

– Low-rise Business Group will introduce 35 new projects valued at Bht 39,400 million, expanding its portfolio in high-potential locations nationwide. This strengthens its leadership in value-enhancing locations while accelerating provincial expansion under the ‘Location in Location’ strategy across Thailand

– Condo Business Group will launch 7 new projects in prime locations worth Bht 15,600 million, while preparing to recognise revenue from the transfer of 5 completed ready-to-move-in developments

– For updates on all new single detached home, twin home, townhome and condo projects from AP throughout 2026, click https://apthai.ly/APThai26

Mr. Ratchayud Nunthachotsophol, President of AP Thailand Public Co., Ltd., stated that

AP Thailand remains firmly committed to its vision of “EMPOWER LIVING – Cheevit Dee Dee Tee Lueak Eng Dai.” To further strengthen AP Thailand and secure its long-term growth, the company has defined its strategic direction under the framework of ‘CODE OF IN-DEPTH UNDERSTANDING – Leading with Empathy, Growing with Discipline. At the heart of this strategy is a systematic approach to building organisational strength through deep empathy in every dimension, alongside disciplined and prudent and business execution. Guided by the AP CODE, the company sets standards that begin with a profound understanding of customers’ real-life needs and quality of life. This framework serves as the principle and benchmark for our products, services and operational processes across all core functions — with the goal of enhancing living quality and delivering “Cheevit Dee Dee Tee Lueak Eng Dai” to customers across every single-detached home, townhome, twin home, and condominium project.

Mr. Ratchayud added,

“AP CODE is not limited solely to design and construction standards; it is a comprehensive operational framework that encompasses every dimension of the organisation. It begins with a deep understanding of customers’ lives at every stage and is built upon extensive accumulated experience, strengthened by the continuous development of internal expertise and the transfer of well-rounded perspectives from our Japanese partners. AP CODE serves as the organisation’s core philosophy, guiding all AP employees — across every function — to operate in alignment with clearly defined principles and standards.”

An In-Depth Look at the ‘CODE OF IN-DEPTH UNDERSTANDING’:

Five Pillars Delivering Living Quality

The CODE OF IN-DEPTH UNDERSTANDING strategy is translated into tangible action through five core pillars.

Pillar 1: Code of Empathy – A development standard driven by deep understanding of how people truly live

This framework for product and service development begins with comprehensive insight into customers’ lives in every dimension, with Empathy as the key to identifying and addressing unspoken needs. It informs every stage of the process — from land acquisition and design philosophy to construction quality control and after-sales service — all guided by a single principle: understanding real life.

For example, AP Thailand’s product design standard incorporates the concept of In-Depth Multi-Persona Customisation, a project development process derived from analysing the diverse life roles customers undertake at different stages of their lives. AP Thailand continues to manage its product portfolio with broad segmentation coverage, spanning single detached homes, townhomes, twin homes and condominiums — across 18 brands across priced from Bht 2–120 million, reflecting its position as a multi-tier property brand catering to both entry-level and upper-end segments. This is complemented by targeted design development, with offers more than 600 ready-to-build home designs across over 200 projects nationwide. All 42 new projects scheduled for launch this year will be developed under the same unified standard.

Pillar 2: Code of Financial Discipline – A financial governance standard ensuring stability

Financial discipline is regarded as the oxygen that sustains the business. The company places the utmost importance on maintaining strict financial discipline, consistently managing its debt-to-equity ratio at 0.64. This ensures strong liquidity, flexibility in capital management and the ability to access diversified funding sources. Such discipline establishes a structural competitive advantage, enabling AP to remain resilient during periods of market volatility. The company’s financial stability is reflected in 4 key factors:

– Bank Available Credit – Available credit facilities from financial institutions totaling more than Bht 18,880 million.

– Joint Venture Investment – Strategic capital investment from Japanese partner Mitsubishi Estate, with registered capital in subsidiary companies exceeding Bht 12,619 million.

– Cash Inflow – Recurring cash flow from sales and property transfers across more than 200 projects nationwide, covering all segments.

– Capital Market Confidence – Strong investor confidence, demonstrated by oversubscribed debenture issuances and a corporate credit rating of A with a “Stable” outlook for the 3^rd consecutive year from TRIS Rating.

Pillar 3: Code of Global Partnership – International collaboration standards elevating quality in every dimension

This pillar reflects AP’s ability to integrate international standards into the Thai market in a tangible way. It underscores the company’s long-standing strategic partnership with Mitsubishi Estate of Japan. The essence of this pillar lies not merely in joint investment figures, but in the transfer of institutional knowledge — encompassing systematic thinking, Japanese working discipline, construction quality standards, project management expertise, community development approaches and sustainability principles.

This year, the company continues to advance its condominium development collaboration. A total of 32 joint venture projects are being developed together, representing a combined value of over Bht 140,000 million — the highest joint venture value in the industry.

Pillar 4: Code of Organisation Capability – A standard strengthening organisational capability for sustained competitive advantage

This pillar establishes a framework that enhances capability multiplier, spanning leadership structure, people development, technology adoption and data-driven decision-making. It ensures that every function operates in an integrated and highly efficient manner. The company places strong emphasis on holistic organisational development through the application of Data, AI and advanced technologies — enabling AP to be fully prepared, highly agile and responsive, while maintaining the highest standards of accuracy and precision in execution.

Pillar 5: Code of Sustainable Impact – A Sustainability Standard Delivering Quality of Life to People, Society and the Planet

This framework integrates ESG principles into every stage of operations — from energy- and environmentally-conscious design, collaboration with strategic sustainability partners in environmental solutions, energy and quality construction materials, to construction waste management and the creation of green spaces that enhance surrounding communities. The ultimate objective is to ensure long-term sustainability in quality of life for individuals, society and the planet. Key initiatives include:

The ‘Yom Pa’ (Pocket Forest) project, increasing green spaces and promoting biodiversity.

Waste Management initiatives aimed at reducing greenhouse gas emissions, including the design of the ‘Eco Waste Station’, embedded from master planning through to encouraging responsible waste separation behaviour among residents. The ‘Never Waste Again’ initiative, launched this year in collaboration with Q-CON, which reintegrates construction waste into the production process to create new materials.

All 5 pillars serve to drive the ‘CODE OF IN-DEPTH UNDERSTANDING – Leading with Empathy, Growing with Discipline’ strategy. This approach extends beyond quantitative growth, reinforcing structural strength in a comprehensive and sustainable manner — to deliver “Cheevit Dee Dee Tee Lueak Eng Dai.” to customers, while securing enduring competitive advantage.