AP (Thailand) Public Company Limited (AP) has been keeping its good momentum going and started the year 2021 with first-quarter presales totaling 7,966 million baht, attributable to the 113 projects it has across the country.
The good performance reflects the company’s strength from within coupled with efficient management of its product portfolio and distribution. In the second quarter, low-rise properties will continue to be the year’s superstars as the company prepares to launch 5 new low-rise projects and keeps the organisation ready to cope with changing rules of the world with a commitment to ‘EMPOWER LIVING’.
Mr. Vittakarn Chandavimol, Chief Corporate Strategy and Creation, said that the overall property industry in the second quarter is believed to be still awaiting recovery. While demand will continue to mirror the overall economy, on the supply side new product launches will continue to come from a few major players.
For condominiums, the market sentiment is expected to improve in the second half of the year, but it will take a long time before the market gets back to the pre-COVID-19 state. Low-rise products will remain superstars for another year.
In the first quarter of this year, the company was able to reach 7,966 million baht in presales from its 113 existing projects nationwide, an increase of 32% on the same period of 2020 when it recorded presales of 6,045 million baht.
Low-rise presales account for 7,293 million baht, reflecting customer confidence in the single detached houses and townhomes AP has across Bangkok or new markets in 5 provinces, namely Khon Kaen, Rayong, Nakhon Si Thammarat, Ayutthaya and Chiang Rai – all contributed to the remarkable sales growth amid market uncertainty.
As for the opportunity for property developers to survive the ripple effect of the COVID-19 pandemic, Mr. Vittakarn said that in addition to having plans for internal organisational management to build up corporate strength, portfolio management to have readily available products for sale all the time across multiple locations to create sales chances and competitive advantage is another way to bring success for today going forward towards the main EMPOWER LIVING goal to create and provide products and services that empower AP customers and related parties to live a good life on their own terms.
For the second quarter of the year, the company plans to launch 5 low-rise projects worth around 2,660 million baht. All of them will be offered for sale in June this year. They include 2 single detached house developments worth 1,650 million baht, namely 1) Centro Phahol – Vibhavadi 2, comprised of 249 units worth 1,250 million baht 2) Centro Ratchapruek – Suanpak 3, comprised of 43 units worth 400 million baht as well as 3 townhome projects worth Bht 1,010 million, namely.
3) Pleno Bangna – Onnut 2, comprised of 233 units worth 570 million baht 4) Pleno Pinklao – Charan 2, comprised of 86 units worth 330 million baht, including home offices and 5) District Ramintra – Chatuchot, comprised of 20 units worth 110 million baht.
In 2021, AP will have 145 projects worth over 118,128 million baht under development around the country. They include 34 new projects launched in 2021, worth around 43,000 million baht (2 projects worth 2,300 million baht have been launched), 30 of which are low-rise projects worth around 28,800 million baht and 4 condominium projects worth around 14,200 million baht, to be launched in the second half of the year, as well as 113 existing projects valued at around 77,428 million baht, across several locations in Bangkok and the provinces (included 2 new projects have been launched).
In 2021, the company targets 43,100 million baht in revenues (100% JV included) and projects presales of 35,500 million baht.
In the first quarter of this year, the company launched in February 2 projects, namely Apitown Chiang Rai and Apitown Ayutthaya, both valued at a total of 2,300 million baht. It was able to close 300 million baht worth of presales, which was a testament to the confidence and trust customers in major cities have in AP’s brands and AP-developed properties.