Developer AP unveils business plan for 2018
Property developer AP (Thailand) believes the industry will grow continuously, so it will move full-steam ahead to capitalise on the market trend.
It said this year’s presales are projected at Bt33.5 billion with total revenue turnover projected to reach Bt28.1 billion based on its plans to launch 34 new projects worth Bt49 billion, comprising four condominium projects worth Bt19 billion and 30 low-rise projects worth Bt30 billion.
The company said it aims to achieve further success through five strategic drivers: building on successful partnership with Mitsubishi Estate; launching super luxury products; making a difference through mass-customised design in low-rise developments;) expanding international portfolio; and developing digital innovation for good quality of life.
Last year AP recorded over Bt42.900 billion in presales, exceeded its Bt26 billion projected presales goal in 2017, representing 92 per cent growth, compared to Bt22.365 billion projected presales in 2016.
According to Anuphong Assavabhokhin, chief executive officer, in 2018 the company will continue to work for its major goal of making AP a top-three company in Thailand’s real estate industry under the main mission to deliver good living quality in every aspect.
In the pipeline to be launched this year are 34 projects worth Bt49 billion, of which four are condominium projects worth Bt19 billion and 30 are low-rise developments worth Bt30 billion. Presales from these developments are projected at Bt33.5 billion.
Total revenue turnover in 2018 is projected at Bt28.1 billion.
In the fifth year of partnership with Mitsubishi Estate, the companies will continue to develop middle-to high-end condominiums together. They have signed an agreement to invest in four new condo projects worth around Bt23 billion. This March, AP will be ready to start selling the first of their projects – Life Sukhumvit 62. To date, AP and Mitsubishi Estate Group have 15 condo projects worth up to Bt73 billion in their portfolio.
In 2018, AP will unveil many new house models in the launches of the 30 low-rise projects worth around Bt30 billion. These include 17 townhome projects worth Bt15.3 billion and 13 detached house projects worth Bht 14,700 million.
