AP goes for Bt22 bn in pre-sales via 16 projects

“We see strong demand in the market for low-rise residences such as single family homes and townhouses and for condominiums,” Vittakarn Chandavimol, chief marketing officer, said yesterday.
Four projects worth Bt3.23 billion will be single family homes, nine projects worth Bt6.6 billion will be townhouses and three projects worth Bt4.93 billion will be condos. One condo project will be located in Phitsanulok. It will be the second condo project in the provinces, following Udon Thani early this year, which is already 80 per cent sold out.
The market has faced high |competition since the first half of |this year. AP has to speed up its |presales as it achieved only Bt8 |billion in the first half of this year.
The company is spending Bt250 million out of its Bt400 million marketing budget for this year on a special campaign called “Live More: AP” to give its brand a younger look. It wants the upcoming generations to be its new customers.
Following the campaign, the company will stage three events next
 quarter to promote its three product categories. The first two events will run from July 25-31 and September 19-25 at Central Lat Phrao for townhouses and single family homes, respectively. The last one from August 15-18 at Siam Paragon will introduce its condo projects.
The company targets Bt7 billion in pre-sales from the three events.

TARGET UNCHANGED
The company has maintained its total revenue target of Bt20 billion this year. Some of that will come from its Bt32.38 billion backlog of units already sold and waiting to be transferred to buyers. Of its backlog, Bt5.2 billion represents single family homes and townhouses and Bt27.17 billion condos.
“Nearly Bt10 billion of condo projects will be transferred in the second half of this year, while the Bt5.2 billion of townhouses and single family homes also will transfer in the second half of this year,” he said.
AP earned Bt222.68 million on revenue of Bt2.8 billion last quarter.