- AP Thailand with a promise of Cheevit Dee Dee Tee Lueak Eng Dai reveals operating results for the first quarter of the year where it continues to show strong growth in the industry with total revenues at THB 9.509 billion, net profit at THB 864 million and net sales at THB 12.11 billion, further strengthening its goal to be the No. 1 property developer
- Solid financial stability seen in low debt-to-equity at only 0.68, excellent cash flow and access to funding, enough to grow amid global economic turbulence
- The second quarter will see the launch of 7 new low-rise projects worth THB 12.100 billion and the ownership transfer of 3 move-in ready condominiums worth THB 8.1 billion
- Townhome and Twin Home Business for the ultimate ideal life will build on its success in expanding AP Community into new locations like Muang Ek Vibhavadi-Rangsit to advance its No. 1 position as property developer with the most projects across 11 zones – over 90 ready-to-move-in projects in total
- SDH Business is launching new projects across all segments for the first time. In the first half of this year, 5 new projects will debut under 3 quality brands, based on the concept “The Greatest Home” – the ultimate home that understands life, to fulfil every life space of every generation, with THE PALAZZO – Majestic Collection of ultra-luxury single homes, THE CITY – massive homes of 100+ square wah and CENTRO – single homes for urban families in various areas
- Condominium Business is set to transfer 3 new condominiums to let you start a life with ASPIRE Condo from AP at ASPIRE Sukhumvit-Rama 4, ASPIRE Onnut Station and ASPIRE Arun Prive worth a combined THB 8.1 billion
Mr. Vittakarn Chandavimol, Chief Corporate Strategy and Creation of AP (Thailand) Public Company Limited (SET: AP), said, “The operating results for the first quarter of this year reflect AP Thailand’s potential as a real estate company geared up to grow sustainably in the face of global economic uncertainties. We were able to record THB 12,110 million in net sales, with total revenues of THB 9,509 million and a net profit of 864 million, while maintaining solid financial stability with debt to equity at only 0.68.”
“Thailand’s economy in the second quarter remains highly challenging. We believe it won’t be an easy year, considering all the unavoidable factors still impacting from last year, despite all the measures from the government being taken to spur the economy and the real estate sector, such as the reduction of transfer-mortgage registration fees, the easing of LTV criteria for first-time home-buyers, as well as the domestic spending incentives. What enables us to stay strong in the storm is maintaining of financial stability, which is instrumental to operating in a fast-changing business landscape. At AP, we attach great importance to cash flow management, cost control and maintaining our ability to access quality funding to ensure we can progress with a solid foundation in any circumstance.”
In the second quarter, the company plans to launch 7 new low-rise projects worth a total of THB 12.1 billion, while continuing to market more than 180 ongoing projects. These will be key to generating steady cash inflow. In addition, we will be transferring ownership in 3 condominium projects worth a total of THB 8.1 billion, namely ASPIRE Sukhumvit-Rama 4 on the main Rama 4 Road near BTS Phra Khanong station featuring VERTIPLEX units, ASPIRE Onnut Station 200 metres from BTS On Nut station, and the low-rise ASPIRE Arun Prive.
The Townhome and Twin Home Business continues to pursue the business plan laid out for project development expansion into new zones such as Muang Ek Vibhavadi-Rangsit.
A pre-sale event is scheduled for Grande Pleno Vibhavadi-Rangsit – a massive twin home development being offered. It will build on the success in the Bang Na zone with the launch of Baan Klang Muang The Edition Bangna 2 – a 3-storey twin home near MEGA Bang Na.
For the Single Detached Home Business, is launching new projects across all segments for the first time. In the first half of this year, introducing 5 new projects under 3 quality brands under The Greatest Home concept – the ultimate home that understands life, designed to fulfill every life space of every generation. These include THE PALAZZO – Majestic Collection of ultra-luxury single homes which are the ultimate in exquisiteness and luxury as proof of excellence in design on a high-potential site that supports extraordinary lifestyles.
The 5 projects are 1) THE PALAZZO Pinklao – Borom – a luxury mansion project featuring a spacious clubhouse spanning 1,500 sq.m. 2) THE PALAZZO Krungthep Kreetha – a mansion that transcends luxury to become a true work of art, with a built-up area of 1,140 sq.m., and from THE CITY brand 3) THE CITY Ratchapruek-Phrannok massive single home of 100+ sq. wah. with the New Series design in British Modern Tudor architecture, thoughtfully designed to accommodate pets indoors, and from the CENTRO brand of urban family home 4) CENTRO Sathorn – Suksawat – a Modern Japanese-style home that preserves the distinctive essence of Japanese design, and 5) CENTRO Ladprao – Serithai – Modern English-style home featuring a new Rustic Farmhouse design.
In 2025, the company has set a sales target for its portfolio of properties at THB 55 billion, with total revenues, including from 100% JVs, projected at THB 52 billion. The year will see the company launching 42 new projects worth THB 65 billion. They include 15 single detached home projects worth THB 26.5 billion, 18 townhome and twin home projects worth THB 15 billion, 6 condominium projects worth THB 20.2 billion and 3 provincial projects worth THB 3.3 billion. When combined with ongoing projects, they will make AP Thailand the ultimate developer with the largest number of projects at 223 in Bangkok and nearby provinces, as well as all regions of Thailand.
