- AP Thailand, with ‘Cheevit Dee Dee Tee Lueak Eng Dai’ brand promise, says 2022 was more than new high record but comprehensive breakthrough, leading in all-around growth with net presales topping Bht 50,415 million, transfer value estimated at around Bht 48,000 million
- New year sees company pursuing 2023 AP INCLUSIVE GROWTH plan with 3 key strategies to innovate and create more business opportunities and advantages
- DIVE DEEPER IN PROPERTY BUSINESS to lead in residential property industry via 3 main business groups: condominium, SDH and Townhome, with 58 projects worth Bht 77,000 million in the pipeline; 2023 will see readily available 192 projects worth Bht 165,600 million spread across Thailand for Bht 58,000 million in projected presales and Bht 57,500 million in projected revenues earned
- HATCH NEW BUSINESS to build on property expertise by identifying new market opportunities to support business sustainability after successful launch of FitFriend trainer delivery for healthy living trend for which over 6,000 classes were sold in a year
- PEOPLE & SOCIAL – AP will drive inclusive social growth as it intends to be people-oriented organisation by providing skills of the future to everyone, whether they be its employees, university students or graduates with disabilities so they can live with Cheevit Dee Dee Tee Lueak Eng Dai
- Single Detached Home Business Group highlight includes plans to win share in market for luxury homes worth Bht 20 – 100 million with new models of THE CITY 100 square wah, upscale luxury mansion THE PALAZZO targeting wealthy homebuyers and Baan Klang Krung for city-centre residents
- Townhome Business Group aims to rule urban duplex segment with new design 3-storey and 2-storey duplexes highlighting 13.5 metre wide frontage as well as Baan Klang Muang CLASSE Ratchayothin in city-centre luxury townhome segment
- Condo Business Group set to take advantage of industry rebound with 4 projects set to realize big revenues as AP looks to continue 10 years of partnership with Mitsubishi Estate Group further reinforcing confidence it has in being the only joint venture company to pursue long-term collaboration
2023 AP Inclusive Growth – the ultimate year of growing together
Mr. Vittakarn Chandavimol, Chief Corporate Strategy and Creation, AP Thailand Public Co., Ltd., said that last year was intended to be the ultimate year of moving forward to overcome all obstacles with a business plan that created a sensation and reinforced the company’s position as an industry leader. For this year, he said the company is ready to open a new business chapter under 2023 AP INCLUSIVE GROWTH strategy where AP looks to make this year the ultimate year of growing together with plans to create new things while further expanding its business using its expertise to create new opportunities and advantages in various respects in line with its philosophy to bring customers Cheevit Dee Dee Tee Lueak Eng Dai. According to Mr. Vittakarn, the company will achieve that by executing the following 3-key strategic action plans:
- DIVE DEEPER IN PROPERTY BUSINESS to lead in the residential property sector via three main business groups, namely condominium development, single detached home development and townhome development. This year the company will continue aim to challenge itself more with plans to launch the highest value of new projects in the industry – a total of 58 projects worth a total of Bht 77,000 million, comprising 22 single detached home projects worth Bht 34,800 million, 27 townhome projects worth Bht 26,400 million, 4 condominium projects worth Bht 11,800 million and 5 projects upcountry worth Bht 4,000 million. This means that AP will have 192 projects worth over Bht 165,600 million in Bangkok and the provinces readily available for sale the whole year. For 2023, it aims for a total presales target of Bht 58,000 million with total revenues target, including those from 100% JV, projected at Bht 57,500 million.
- HATCH NEW BUSINESS to build on its expertise in the property sector by identifying new market opportunities. It will use its resources to hatch a new generation of thinkers and creators that will create new businesses useful for the whole company in the long term, whether it be for new property business diversification or for supporting other AP businesses such as SMART Service and Management (SMART) or Bangkok Citismart (BC) – its full-service property brokerage, among others. The company successfully launched FitFriend trainer delivery in response to the modern health trend. Last year, FitFriend provided over 6,000 classes. Today, we have over 100 trainers in the system, all of them have been certified by leading institutions and have had their criminal records checked. Therefore, you can rest assured that the standards of FitFriend trainers are no different from those of the well-known fitness centres. We are also proud that in addition to providing services to the general public via Line Official-FitFriend, FitFirend has now scaled up to be one of the services under the management of SMART Service and Management making it accessible to residents at over 370 SMART-managed projects.
- PEOPLE & SOCIAL to drive society to grow together on a mission to be a people-oriented organsation by making skills of the future accessible to everyone, whether it be AP employees or university students or graduates with disabilities so that everybody can live with Cheevit Dee Dee Tee Lueak Eng Dai. The company has carried out the mission through ongoing social initiatives such as AP OPEN HOUSE, a dream internship programme now in its 8th year running and said to be the best of its kind in Thailand or I AM POWER campaign designed to empower university graduates with disabilities by enabling them to access new essential work skills.
Mr. Maytha Rakthum, Chief Business Group, Townhome, AP Thailand Public Co., Ltd., said that last year the company’s Townhome Business Group enjoyed a higher margin of growth rate, especially in presales where it recorded 30% growth in 2022 and a growth of more than 90% on 2019. This year the business group is aiming for a continued growth on a roadmap to Unlock Vertical Life so as to maintain a leading position in the urban townhome market.
This year the Townhome Business Group will launch a total of 27 new projects worth Bht 26,400 million across all 6 sub-brands on offer for Bht 1.69 – 25 million. The main highlight will be an expansion of its duplex portfolio with Baan Klang Muang THE EDITION, a 3-storey duplex brand that comes with a maximum frontage width of 12.8 metre and Grande Pleno, a 2-storey duplex with a 13.5 metre frontage as well as the launch of Luxury Townhome in this year’s new location, namely Baan Klang Muang CLASSE Ratchayothin, with a tentative launch date set in the third quarter.
Mr. Ratchayud Nunthachotsophol, Chief Business Group, Single Detached Home, AP Thailand Public Co., Ltd., said the Single Detached Home Business Group plans to launch way greater value and number of new projects. This year, he said, 22 new single detached home projects worth Bht 34,800 million will be launched with the main highlight being and entry into the upscale market in two segments, namely Luxury at Bht 20 – 50 million and Super Luxury at Bht 50-100 million. In the pipeline are THE CITY’s new single detached home models on 100-127 square wah with functional areas of around 386-560 square metres.
There are a total of 3 projects, namely THE CITY Charan-Pinklao, comprised of 58 units, valued at Bht 1,350 million. Available in 4 models, the project stands out for its British style with an attic; THE CITY Pinklao-Borom 3 with 68 units, valued at Bht 1,420 million. It is available in 3 Modern Classic style models; and THE CITY Sukhumvit-Onnut 2 with a total of 64 units, valued at Bht 1,380 million. All of them will be ready to go on sale within the first quarter.
In addition, the Single Detached Home Business Group will not stop looking at more opportunities to develop single homes in urban areas. We are aiming to launch Baan Klang Krung’s 4-5 storey single homes in urban locations after having great success with Baan Klang Krung Sathupradit-Rama 3, which was launched in 2021. It also has plans to offer upscale versions of THE PALAZZO luxury mansion for wealthy customer groups.
Ms. Kamolthip Bumrungchatudom, Chief Business Group, Condominium, AP Thailand Public Co., ltd., said the condominium market this year should recover and, more or less, get back to the state of its pre-COVID-19 years judging from AP’s condominium sales in 2022 where a four-fold growth was recorded on presales of Bht 11,440 million. This year, the Condominium Business Group plans to launch 4 new condominium projects worth Bht 11,800 million. Apart from the planned new projects which the group will go full steam ahead with to get off the ground, one thing it will do to help AP achieve inclusive growth is build on its partnership with Mitsubishi Estate Group.
This year marks 10th anniversary of the collaboration between AP Thailand and Mitsubishi Estate Group. Together, both companies have developed a total of 21 condominium projects worth a total of more than Bht 100 billion and they still share a vision of working together to ensure that condominium development in Thailand will contribute to more inclusive living.
Moreover, this year the Condominium Business Group will deliver 4 ready-to-move-in condominium developments worth Bht 16,200 million, including one in the Prestige Lux segment THE ADDRESS Siam-Ratchathewi tentatively in the third quarter, and in the Luxury segment with RHYTHM Charoenkrung Pavillion which already has the residential building opened and ownership in units transferred as well as 2 ASPIRE projects namely ASPIRE Pinklao-Arun Amarin and ASPIRE Rattanathibet Weston, both of them represent a new concept of ASPIRE Condo and are the first completely built developments of the concept.