Mr. Vittakarn Chandavimol, Chief Corporate Strategy and Creation, AP Thailand Public Company Limited (SET: AP), said that despite improvement in the pandemic situation, everyone in the world is about to face an inflation where rising prices of goods will affect the economy of virtually every country. What AP has been doing, according to Mr. Vittakarn, is closely monitoring the situation in order to keep its action plans up to date as the company manages its costs to keep the current sale prices intact so that its customers are least affected by the inflation.
As a result of the adjustment, in the first half of the year the company was able to reach a new high once again for its pre-sales and ownership transfers. During the first half of 2022, AP recorded Bht 25,530 million of sales, an increase of over 43% on the same period of last year. In particular, the company’s superstars like single detached homes and townhomes grew by leaps and bounds resulting in a 25% growth of AP’s low-rise portfolio. The company’s condominium business also enjoyed a strong sales growth at almost 3 times, which has sent a positive sign to the property market. All this is an organic growth and shows AP’s potential to stay resilient in all circumstances.
The company is on track to break through every limit. In the second half of 2022, it plans to have as many as 160 projects worth Bht 122,350 million readily available for sale across Bangkok and the provinces. They include 40 new projects worth around Bht 53,620 million scheduled for the second half of the year. Of these projects, 16 are townhome developments worth Bht 16,440 million, 18 are single detached home developments worth Bht 24,030 million, 3 condominium developments worth Bht 10,400 million and 3 projects in the provinces worth Bht 2,750 million and the company is offering for sale 120 projects under construction. All this has reflected the company’s preparedness in every respect whether it be in cost management, workforce planning and administration to cope with the large number of development projects and uncertainties.
Among the highlights of interest in the second half of the year is the distribution of AP’s successful single detached homes and townhomes into nearby provinces such as Samut Prakan, Samut Sakhon, Nonthaburi and Pathum Thani in response to demand from a broadening target group as the company promises Cheevit Dee Dee Tee Lueak Eng Dai with new products and home models.
The Townhome Business Group will follow its road map to “Unlock Vertical Life” by offering 20 new townhome models from six quality brands with the launch of 16 new projects, including the comeback of the brand Baan Klang Muang CLASSE initially at Sukhumvit 77. For the Single Detached Home Business Group, a range of all-new home models will be on offer under the “Functional is Beautiful” concept – a home that understands life. There will be 18 new projects as the company plans to add single detached homes at Bht 3-5 million to its portfolio along with other brand new products to be launched in the 4th quarter of the year.
For the Condominium Business Group, the first of the year saw the company having success with its forays into the mass condominium segment with the brand ASPIRE. More than 44% of ASPIRE Pinklao – Arun Amarin and ASPIRE Ratchayothin have been sold. In the second of half of the year, the company plans to launch a further three projects worth Bht 10,400 million. They include ASPIRE Sukhumvit – Rama 4, ASPIRE Onnut Station and LIFE Phahol – Ladprao. Also in the second half of the year, to realize revenues the company will transfer ownership in two ready-to-move-in condominiums, namely LIFE Sathorn Sierra and RHYTHM Ekkamai Estate.
The company will continue to operate with the main commitment to deliver Cheevit Dee Dee Tee Lueak Eng Dai, under a cautious business plan and a readiness to adapt quickly with centralized management and prudent cash management.