AP Maintains Project Launch Schedule and Revenue Target

Listed developer AP (Thailand) is on schedule with 19 planned residential projects  this year, including condominiums, singles houses and townhouses. Seven of the projects, with a combined value of THB 10.52 billion, have already been launched. Worth a total of THB 23.7 billion, AP’s projects face improved prospects after residential demand recently showed signs of picking up throughout the year.

In an article by The Nation, AP’s chief marketing officer Vittakarn Chantavimol explained, “We saw the market starting to recover in the last two weeks. The number of customer visits [to AP projects] increased by about 20 percent. More than 20 percent of them were ready to make the decision to buy. This is better than the last six months during the political conflict.”

Four projects will debut this month, including three townhouse developments under the Baan Klang Muang brand at Suksawat, Vipawadee and Radchayothin; and a detached housing project called Palazzo Ratchaphreuk. The remaining eight projects will be unveiled during the second half of the year.

The projects will lift presales by 38 percent to the firm’s target of THB 21 billion this year — an increase from THB 15 billion last year. AP is also maintaining its 2014 revenue target at THB 21 billion.

Also, Mr. Chantavimol said that AP enjoys a customer loan rejection rate of around 10 percent, which is lower than the industry average, “so we believe that we can transfer our units and generate revenue to meet our target.” He also shared that developer and investor sentiment is improving, with renew development activity in the market.