- AP Thailand reigns supreme in residential properties with a promise of Cheevit Dee Dee Tee Luek Eng Dai reinforcing #APThaiNo1propertydeveloper that consumers trust with total revenues for the first half of the year at Bht 21,130 million and hefty net profit of Bht 2,277 million
- Strong performance attributed to growing transferred condo portfolio which enjoyed great feedback and low-rise products, including twin homes, townhomes and single homes which grew well in every segment across all the best locations
- Unmatched financial strength helped by stringent discipline with debt to equity at only 0.83 and confidence in adequate cashflow to support operations in the long term
- Highlight includes planned launches of 25 new projects worth Bht 27,440 million to add to the existing 177 projects being sold and transferred, including twin homes, townhomes and condominiums in all Bangkok and provincial locations
Mr. Vittakarn Chandavimol, Chief Corporate Strategy and Creation, AP Thailand Public Co., Ltd., Thailand’s leading property developer with a promise of Cheevit Dee Dee Tee Lueak Eng Dai has shared the company’s operating results for the first six months of 2024 (Jan-Jun) revealing that AP had enjoyed a strong growth with total revenues from low-rise products, condominiums (100% JV) and other businesses at Bht 21,130 million, the highest in the residential property industry.
In the same period, the company recorded a net profit of Bht 2,277 million.
In the second quarter of 2024, the company recorded total revenues from low-rise products, condominiums (100% JV) and other businesses at Bht 11,561 million, a growth of 20.8% on the previous quarter. Its net profit rose 25.8% from the previous quarter to Bht 1,268 million.
#APThaiNo1propertydeveloper. The strong revenues were attributed to sales and ownership transfers, particularly from AP’s move-in ready condominium portfolio which enjoyed significant growth thanks to a number of outstanding features, including superior quality, design and affordability, making them able to win the hearts of customers who overwhelmingly agreed to have ownership transferred as planned in every segment, be it THE ADDRESS Siam-Ratchathewi, ASPIRE Ratchayothin and ASPIRE Erawan Prime.
Low-rise portfolio contributed greatly to the company’s strength with AP’s twin homes, townhomes and single detached homes continuing to command the largest market share. This was particularly helped by the company aggressively making its presence in the market for twin homes under the brand Baan Klang Muang THE EDITION for a portfolio of 3-storey twin homes and GRANDE PLENO for 2-storey twin homes. Rare locations in super prime areas in the city were also sought for the launch of Baan Klang Muang CLASSE – AP’s luxury brand of townhomes and twin homes, which received better-than-expected feedback from home-buyers in every location. AP’s newly launched townhome and twin home projects enjoyed impressive sales in every segment, with the top 3 best sellers during pre-sale periods being Baan Klang Muang THE EDITION Bangna, PLENO Suksawat – Prachauthit 60 and PLENO Donmuang.
From the month of August onwards, the company plans to launch 25 new projects worth around Bht 27,440 million. They include 10 twin home and townhome projects worth
Bht 8,190 million, 8 single detached home projects worth Bht 11,350 million, 3 condominium projects worth Bht 4,700 million and 4 provincial projects worth BHt 3,200 million. Therefore, in the second half of the year, the company will have a total of 202 projects worth
Bht 151,411 million ready for sale in Bangkok and the provinces.
