AP achieves record revenues of Bht 19,960 million
- Trend-bucking growth contributes to total revenues (100% JV) in Q2 topping Bht 13,140 million, an increase of 114% from the previous year with total revenues in first half at Bht 19,960 million representing the highest revenue growth in history
- Set to bring new superior norm to living in city-centre townhouses with THE LONGEVITY MATRIX
- ‘Baan Klang Muang – The Finest Living Norm’ highlighted as new positioning to reflect aesthetic living in 5 new locations of Baan Klang Muang on offer at Bht 3.99 million starting price
- ‘Pleno – Your Finest First Home’ – for younger generation on offer in 8 new locations at Bht 1.99 million starting price
Bangkok (11 Aug 2020) – AP Thailand proved its mettle amid a major crisis as it broke all its past records with total revenues in the second quarter reaching Bht 13,140 million. As a result, the company recorded total revenues of Bht 19,960 million in the first half of this year. The result reflected the organization’s level of preparedness and existing real demand amid the giant supernova. The company is set to move ahead with its plan to transform lives in townhomes with THE LONGEVITY MATRIX – a concept for creating a long living space superior to living in conventional townhouses by integrating living aesthetics into the design of a common area for all generations, a living space that is private and worth it as well as a quality living society in line with two new positionings: Baan Klang Muang as The Finest Living Norm and Pleno as Your Finest First Home, to be found in 13 new projects worth Bht 15,350 million on offer for Bht 1.99 – 8 million.
Mr. Pamorn Prasertsan, Chief Business Group - Townhome, AP (Thailand) Public Co., Ltd., said, “In the first half of this year, AP Thailand, with the main goal to empower living, enjoyed an enormous success in its operations. In the midst of the crisis, the company achieved record growth of revenues. In the first half of the year, it recorded total revenues from low-rise products and condominiums (100%JV) at Bht 19,960 million and (1H/2020) net profit of Bht 1,830 million. Total revenues (including 100% JV) stood at Bht 13,140 million in the second quarter when a lockdown was imposed. Despite the lockdown, the company still sold and transferred ownership in properties faster than projections, which reflected consumer confidence as well as strong purchasing power in the industry and we believe that the real estate market will slowly pick up.”
“Today, we have to admit that low-rise products have become superstars of the year and the target group for the products is of a younger generation. As we observed living and buying decision trends for townhomes, we found that customers who purchased and had ownership transferred were of a younger generation, 40% of whom were 26-30 years old. In order to further reinforce our leadership position in Thailand’s townhome market, we have decided to go ahead with our plan to transform townhome living under THE LONGEVITY MATRIX, which is a concept for creating a superior life space to conventional townhomes by integrating living aesthetics into space design in three key elements, namely 1) The development of a common area for people of any generation 2) The building of a living space that is private and worth it and 3) The building of a quality living community. All of those elements will be found in townhomes under Baan Klang Muang and Pleno brands in different dimensions as determined by each brand’s positioning for our 13 new projects worth over Bht 15,350 million,” said Mr. Pamorn.
“Baan Klang Muang is one of AP’s hero brands driving our low-rise operations. It is so well accepted among urban customers in the upper middle segment that it has been the leader in high-end 3-storey townhome segment for 29 years. We have never stopped challenging ourselves to get better results. And in the second half of this year, AP is set to re-position the brand again to better meet changing needs of customers. Under The Finest Living Norm of Baan Klang Muang concept, we highlight The Finest Living Norm that makes living at Baan Klang Muang characteristic. The norm is comprised of three main values (1) the value of living privacy (2) the value of living close to city-centre nature and (3) the value of living in a quality community. All this is the result of our accumulative insight on urban customers in the upper middle segment as to their decision to buy a home. These customers don’t just look for a beautiful design or the best technology that gives them a burden in the future.
But they also attach importance to new values to complement their experience living in superior homes. We have built on the values we have, turning them into new values that would make living in Baan Klang Muang a unique experience. We do this by developing a common area that seamlessly blends together aesthetics and nature, designing a home with interior space functions that answers all the needs of the homeowner and delivering a quality community to live together. We will launch The Finest Living Norm of Baan Klang Muang at five new projects worth Bht 7,855 million on offer at prices ranging from Bht 3.99 million to Bht 8 million,” said Mr. Pamorn.
“For Pleno, this premium 2-storey townhome brand has consistently enjoyed customer trust which enables its booking to continuous growth. We have seen changes in consumer behaviour and increasing ability to spend among the young generation of customers. To tap into the group of customers, we have adapted our way of communication through re-positioning by highlighting the concept Pleno – Your Finest First Home. In doing so, we dug deep into our insight on this group of customers who are secure career people ready to move out of their family homes. We work on two dimensions (1) presenting a functional space that will fulfill one’s self in an affordable price package and, what is more important (2) presenting living in a quality community that is safe and secure, just for these customers to be able to truly fulfill their dreams of owning the first home. Also, we highlight a design concept where common areas of individual locations are different in line with the insight we have on the lifestyle of customers in each location. In the second half of this year, we will launch eight Pleno projects worth Bht 7,495 million on offer at prices ranging from Bht 1.99 million to Bht 6.8 million,” Mr. Pamorn said.
“If you look at the first seven months, the company’s presales stood at Bht 18,175 million, which is 55% of projections (total presales projected at Bht 33,500 million). A total of Bht 15,540 million were presales from low-rise products, which grew by 11% on the same period of last year, which is 70% of projections (total low-rise presales projected at Bht 22,500 million). All presales were from the launch of 14 new low-rise projects worth Bht 15,475 million and over 85 other projects being sold worth Bht 46,750 million in outstanding value. We are confident that the market for townhomes, especially AP townhomes, will continue to grow well into the future as we can sense from the sentiment expressed by visitors to the projects. Booking and ownership transfer numbers have returned to normal levels (averagely Bht 500 million/week in low-rise presales) after the lockdown was eased. Our organization’s preparedness and AP team’s commitment to customer needs are key in our development of projects. They are factors enabling us to deliver quality products to fulfill customer’s life purpose, earning us confidence and trust from customers all along, particularly those looking for a home where every space is designed for their true self. We are confident that given our plan to bring superior norm to living in city-centre townhomes through the communication of new brand positioning for both Baan Klang Muang – The Finest Living Norm and Pleno – Your Finest First Home, we will be able to tap into a boarder group of customers. It will make for great customer acceptance in all locations when we launch 13 new projects worth Bht 15,350 million and kick off their presales this August onwards,” Mr. Pamorn added.
AP Thailand is committed to empower living to fulfill every life purpose.