AP Reinforces Leadership in Urban Single Detached Homes
- Highlights ‘Hybrid Living’ concept - 4 SDH innovations that understand life with every space designed to connect life stories of all generations
- Sells more than Bht 1,000 million in new homes in 2 days, proving resilience of consumer purchasing power and home-buyers’ confidence in the value and quality of AP’s single detached homes
- Next level of success and new high recorded with presales of low-rise products in first 8 months topping Bht 18,400 million, already 82% of the year’s low-rise presales projections
- Backlog of products, including JVs, valued at Bht 49,330 million, of which Bht 12,010 million are low-rise products to be all realized this year
Bangkok (15 Sept 2020) – AP (Thailand) Public Co., Ltd., the leader in the development of residential properties under a mission to Empower Living by fulfilling every life purpose with meaningful products and innovations, is reinforcing its leadership in the market for urban detached houses by stressing its position for ‘a home that understands life’, whose superiority comes from integrating technology into a space design to connect every story of any generation under the ‘Hybrid Living’ concept. Leading the way in the property sector with its rapid sales, the company registered in excess of Bht 1,000 million in presales of new single detached homes in six new projects in only two days, while reaching a new high for its low-rise presales for eight months stood at Bht 18,400 million, out of Bht 21,420 million in overall presales. The firm is sitting comfortably knowing that there are Bht 49,330 million worth of products awaiting realization, including those from its joint ventures. Bht 12,010 million of the backlog comes from low-rise products, all will be realized within this year.
Mr. Ratchayud Nunthachotsophol, Chief Business Group, Single Detached Home, one of the key men at AP (Thailand) Public Co., Ltd., said, “AP Thailand started its single detached home business in 2004 and after 15 years of continuous improvement, we have developed over 80 single detached home projects valued at nearly Bht 100,000 million and have offered over 50 home models. It has resulted in AP’s single detached home business group jumping in growth from revenues in the billions of baht in 2019 to as high as Bht 10,227 million today. AP’s single detached homes also command No. 1 market share with the largest number of units sold in Bangkok and vicinity (2015-1H 2020).”
“The feat has been achieved while we position AP single detached home as a home that understands life, which is a key driver behind the success of AP single detached homes now and the future for our three quality brands, namely The Palazzo for super luxury mansions at Bht 25-60 million, The City for new-design high-end detached homes at Bht 9-25 million, and Centro for upper middle-end modern detached homes to start a new family at Bht 4.5-12 million,” said Mr. Ratchayud
“The fact that AP is able to be No. 1 in the market for urban single detached homes is due in large part to the way we approach our work with our ‘Put People First’ value. You have to look at human beings as human beings. You have to understand the needs of customers and to listen to them. That’s the important thing. It’s one of our five values under our main mission to Empower Living and our commitment to make every space in AP’s single detached homes respond to customers’ needs and connect every life story of all generations as perfect and complete as possible,” said Mr. Ratchayud.
Mrs. Pimpun Preechanont, Executive Vice President, Single Detached Home, AP (Thailand) Public Co., Ltd., said that “the challenge of developing single detached homes has now gone way beyond location and functionality. The heart of project design and development is an important element that a brand has to do more homework on space design and understanding an insight into space usage, which is different among family members. If you decode the real need for space usage in a house, you’ll find that there are details like gender, age, lifestyle, and the need for privacy or public space you need to take into account in your space design. It has to be responsive to those details and to community building while adding to the project more shared functions, green areas, security and good society at the same time.”
It is one of strategies that make AP’s single detached homes different, one which leads them to success. Building on the position of ‘a home which understands life’, AP integrates technology into home living. The result is Hybrid Living comprised of the following four core elements:
- Cost-saving – an innovation for shared benefits on public space. It supports full activities of people in all generations without worries about expenses, with a clubhouse powered by solar energy from a rooftop solar power system.
- Security – an innovation for safety with an intelligent security system which takes care of every family member 24 hours a day. It includes a sensor to detect movements and send a warning through smartphone, a siren to warn of intruders, IP camera which can live stream images to keep a watch on family members, digital door lock to open-close the front door via an application together with a pin code which can be used only once for a special guest or an emergency button to keep all generations of residents at peace
- Comfort – an innovation for comfort includes Smart Home Gateway and Security Module for lighting control which function in tandem with motion sensor to monitor the lawn like a pro or control the air conditioner in or outside of the home, among others.
- Community – an innovation which cares for the community 24 hours a day via Katsan platform, a smart protector to bring living peace to the next level in quality society. The platform screens people entering the project and facilitates living for a quality community.
On 12-13 September, the company held a pre-sale event for six single detached home projects 1) The City Sathorn – Suksawat 2 priced Bht 29.9 – 37 million 2) The City Rama 2 – Phutthabucha priced Bht 9 – 15 million 3) The City Rama 9 – Ramkhamhaeng priced Bht 11 – 25 million 4) The Palazzo Pinklao priced Bht 35 – 60 million 5) Centro Rama 9 – Krungthep Kreetha priced 7.9 – 15 million and 6) Centro Ratchapruek – Suanpak 2 priced Bht 7.59 – 11 million. The reception for the presale was beyond expectations. It was a success amid news of industry slowdown. During the two days, the company recorded over Bht 1,000 million in presales. It closed all sales for some projects and in some of our projects, demand has been so high that we are unable to build fast enough to meet it. It is a very powerful indicator of the resilience of consumer purchasing power and home-buyers’ confidence in the enduring value and quality of AP’s single detached homes.
As at 31 August 2020, the company had Bht 21,420 million in presales for the first eight months, compared to Bht 33,500 million presales projected for the year. Bht 18,400 million of the presales were from low-rise products. That was 82% of the presales projected for low-rise products for the whole year at Bht 22,500 million – a growth of 15% on the same period of last year.
In the first half of the year, the company had revenues 100%, including ones from its joint ventures, as high as Bht 19,960 million. Its backlog of products, including ones from joint-venture projects, is valued at Bht 49,330 million, of which low-rise products account for Bht 12,010 million, all is expected to be realized within this year. Its backlog of condominiums is valued at Bht 37,320 million, of which around Bht 9,008 million will be realized this year and the remainder will be realized though to 2023.
In the fourth quarter, the company’s single detached home business group will launch two more projects worth Bht 1,800 million. They are The City Borommaratchachonnani – Thawee Watthana worth Bht 890 million and a project around Sathu Pradit 1 worth Bht 910 million. For the whole year of 2020, the business group has a total of 18 projects worth Bht 20,430 million launched and to be launched.