‘AP Thailand’ goes on the offensive in condo market in 2020
- Set to revolutionize condos of the future with Dynamic Personalized Model highlighting 3 key elements from in-depth thinking process to re-decoding real-demand insight in individual locations in effort to deliver condos that suit specific living patterns
- Unveils first tangible flagship development in RHYTHM Charoenkrung Pavillion – the first real co-generational condominium
Bangkok (14 Jan 2020) – AP (Thailand) Public Co., Ltd., the leader in the development of residential properties and innovations for urbanites, is gearing up to grow in the condominium market as top-of-mind developer. The firm has introduced a new concept for condominium development in 2020. Called Dynamic Personalized Model, the concept involves designing and developing condominiums that shift their formats and design concepts to suit different living patterns. It integrates modern lifestyle trends into a design thinking process to ensure a development that encompasses the company’s understand-suit-trust goal. The firm is looking to increase its competiveness so it can deliver condominiums that come with distinguishing quality - something like novel common facilities design and new lifestyle solutions. New projects from now on will follow the revolutionary model. The first tangible example of that has been unveiled in RHYTHM Charoenkrung Pavillion. For the first in Thailand’s condominium industry, the design of common facilities is based on an insight into multiple generational living where every square inch is ideal for further growth development of the alpha generation. The project is offered at a starting price of Bht 4.9 million (1-bedroom suite of 35 square metres).
Mr. Vittakarn Chandavimol, Chief Corporate Strategy and Creation, AP (Thailand) Public Co., Ltd., said, “The year 2020 presents a challenge for the condominium market. Developers will compete to stay on consumers’ top of mind. To be able they grow and deliver good quality of life for every lifestyle, AP Thailand is ready to introduce a new concept for condominium development in 2020. It’s what we call Dynamic Personalized Model. It’s a model for designing and developing condominiums where you adapt the format and design concept in response to different living patterns in order to gain particular consumer insights in individual locations. By integrating modern lifestyle trends into our design thinking process, we are able to deliver modern condominium developments that encompass three key elements (1) Understand. You have to identify your customers with clarity for specific insights as to who they are, how they live their lives to be able to develop condominiums that (2) Suit them. This goes beyond functionality. You have to make it right for their character and lifestyle as if every inch of the condominium is personalized to ensure (3) Trust from your customers in your organization’s ability to deliver as promised.”
“Amid the challenges facing the condominium market, we have adjusted our business plan to do a
long battle since last year. So, we are able to grow satisfying sales. Location and affordable price package continue to be two fundamental factors determining buying decision. But what is increasingly challenging for the future is how to understand complicated consumer behavior. Now we have more and more groups of consumers. So, the way we think and design is crucial. It’s no longer possible to take a wholesale look at a particular location. But we have to dig deep into the real demand for each piece of land. Over the last three years, we have prepared ourselves to understand different living patterns of people in the future in order to offer the right product and service for each group,” said Mr. Vittakarn.
The concept for the design and development of condominiums in 2020 through Dynamic Personalized Model will serve to meet the specific needs of urbanites in a particular piece of land. The concept comprises two key elements (1) Living Patterns Research – studying six main living patterns that are reflected through how modern urbanites live in a community and (2) Stanford Design Thinking Approach to find emotional unmet needs of customers in individual living patterns and bring those insights to further develop the right way. AP Thailand is ready to unveil the first concrete result of the concept in the latest flagship luxury condominium – RHYTHM Charoenkrung Pavillion.
Ms. Kamolthip Bumrungchatudom, Deputy Chief Business Group – Condominiums, AP (Thailand) Public Co., Ltd., said, “RHYTHM Charoenkrung Pavillion is the first project to follow Dynamic Personalized Model. In the Charoenkrung area, we saw an opportunity to develop a new type of condominium that is yet to be available in the market in response to the living pattern in Co-Generations Series, which is a living trend of urbanites where people of multiple generations live together. The challenge for the development of RHYTHM Charoenkrung Pavillion is you need to design an area to support family living while balancing the lifestyle of bachelors under the design concept for the luxury gated community to ensure that every life grows together in a safe and self-sufficient society. Every area is designed to clearly support complex activities of individual groups of residents. We are ready to deliver quality time in quality space for a starting price of Bht 4.9 million – an average of Bht 155,000/sq.m. (1-bedroom suite of 35 square metres).”
“As for the overall market for condominiums on main roads, Charoenkrung Road is one of the challenging locations due to the limited availability of ideal land for project development which led to a limited supply of newly launched condominiums in contrast to a strong demand for condominiums in the location. Over the last ten years, there have been only four condominium projects on Charoenkrung Road offering a total of only 1,120 units. Of those available, one project is in the ultra- luxury segment (Bht 300,000/sq.m.) with the total number of units standing at 355, of which 80% have been sold. In the luxury segment, we found three projects with a total of 765 units and they have enjoyed very good acceptance with sales standing at 94% and continued growing rental yield at around 6-7%,” added Ms. Kamolthip.
Mr. Pachrah Jayasiri, First Vice President Condominium Business Development and Product Design, commenting on the design concept for RHYTHM Charoenkrung Pavillion, said, “It involves designing living areas for families and balancing the lifestyle of residents who remain single. There are three main elements 1) Overlapping Design for Co-generations Living. Master plan management takes into account maximum privacy and safety for residents, especially small children. There is a clear separation between the pavilion complex and the residential complex with functional areas divided for family and privacy 2) Separate Section for each Generation. There are space functions for residents of different generations to ensure that everybody has quality time together in the residential complex, especially in the rooftop facilities (floor 42-44) which are ideal for family with small children and the new generation. The Sky Lounge can be used for exclusive party. The Play Space for children allows parents to keep a watch on children at a worry-free range and they can also spend private time in useful way at the same time. The highlight facility is our Infinity Edge Pool. The salt swimming pool spans 47 metres long and offers one of the most beautiful panoramic views of the Chao Phraya River from high above. The Kid Pool is separate from the deep adult section, clearly to ensure functional safety and section, and 3) The Best Living Quality. Not only was the project landscaped masterplan to be surrounded by green areas with a wide range of air-purifying trees big and small, AP also worked with a team of experts in the design of quality air systems to equip an Intelligent Indoor Quality Air for Life System – the best innovation from Japan. ERV devices have been equipped in all sections of indoor of common areas to ensure that the air circulating in RHYTHM Charoenkrung Pavillion’s common areas is purified and free from PM 2.5 dust particles.
RHYTHM Charoenkrung Pavillion is a flagship luxury condominium development that offers panoramic views of the Chao Phraya River’s curve. A joint venture between AP and Japanese partner Mitsubishi Estate Residence (a company of the Mitsubishi Estate Group), it is built on an area of 4-2-76.6 rai in the Charoenkrung location, now a highly creative section of Bangkok along the Chao Phraya River. The site has easy access to the city’s Sathorn central business district surrounded with a range of travel facilities. It is close to educational institutions like Assumption School, Bangkok Christian School and only 100 metres from Shrewsbury International School Bangkok (Riverside Campus). All of this makes for ease and convenience of life inside the community. RHYTHM Charoenkrung Pavillion consists of one 44-stroey Residential Tower and one Pavillion Complex. There are a total of 421 units with 421 parking lots (no double parking) and a wide range of functional areas for different lifestyles 1) 1-bedroom suite of 35 square metres 2) 1-bedroom suite and 1 multi-purpose room of 43.5 square metres 3) 2-bedroom suite of 75.5-128.5 square metres 4) 3-bedroom suite of 134-159 square metres 5) 4-bedroom penthouse of 184-228 square metres. Prices start from Bht 4.9 million – an average of Bht 155,000/sq.m (1-bedroom suite of 35 square metres).
AP (Thailand) Public Co., Ltd., continues to operate under AP WORLD vision with the ultimate goal to create a blueprint for good sustainable quality of life for everyone in society.
A study by AP Design Lab found a modern living trend of urbanites in Bangkok similar to the worldwide mega trend of a community living trend where everyone has similar personal ideas, attitudes and lifestyles, and there are six main modern living patterns:
- SERENITY SERIES. Urbanites who avoid chaotic lifestyles. These people are highly individual. They mainly want to spend time on their own and look for a space for relaxation.
- WELLNESS SERIES. Urbanites who value good health. They see health as a social status. They look for a space for exercises and outdoor activities.
- EXPERIENCE SERIES. Urbanites who look for diversity. They love a more exciting life. They want an adaptable space that is always ready for change in trends.
- NATURALITY SERIES. Nature-friendly urbanites who love shaded atmosphere. They need a space that allows them to live with urban nature.
- CO-GENERATIONS SERIES. Multiple generations of urbanites who live together e.g. family groups (parents belong to Gen X while children belong to Alpha Gen) and single people (Gen Y) who want a common area that promotes family relationships and child development as well as a space that offers quietness and privacy for new-gen lifestyles.
- CO-CREATION SERIES. Urbanites who look for a third space to get together or promote their learning, one which makes life easier and more convenient with co-working space, WIFI and beverage station as alternative functions.