Mtihoon – Mr. Vittakarn Chandavimol, Chief Corporate Strategy and Creation,AP Thailand Public Co., Ltd., said that “There are still many challenges for the Thai economy in 2024 which, like the previous year, believes that there will be no walk in the park, due to several unavoidable factors from last year in the global economy brought on by geo-political conflicts, as well as the overall confidence in the Thai economy. Therefore, the company will continue to operate cautiously this year and the most important thing to make the organisation operate smoothly amid the economic fallout is the maintenance of a strong financial footing through stringent financial discipline to ensure a healthy cash flow needed to support the company’s long-term operations. At the end of 2023, we were able to maintain a debt-to-equity ratio at 0.79
which is what we at AP have attached great importance to over the years and is a key factor in the company’s success in every aspect.”
“This year is the year of the real developer. We can keep going forward only by being fully prepared in five aspects, which are 1) Cash flow management which can affect corporate stability and trustworthiness. We believe that today we possess a strong and stable financial position with sufficient liquidity for our operations. 2) Product portfolio diversification for variation and market segment coverage 3) People – Structure – Process that are on point to enable up-to-the-minute response 4) Business partners who share the same vision to ensure we move forward to be No. 1 and 5) Strong supply chain management that supports continuous business growth according to the development and project plans.
2024 AP EMPOWER TOGETHER Building on supremacy together
Mr. Vittakarn Chandavimol, Chief Corporate Strategy and Creation, AP Thailand Public Co., Ltd., said “This year the company is ready to build on its supremacy under its EMPOWER TOGETHER strategy. This year all business groups – single detached home, townhome, twin home and condominium are aiming to deliver innovative living spaces that embody Cheevit Dee Dee Tee Lueak Eng Dai to ensure that ‘every AP home area’ can grow together with everyone.
In 2024, the company is projected to have 212 AP projects readily available for sale across Thailand to maintain its’ position as the leader in the residential real estate industry in terms of sales, revenue and profit. Last year, the company recorded Bht 51,390 million in presales while total revenue from low-rise products, condominiums (100% JV) and other businesses reached Bht 48,757 million and net profit stood at Bht 6,054 million.
The projected distribution of 212 developments across the country includes 48 newly launched projects worth Bht 58,000 million, of which 15 are single detached home projects worth Bht 23,000 million, 23 are townhome and twin home projects worth Bht 19,300 million, 6 are condominium projects valued at Bht 12,500 million and 4 development projects in the provinces worth Bht 3,200 million. In addition to these new projects, there are also 164 ongoing projects, which will ensure the company enjoys continuous cash inflow.
The company’s financial stability at present is one of its best due to strict financial discipline and efficient financial planning and management. As a result, the company now has an excellent cash flow enough to ensure long-term steady growth, as well as the potential to access various funding sources, including 1. An open money market. Earlier this year, the company repaid Bht 2,500 million worth of due debentures, while its newly issued debentures valued at Bht 3,500 million enjoyed an oversubscription 2. Available credit line of up to Bht 12,700 million 3. Investment funds of Bht 12,619 million together with business partner Mitsubishi Estate Group as registered capital in a subsidiary for developing condominiums in Thailand as part of a joint venture with AP and 4. Cash inflow from sales and transfers of ownership in over 200 projects across all segments as part of over Bht 53,700 million in projected revenues to be continually realised. All of this provides the company with a substantial advantage needed to ensure the company operates at its full potential to achieve its goals.
Actively boosting share in the Super Luxury Single Detached Home Market
In 2024, the Single Detached Home Business Group plans to launch 15 new projects worth Bht 23,000 million. ‘FUNCTIONAL IS BEAUTIFUL’ will continue to be the position for the business group since it is the essential DNA behind AP’s continuous growth in the single detached home sector. For this year’s highlights, apart from focusing on designing living spaces so everyone can choose to grow together in AP’s single detached homes, the Single Detached Home Business Group also plans to increase its market share in the Super Luxury segment, targeting a price level of Bht 100 million through the development of THE PALAZZO brand of luxury mansion in a new context that is more than a residence, but an empire of your choice spanning over 1,000 square metres in two locations of Krungthep Kreetha and Pinklao, as well as the Baan Klang Krung brand of urban single detached home in the Suthu Pradit location, all will be ready for launches in the second half of the year. Priority will also be given to the development of THE CITY, CENTRO and MODEN, two of the company’s longtime successful brands.
Aiming for leadership in the urban twin home market
The Townhome and Twin Home Business Group 2024 plans to launch 23 new projects worth Bht 19,300 million. In addition to maintaining the leadership in the market for 3-and-2-storey townhomes, this year the company is ready to build on its success in the development of townhomes under the best vertical life space concept by embracing a new, more challenging goal of leading in the market for urban 3-and-2-storey twin homes as it is positioned to deliver innovative living spaces that allows you to choose to expand the space to fit every happiness.
The company’s 3 main brands, namely Baan Klang Muang CLASSE, Baan Klang Muang
THE EDITION and GRANDE PLENO, all will come to complete with a selling point being a wide frontage of up to 14.7 metres. They will be available for home-owners to expand their happiness in the form of 3-storey twin homes on a plot of 35.50 – 46.40 square wah and a functional area of 218.87 – 298 square metres, and 2-storey Twin homes on 35.10 – 44.83 square wah with a functional area of 133.45 – 200.2 square metres, starting at Bht 3.19 million.
Of the 23 new projects planned, 7 are twin home developments in locations such as Baan Klang Muang CLASSE Ratchada-Ladprao / Baan Klang Muang THE EDITION Yothinpattana / Baan Klang Muang THE EDITION Bangna / GRANDE PLENO Watcharapol-Chatuchot 10 / GRANDE PLENO Chaengwattana-Ratchapruek / GRANDE PLENO Ramintra-Wongwaen 2 / GRANDE PLENO Suksawat 64 and the remaining projects will consist of 3-and-2-storey townhomes.
AP CONDO grows continuously as the market rebounds
The Condominium Business Group has enjoyed continued growth. The overall market is marked by a steady recovery and is believed to be on track to get back to its pre-pandemic state. Last year, AP’s condominium business experienced a resounding success both in terms of sales and realised revenues. The business recorded Bht 17,908 million in presales, a growth of 57% compared to the previous year’s presales. Total revenues from condominiums (100% JV) alone grew to Bht 13,184 million due to a recovery of demand as well as customers’ confidence in AP condos.
In 2024, the condominium business will continue to operate in the same position, enabling home-buyers Start Life of Your Choice at AP Condo so that the firm can deliver living spaces where everyone can choose to their liking. There will be six new condo projects worth Bht 12,500 million unveiled primarily under the brands LIFE and ASPIRE. The main highlight of the year will be LIFE Charoennakhon-Sathorn and ASPIRE Huai Khwang. In addition, the company will realise revenues from the transfer of ownership in 3 move-in ready condo projects worth Bht 11,500 million, namely LIFE Phahon-Ladprao, LIFE Rama 4-Asoke and ASPIRE Ratchayothin.
2024 business plan summary
AP Thailand Public Co., Ltd., has set a target for 2024 to offer a diversified product portfolio of 212 readily available projects across Thailand. There are 48 newly developed projects worth around Bht 58,000 million. These include 15 single detached home projects worth Bht 23,000 million, 23 townhome and twin home projects worth Bht 19,300 million, 6 condominium projects worth Bht 12,500 million and 4 projects in the provinces worth Bht 3,200 million together with
164 ongoing projects, which will be the key to the company enjoying a continuous cash inflow. Presales for the year are projected at Bht 57,000 million and total revenues, including ones from 100% JV, at Bht 53,700 million.
Web : https://www.mitihoon.com/
Facebook : https://www.facebook.com/mitihoon
Youtube : https://www.youtube.com/@mitihoonofficial7770
Tiktok : www.tiktok.com/@mitihoon
