· Leads with the philosophy ‘AP – The Differentiator’ in a new context: The highest quality in the design of living space
· Leads with all-around potential: “quality residential product portfolio”, “quality team” and “quality partnership”
· Looks to lead in business in second half of the year by launching 13 new quality projects worth Bht 26,000 million with huge yearend revenue from delivery of 8 condominium projects
· Leads with quality at all levels strengthened by ‘AP Academy’, the first quality property institution in Thailand; Together with MEC is preparing to develop the ‘AP Checklist’ as a comprehensive quality control and audit tool to ensure prompt delivery of quality properties
Khun Anuphong Assavabhokhin, Chief Executive Officer of AP (Thailand) Public Company Limited, the leading developer of properties for urban residents with expertise in design innovation for unlimited space functionality, today shared AP’s growth vision as the company enters its 26th year. According to the CEO, AP is looking forward to becoming one of Thailand’s top 3 real estate companies in the hearts and minds of consumers. In order to achieve this goal, the company is a focused on raising “differentiation through quality” as strategy under the “AP – The Differentiator” philosophy. Khun Anuphong stressed that AP is committed to being the first company to make a difference in Thailand’s real estate industry and to achieve this, it will use its strengths and capabilities – “quality residential products”, “quality team” and “quality partnership”. For the second half of the year, the company will work full steam ahead with the launch of 13 new projects worth Bht 26,000 million and will realise yearend revenues with the delivery of 8 major condominium projects.
“For this strategy to succeed in our 26th year and beyond, AP Thailand has challenged itself to the next level in line with its goal is to be one of the top 3 real estate companies that stays in the hearts and minds of consumers,” said Khun Anuphong.
“We will make a difference through quality using our working philosophy defined by ‘AP – The Differentiator’ or AP who makes a difference in Thailand’s real estate industry through its products and services. Our four main concepts are: 1) SPACE OPTIMIZATION – we take a different approach to design innovation to maximize space utilization; 2) CONVENIENCE – we think differently to ensure that every space in and outside the houses we design is conducive to living and ensure the most convenient connection for urban residents; 3) QUALITY – we work hard to improve our products, and together with our business partner Mitsubishi Estate Group (MEC), we have developed the all-important AP Checklist as a tool to control project development from the beginning – from quality design to efficient construction as well as project audit through the transfer of knowhow from Japan; and 4) HUMAN RESOURCES – we want to make a difference by way of the system of thinking and management by our people through AP Academy, the first institution in Thailand for comprehensive real estate learning.” said Khun Anuphong.
“AP (Thailand) has all the capabilities and potential to succeed. We have quality people, quality residential products for all residential needs, be it condominium, single house or townhome. Equally important is our partnership with Mitsubishi Estate Group (MEC) who shares the same vision of providing quality property development. Over the past two years of our partnership, we have looked at our joint venture as more than a way to make a profit. MEC is happy to share knowledge in property development with sincerity from the design of functional spaces to the construction process while sharing its knowledge on quality assurance with AP Academy. As a gesture of its sincerity and to ensures our long-term partnership, Mitsubishi Estate sent four of its Japanese employees to AP headquarters in Thailand. Their mission is to ensure a speedy work process and decision-making. I believe that this partnership will not only make a difference in AP’s real estate products, but it will also contribute to elevate Thailand’s real estate standards,” said Khun Anuphong.
As of the end of July 2016, the company has Bht 13,200 million in sales turnover. In the third and fourth quarters, the company plans to launch 13 new projects valued at around Bht 26,000 million. They include as many as 10 horizontal projects: 8 single house projects and 2 townhome projects worth around Bht 10,800 million in total and 3 condominium projects worth around Bht 15,200 million which will be launched according to plan and reach the sales target.
In the third and fourth quarter, AP will have 8 condominium projects under construction: 1) Aspire Ngamwongwan, worth Bht 2,680 million; 2) Vittorio, worth Bht 3,500 million; 3) RHYTHM Sukhumvit 42, worth Bht 3,500 million; 4) RHYTHM Asoke, worth Bht 1,500 million; 5) Aspire Wutthakat, worth Bht 390 million; 6) RHYTHM Sukhumvit 36-38, worth Bht 2,900 million; 7) Aspire Ratchada-Wongsawang, worth Bht 2,850 million; and 8) Aspire Sathorn-Thaphra, worth Bht 3,500 million. The latter three are joint investments with MEC and will be ready for delivery and project inspection from October this year. Ownership will be transferred to buyers within this year.
At the end of the second quarter, the company has projects with a backlog of Bht 12,834 million, of which horizontal developments account for Bht 3,210 million, all will be realized within this year. Condominiums account for Bht 9,624 million, of which Bht 4,633 million will be realized this year and the remainder in 2017-2018. For the first half of this year, the company posted Bht 8,602 million in total revenues and Bht 981 million in net profit.
“Over the past 25 years, we have taken pride in the knowledge that AP is helping to make at least one family happy every single day with the ownership of a new home. Furthermore, more than half of new houses sold in the city are built by AP. We have adhered to our standpoint to make a difference in the real estate industry as the first company to pioneer townhomes in the city and the first to set the trend for condominiums along rapid transit lines.”
“I believe that AP Thailand will succeed according to plan because we have a great team and a working passion. We have excellent systems that are getting better and better. Our financial position is solid and going from strength to strength. We are committed to improving our quality, capabilities, innovation and technology with our experience, determination and strict financial discipline,” Khun Anuphong said.
“AP Thailand – The Differentiator, Leader in Residential Innovation”