AP to launch 9 projects in Q2 for Bt8.7 bn in 1st half presales

Real Estate May 08, 2014 00:00


AP (Thailand) Plc plans to launch nine residential projects worth Bt13.1 billion to boost presales to Bt6.5 billion this quarter.

Added to presales of Bt2.2 billion last quarter, this will bring its presales in the first half of this year to Bt8.7 billion, Vitakarn Chanvimol chief marketing officer, said yesterday after introducing the first three condo projects worth Bt7 billion.

It targets 40-per-cent growth in presales to Bt21 billion this whole year with 19 new residential projects, of which two worth Bt1.7 billion debuted last quarter and eight worth Bt9 billion are set for the second half.

“Although the country has faced political turmoil since the last quarter of last year, residential demand is still there, especially the real demand for homes priced from Bt2 million-Bt3 million per unit,” he said.

Home-buyers have delayed their purchasing decisions compared with last year, but that did not change its customer target because the company has revised its marketing strategy for price setting, worked closer with banks to pre-approve customers and focused on developing residential projects that match customer’s preferences.

Rejection rate low

Pre-approvals have kept the rejection rate for its customers’ applications for home loans to only 12 per cent.

Last quarter, the company offered luxury single family homes priced over Bt25 million, a segment that continued to enjoy demand.

Last month the company booked presales of Bt900 million, taking its presales for the first four months to Bt3.1 billion.

AP targets total sales of Bt1.4 billion-Bt1.5 billion from its three condo projects unveiled yesterday. They are Rhythm Asoke II worth Bt1.5 billion, Rhythm Sukhumvit 36-38 worth Bt2.85 billion and Aspire Ratchada-Wongsawang worth Bt2.78 billion.

They are being developed by a joint venture with Mitsubishi Estate Co, a major real estate player based in Japan.

A booking event will be held at the Rethink Space in Siam Paragon from next Thursday-Sunday.