AP announced that it will launch 10 residential projects during the second half of the year worth THB22.2 billion combined, according to local media reports. These launches will be a mix of detached housing, condominium and townhouse projects with the developer hoping to raise more than THB19 billion in pre-sales before year’s end.
With the population in Greater Bangkok’s continuing to grow and the city’s mass transit system also set to expand, AP believes there are a number of new opportunities it can take advantage of. The company’s goal is to have a broad range of projects at various price points to appeal to customers at all income levels.
“There are currently 70 [mass-transit] stations,” said AP’s head of the condominium business group, Vittakarn Chandavimol. “Once the government’s mass-transit line development is completed, there will be more than 260 stations which will create an opportunity for new residential supply and add more choices with various price ranges for consumers.”
Of the new projects AP will launch, the media noted that five will be single-detached housing projects, three will be condominiums and the remaining two will consist of townhouse developments. The new condo launches are situated in prime locations in or around the city center.
AP will launch a condo on a six-rai site on Phahon Yothin Road located across from Central Plaza Ladprao while there will also be a launch for a condo development on Wireless Road that will consist of 1,344 units and be worth THB6.4 billion. There are also plans to launch a smaller condo project along Ekkamai. The latter two developments will be launched via joint venture with Japan’s Mitsubishi Estate.
“Our condo development is focused on locations near a mass-transit line in the central business district,” said Vittakarn. “Outskirt areas like Bang Bua Thong, despite being close to the Purple Line, are not our interest.”
