AP Thailand has plans to launch 20 new projects with 17 of those being low-rise developments. The total value of all the developments is THB 35 billion. In a press release, the company points out that it is confident of an economic turnaround in Thailand this year.
The 17 low-rise projects are worth THB 15 billion with 9 of those being single detached homes. The other 8 are townhouse complexes worth 7 billion. AP also has 3 condominium projects in the works worth a total of THB 20 billion.
There will be 3 first quarter launches for AP with the remainder coming later on in 2017. Pleno Bangyai and Pleno Sukawat will be launched in the next few months and are both housing developments. Prices at both projects start at THB 2 million. The final launch is Ban Klang Muang Classe Ekkamai-Ramintra Phase 2, a project the company started last year. Prices at that project start at THB 25 million.
Chief executive Anuphong Assavabhokhin tells the Bangkok Post that Thailand’s real estate fundamentals are solid despite a decline in the number of new projects launched over the past few years.
“Today, there are clear signs of things returning to normal in terms of marketing activities and purchasing. This year the company expects more competition in the low-rise segment,” says Anuphong. “The challenge for the company from now on will be to acquire land to develop projects that are in line with consumers’ expectations.”
The company has also recognised that consumers are also looking for new options and will continue to develop a variety of residences with that in mind. AP Thailand will also use its partnerships to make this happen.
“Another factor that allows AP to differentiate itself is our partnership with Japan’s Mitsubishi Estate Group (MEC),”Anuphong says. “We started our partnership 3 years ago, working together on condominium developments. To date we have worked together on 8 projects. AP and MEC continue to look in the same direction and we plan on developing new condominiums in 2017.”
