Under its business plans for low-rise residential developments in 2017, AP Thailand is set to launch 15 new, low-rise projects worth a combined THB 15 billion, announces the company in a press release. There are 7 single detached home projects while the other 8 will be townhome developments.
AP has set a THB 13.6 billion sales target for low-rise developments and the company has a vision for low-rise developments in 2017 that it hopes will make a leader in the segment for years to come.
“Most of the competitive activities undertaken today are by major developers that have generated more than 75 per cent of sales,” says Pamorn Prasertsan, AP Thailand’s Chief Business Group – Single Detached Home & Townhome, in a press release. “As for AP’s business performance last year, as the leader in the single detached home and townhome product group, we were able to generate THB 12.3 billion in sales out of the 2016 total sales of THB 22.36 billion while realised revenue for 2016 stood at THB 20.25 Billion. Of this THB 12.9 Billion was from single detached homes and townhomes.”
In 2017, AP will focus more on developing detached homes for the modern family, with the young generation being catered to more. These residents tend to prefer modern home designs with luxurious interiors that are also functional. The company has plans to expand into the affordable townhome segment as well where prices range from THB 2 million to THB 4 million
The reason AP is looking at expanding into more niches is so can meet the growing number of customer demands. Before each project it launches, the company goes on a site visit to undertake intensive research into hidden demands by residents in the area as well as getting customer input in the project design. The company then instructs designers to find ways to meet these requirements.
Featured Image: Baan Klang Muang The Edition Rama 9 – Onnut
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