Mr. Vittakarn Chandavimol, Chief of Corporate Strategy and Creation at AP (Thailand) Public Co., Ltd, has spoken about the company’s performance as the real estate industry approaches the final stretch of the year.
On Tuesday, Mr. Vittakarn said 2021 was an unfavorable year for the real estate industry, as it faced challenges and uncertainties caused by the pandemic and lockdowns imposed over the past three quarters.
“However, during the final lap of the year, the situation is expected to be better thanks to improving economic activity and consumer sentiment,” he stated. “The LTV relaxation that will last until the end of 2022 will also help.”
Mr. Vittakarn explained that they are “positive signs” that will stimulate the real estate industry and help boost other related business sectors.
AP Thailand recorded a 31.21-billion-baht sales turnover in late October 2021, accounting for 88% of the 35.5 billion the company had projected for full-year sales. Around 28,594 million baht of its total sales were contributed by low-rise projects, its figures showed.
Moreover, the company plans to launch 12 new projects worth 8.57 billion baht in the last two months of 2021, including nine townhouses valued at 5.01 billion baht.
The nine townhouse projects will be developed under the Bann Klang Muang and Pleno brands. Each comes with a selling point that, according to AP Thailand, “redefines vertical life.”
The company’s three other projects, dubbed “homes that understand life,” are single detached homes built under the Centro brand worth 3.56 billion baht.
But the real estate sector’s superstars in 2021 continue being low-rise products, AP Thailand’s steadily growing sales and transfer figures show.
The company’s growing sales and transfer numbers reflect its organic growth and great potential in the real estate market. It has managed to maintain its growth momentum despite the Covid-induced lockdown during this year’s third quarter, which had a great impact on the country’s and local businesses’ economic stability.
Moreover, it has demonstrated that its management ability, portfolio and cash flow management are careful and efficient.
During the first three quarters of 2021, AP Thailand recorded 30.324 billion baht in total revenue from low-rise products, condominiums, and other businesses. Also, its net profit reached 3.549 billion baht, with a debt-to-equity ratio as low as 0.56.
Meanwhile, the company develops a cautious and prudent business plan that ensures continued resilience based on sound cash flow management, following its core mission of “empowering living” through its innovative services and products adapted to its customers’ needs.
