SET-listed developer AP Thailand Plc will launch 20 new projects worth 35 billion baht this year to cash in on recovering economic sentiment.
These include 17 low-rise projects together worth 15 billion baht -- eight single detached homes worth 8 billion and nine townhouses worth 7 billion. Also in the pipeline are three condominium projects, together worth 20 billion baht.
In the first quarter, the company plans to launch two new projects: Pleno Bangyai, a duplex development and Pleno Sukawat, a project for two-storey townhouses, both built on 18-36 square wah. Prices will start at 2 million baht.
Also to be launched in the first quarter is Ban Klang Muang Classe Ekkamai-Ramintra Phase 2, a project continued from last year, and on sale from 25 million baht.
Chief executive Anuphong Assavabhokhin said Thailand's real estate fundamentals are not in a bad condition despite negative numbers in new project launches 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," he said. "The challenge for the company from now on will be to acquire land to develop projects that are line with consumers' expectations."
According to Mr Anuphong, the expansion of the mass rapid transit system, while beneficial to the real estate industry, also poses some risks to developers for it contributes to rapidly rising land costs -- too fast for consumers to catch up with.
Consumers are also looking for new options. AP will continue to develop a variety of residences with a focus on the thinking process to differentiate its products while controlling and improving quality in every step, he said.
"Another factor that allows AP to differentiate itself is our partnership with Japan's Mitsubishi Estate Group (MEC)," Mr Anuphong said.
"We started our partnership three years ago, working together on condominium developments. To date we have worked together on eight project. AP and MEC continue to look in the same direction and we plan on developing new condominiums in 2017," he said.