SET-listed developer AP Thailand remains on course to launch 23 new projects worth 27.26 billion baht in the second half of the year after launching 17 worth 30.78 billion baht in the first half.
According to Vittakarn Chandavimol, the company's chief of corporate strategy and creation, 12 of the projects planned for the second half are townhomes worth 9.25 billion baht, 10 are single detached houses worth 11.71 billion baht and one condominium project is worth 6.3 billion baht.
"In the second half of the year, AP will focus on building a new standard for residential developments and will get aggressive in the market for low-rise and high-rise products," he said. "Our main mission is to try and meet homebuyers' needs and to provide quality residences for society."
Mr Vittakarn said the first highlight will come with the launch of a new brand called The Sonne Srinakarin-Bangna, worth 600 million baht. Official sales will open in September. For condominiums, AP will soon launch Life Sathorn Sierra, a joint venture project worth 6.3 billion baht.
As of June 30, the company had a backlog valued at 57.31 billion baht, of which low-rise developments accounted for 10.13 billion baht. All are expected to be realised this year.
Condominiums (joint ventures included) accounted for 47.18 billion baht, of which AP's wholly owned projects made up 5.65 billion baht, with 2.6 billion baht to be realised this year.
There are 41.53 billion baht worth of joint venture projects, with 5.5 billion baht to be realised this year.
The remainder will be realised through 2023.
In total, the company has 40 new projects worth 58.05 billion baht planned for 2019.
As of June 30, the company had recorded total revenue of 20.8 billion baht. There are also more than 100 ongoing projects around Bangkok with an outstanding value of over 64.29 billion baht.
The firm is confident that total revenue targeted at 41.8 billion for the year will be achieved, Mr Vittakarn said.
"For the real estate industry in the second half of the year, we believe that every developer should stay alert," he said. "The factor that will stimulate public confidence and buying and selling is political clarity, which will contribute to the confidence of real-demand customers and investors. We will see a clearer future after the new government and the economic team are formed. The industry is expected to benefit from the new government's economic stimulus plan, which should help get national economic growth get back on track again."
Yesterday, AP Thailand reported strong presales in the first half of the year of 20.8 billion baht, up 20% year-on-year.
Condos accounted for 9.5 billion baht and low-rise development contributed 11.3 billion baht.
AP shares closed yesterday on the Stock Exchange of Thailand at 8.05 baht, up 20 satang, in trade worth 214 million baht.