Real estate developer AP Thailand Plc recorded 25.5 billion baht in sales for the first half of 2022, a 43% increase year-on-year.
The firm plans to diversify into new segments and launch 40 new projects worth 53.6 billion baht in the second half of this year.
AP said the growth stems from sales of single detached homes and townhomes, resulting in a 25% jump in AP's low-rise property portfolio.
The company's condominium segment also reported strong sales growth of nearly three times as 44% of units at Aspire Pinklao-Arun Amarin and Aspire Ratchayothin were sold.
Vittakarn Chandavimol, chief of corporate strategy and creation at AP Thailand, attributed the success to the firm's strategy of continuing to keep the prices of homes and condominiums affordable because many people are still trying to recover from the pandemic and stay afloat amid rising inflation.
In the second half of this year, AP plans to launch 16 new townhome projects, while 18 new single detached home projects are projected as the company plans to add single detached homes in the 3-5 million baht price range to its portfolio.
As for condominiums, three new projects worth 10.4 billion baht are scheduled to launch, comprising Aspire Sukhumvit-Rama 4, Aspire Onnut Station and Life Phahol-Ladprao.
AP expects to launch 40 development projects worth 53.6 billion baht, including 16 townhome developments, 18 single detached home developments, three condominiums and three property projects outside of the Bangkok area.