AP (Thailand) Public Company Limited (AP, as registered initial for the Stock Exchange of Thailand) is engaging in the business of property development, with the majority of the revenues from the selling of real estate that include Single-detached houses, townhouses, townhomes, semi-detached houses, home offices, and condominiums. Each of the estate project is located in the urban areas, with the majority of the projects in the area of Bangkok Metropolitan and the surrounding perimeter, and the other major provincial cities of Thailand.
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| Total Condo Portfolio: | 2026F | 2027F | 2028F | 2029F | |
|---|---|---|---|---|---|
| Condo AP Projects | 2,392 | 2,901 | 2,403 | 1,055 | |
| 100% JV Condo | 9,529 | 13,014 | 12,415 | 7,660 | |
| Based on Project Completion | 11,921 | 15,914 | 14,818 | 8,715 | |
| AP Condo Transfer | 741 | ||||
| JV Condo Transfer | 1,030 | ||||
| AP Condo Backlog | 3,857 | 1,497 | 2,043 | 316 | - |
| JV Condo Backlog | 17,294 | 5,890 | 7,016 | 3,673 | 715 |
| 21,150 | 7,387 | 9,060 | 3,989 | 715 | |
| % Secure | 77% | 57% | 27% | 8% |
The year of 2025 was another challenging period for both the property sector and the broader economy. Businesses had to navigate ongoing economic volatility, rapidly shifting operating costs, increasingly complex consumer behaviors, and uncertainty across multiple dimensions. During the past year, Thailand’s economy experienced one of its slowest growth periods, expanding by only 2%, the lowest among ASEAN countries and below the initial forecast of 2.5%.
The company operates under the vision of "A Good Life that’s Sustainable," driven by a strategic focus on three key ESG pillars:
