Bangkok--8 May--IR network
Utilization of capital to maximize business expansion – Retail Shopping Complex – Hotel – Entertainment Park – Theatres. Exponential revenue growth within 3 years!
Mr. Pongphan Sampawakoop, the Chief Executive Officer of Apex Development Public Company Limited (APX) announced after the shareholders have approved the debentures of the amount not exceeding 2 billion Baht which resulted in the company being fully prepared for business expansion and investment in accordance to the new property development plan which is distinctively different from other Property Developers. Apex will focus on developments which has synergy and in sync with the high growth of the Thailand Tourism industry on a full scale basis.
As such, Apex will select the prime locations and select international hotel chains that are suitable for the hotel management of each project, and create rental return for buying customers of the Residences of each project. At present the projects includes 1) Mövenpick Resort & Residences, on the beachfront of Pattaya. 2) Sheraton Phuket Grand Bay Resort & Grand Bay Residences, at Por Bay, Phuket. 3) Four Points by Sheraton Pattaya Resort & Jomtien Bay Residences, on the beachfront of Pattaya. 4) Hyatt Centric Phuket Resort & Residences, on the beachfront of Mai Kao Beach, Phuket. Every project includes both Hotel and Residences with the total project value of approximately 12 billion Baht, which will yield good revenue and profitability for Apex on a continuous basis within 3 years.
For the projects expansion strategy that is in synergy and supportive of the Thailand Tourism industry to remain the number one tourist destination in the world, the company will focus on investments in Phuket which has over 13 million visitors in year 2016, with prediction of steady growth rate of visitors annually. Apex plans to joint invest with some major landlords in the Patong beach area to develop a 5 star Retail Shopping Complex and Boutique Hotel. In addition, Apex plans to develop a Bird Park and Entertainment Park project which are suitable for Phuket which will also include Entertainment and Musical Theatres at the very center of Phuket to capitalize on the market demand from the huge influx of tourists. At present, the details of these projects are to be finalized very soon.