Bangkok--Mar 24--MDK Consultants
Asian Property Development Plc has reported a 11.2% growth result for 2004. The company is still focused on the upper end of the residential market with new spectacular housing projects to be launched within this year under the ‘Big City’ theme. ‘Brand building’ is also on of the company’s top priorities.
Anuphong Assavabhokhin, CEO of Asian Property Development Plc, (AP) said, “In response to the continuing demand in the housing market AP is launching four new projects at four prime locations under the ‘Big City’ concept and with four individual themes inspired by different architectural styles of the world famous cities. Baan Klang Krung Rama 3, the baroque-and-neo-classic-style residence was created under the ‘Vienna Theme.’ Baan Klang Muang Ratchavibha, the townhouse project located around Rachavibha junction was created under a ‘Paris Theme.’ Baan Klang Muang Srinakarin ‘British City’ which has launched in mid February was designed under the ‘London Theme.’ And Baan Klang Krung Siam-Pathumwan is a city-lifestyle condominium project planned for launching in the near future which was conceived with a New York Theme,”
“The keys to our success are focusing on niche markets, prime location, stylish residential projects, and reasonable pricing. Apart from the major ‘AP’ brand, our housing products include three other brands, ‘Baan Klang Krung,’ ‘Baan Klang Muang,’ and ‘The City’ which reflect the individual character of the project. Because brand building is vital to the long-term success of the company brand building is also one of our top priorities this year,” Anuphong added.
The company’s performance for the fiscal year 2004 reported a total revenue of 4,793 million baht, representing a year-on-year increase of 11.2% with a net profit of 1,097 million baht — a decrease of 7% from the previous year. The fall in net profit was the result of the expiration of government property tax incentives at the end of 2003. Successful housing projects for the the year 2004 are Baan Klang Muang Rama 9 — Lad Prao Project, which has launched in the first quarter and now was sold out; and Baan Klang Muang Lad Prao 71 (1) Project, which has launched in the third quarter, now 80% sold.
In 2005, AP aims to achieve 20% growth or a total revenue of around 6 billion baht from both new and ongoing residential projects representing a total value of approximately 12,979 million baht.
Note to editors
Asian Property Company Limited was established in 1991 by Mr. Anuphong Assavabhokhin and Mr. Pichet Vipavasuphakorn to develop residential projects in Bangkok Metropolitan Area (BMA). In mid-2000, the company merged with PCM Public Company Limited (PCM) and has changed its name to "Asian Property Development Public Company Limited (APD)" and has been listed on the Stock Exchange of Thailand (SET) since 22 September 1992.
At this moment, Asian Property Development Plc. develops and launches many types of residential projects - townhouses, single detached houses and condominiums under the brands ‘Baan Klang Krung’, ‘Baan Klang Muang,’ and ‘The City.’
In 2005, the company planned to launch many residential projects, including Baan Klang Muang (British Town - Srinakarin), Baan Klang Krung (Siam - Pathumwan), Baan Klang Muang (Ladprao 71) Project 3, Baan Klang Krung (Ratchavibha), Baan Klang Muang (Ratchavibha), Baan Klang Muang (Sukhumvit - Bangna), Baan Klang Krung (Sathorn - Rama 3), Baan Klang Muang (Sathorn - Rama 3), The City (Pin Klao), The City (Pin Klao — Rama 5).
For more information, please contact :
ASIAN PROPERTY DEVELOPMENT PlcVilailux Kesaranond
Tel: 0-2261-2518-22
MDK Consultants (Thailand) Ltd.
Baralee Intararut / Ratchada Pasunta Sukiet Kittitammachote
Tel: 0-2658-6111 (20 Lines) End.