Unit launches down MoM in Feb, but low-rise starts jump MoM. Take-up rate down a bit in Feb; SDH a lower proportion of presales. More launches in Mar; expected to be heaviest month of 1Q23.
Phoowadol Phoosodngern @ Bualuang Securities 16 March 2023
Low season in 1Q23; the next quarter will be better! All firms under coverage optimistic over 2023. Construction costs down YoY, but high-end remains in the sky.
Phoowadol Phoosodngern @ Bualuang Securities 10 March 2023
4Q22 was best quarter so far; LH, PSH, SC, and SIRI stood out. Strong YoY core profit growth profile for 2023. 2023 launch value expansion, so heavier presales.
Phoowadol Phoosodngern @ Bualuang Securities 8 March 2023
MoM rise in unit launches, led by low-end condo starts. Take-up rate up a bit in Jan; condos a bigger proportion of presales. More scheduled for 2023; 2H23 expected to be heaviest start quarter.
Phoowadol Phoosodngern @ Bualuang Securities 15 February 2023
Details
Thailand
Asia
Consumer Services
About
AP Thailand PCL is a property development company. The Company develops residential property projects in Bangkok areas as well as manufactures and distributes precast concrete products.
Associated topics
Consumer Discretionary
Equity
AP Thailand PCL
Consumer Services
Asia
Thailand
Phoowadol Phoosodngern
Real Estate
SIRI
2022
SPALI
Sansiri PCL
SC
2023