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TO BE listed as one of Asia's Most Influential Companies at the Asia Corporate Excellence & Sustainability Awards (ACES) means a corporation is resilient and forward-thinking, and asserts strong influence over people, resources and global interactions. These mega-corporations are selected based on the strength of their revenue, profitability, employee head count, innovativeness, brand influence and adherence to corporate sustainability principles.
One of the most notable companies to be named in this category is leading Thai property developer, AP Thailand Private Company Limited. The company has been listed on the Thailand Stock Exchange since 1994, and is one of the top three developers in terms of pre-sales, achieving a record of over 41 billion baht (S$1.73 billion) in 2017. It has over 200 projects under its name, and has registered a total revenue of 113.5 billion baht over FY2013-2017.
The industry leader has pulled ahead of the game, and has been leaving significant footprints on the property development landscape by pioneering "living innovation". AP Thailand has continuously introduced designs that have revolutionised the industry, such as the development of "Baan Klang Krung Thonglor", which was a pioneer in the luxury town-home segment. Their design innovations include double-access bathrooms, sky kitchens and "multiverse layouts" - which create unique living experiences.
Innovative living solutions
Anuphong Assavabhokhin, chief executive officer of AP Thailand, says that apart from delivering good living quality in every aspect, the company has plans to set up a special unit to develop innovative living solutions, complete with quality, convenience and safety desired by customers in the long term. "In the fifth year of our partnership with Mitsubishi Estate, both companies will continue to develop middle- to high-end condominiums together," said Mr Assavabhokhin.
"This year, we have signed an agreement to invest in four new condominium projects worth around 23,000 million baht. AP started selling the first project of the batch, which is LIFE Sukhumvit 62, in March. To date, AP and Mitsubishi Estate Group have 15 condominium projects worth up to 73 billion baht in their portfolio,"
AP Thailand has its own internal innovation department called D-Space, which generates consumers' insights and conducts a thorough design and construction process.
This process is done in tandem with different experts to develop valuable innovation designs, while employing new knowledge and technology to their processes. AP Thailand has been able to remain competitive due to three factors. Firstly, its profound understanding and meeting of consumers' needs and desires have enabled the company to distinctly differentiate itself from competitors.
Secondly, strategic location development ensures that all its projects are centrally located in the choicest locations, with convenience and access to transportation, infrastructure, educational institutions, amenities, health services, public parks, gyms and other community facilities.
Thirdly, the company's profound understanding of space design and being able to apply it to positively impact domestic living weighs strongly in the company's favour. AP integrates urban lifestyle with clever space design, employing concepts such as space maximisation which stresses functionality with zero waste of space; space privacy, where designs come with areas for privacy and tranquility; and space connect, which creates spaces for families to connect. This design premise also spills over to its design of community spaces.
AP Thailand recently set a new benchmark in property development by being the first developer to use AI BIM (Artificial Intelligence Building Information Modelling) in its total process from design and visualisation, scheduling, cost controlling, energy analysis and facility management.
The company's mission statement is to provide the best quality of life to its residents. This not only applies to its products, but also to AP Thai's after-sales services, such as providing comprehensive living solutions through maintenance, property management and brokerage services. This mission statement is deeply integrated into the organisation's culture and employees' mindset. For this reason, AP Thailand believes in investing heavily in human resource development.
In 2015, AP Thailand launched the AP Academy, the country's first training institute to grow the skills of real estate sector professionals. Its objective is to create high quality and creative human resources for the local property sector, and for the broader society. In addition, the academy's mission is to inspire and broaden the perspectives of Thai students, the media and the general public towards innovative and effective design and living space management through public symposiums and open house programmes.
AP Thailand has gained recognition for its accountability to its stakeholders. The company has been acknowledged for best practices in finance, and received awards from the Stock Exchange of Thailand in 2015.
The company was also recognised for excellent governance by the Thai Institute of Directors, and received a 100 per cent AGM score from Thai Investor Associations.