Rhythm Ekkamai, a condo project on Sukhumvit Soi 63, will launch on Sept 8. AP aims to have 19.2 billion baht in presales between August and December as demand picks up.

SET-listed developer AP (Thailand) Plc plans to launch 10 residential projects worth a combined 22.2 billion baht in the remaining months of this year.

The aim is to have 19.2 billion baht in presales between August and December as housing demand picks up.

Vittakarn Chandavimol, head of the condominium business group, highlighted Greater Bangkok's rising population and mass transit expansion.

"There are currently 70 [mass-transit] stations," he said. "Once the government's mass-transit line development is completed, there will be more than 260 stations which will create an opportunity for new residential supply and add more choices with various price ranges for consumers."

From today until the end of the year, it will launch five single detached house projects worth a combined 3.84 billion baht, two townhouse projects worth 3.28 billion baht and three condo sites worth a total 15 billion baht.

The new condo projects will include a six-rai site on Phahon Yothin Road opposite Central Plaza Ladprao worth 6 billion baht, a 4.2-rai plot on Wireless Road where it will develop 1,344 units worth 6.4 billion baht and a two-rai site on Sukhumvit Soi 63 (Soi Ekamai) worth 2.68 billion baht.

"Our condo development is focused on locations near a mass-transit line in the central business district. Outskirt areas like Bang Bua Thong, despite being close to the Purple Line, are not our interest," he said.

The Ekamai and Wireless Road projects will be joint ventures with Japanese partner Mitsubishi Estate Co. They will be the eighth and ninth joint-venture projects, respectively, after the first seven worth a combined 24 billion baht since 2013.

AP also introduced condo projects including its own developments and the joint venture ones to Japanese buyers who were interested in long-term investment, Mr Vittakarn added.

It plans to launch a total of 19 new projects worth a combined 31.5 billion baht this year. During the first seven months, it launched six projects worth a total 5.91 billion baht and recorded 11.8 billion baht in presales, which comprised 4.6 billion baht from condos and 7.2 billion baht from single houses and townhouses.

Early this month it opened three single house projects worth a combined 3.38 billion baht. It aims for 19.2 billion baht in presales from August until the end of the year, which will comprise 11.9 billion from condo and 7.3 billion from single houses and townhouses.

AP aims to achieve 23.7 billion baht in revenue by the end of the year, up from 22.1 billion baht in 2015.

AP shares closed yesterday on the Stock Exchange of Thailand at 7.55 baht, up 35 satang, in trade worth 272.75 million baht.