Developers are trying hard to buy land in good locations but land prices are very high today. Land represents 45% of the total cost when developing a residential project, up from 30% in the past 7-8 years," he said.
AP realises that the overall property market is beset by pitfalls this year, Mr Anuphong says. Keeping expenses under control and otherwise showing strong financial discipline are musts. The company plans to keep its debt-to-equity ratio at a maximum of 1 time, compared with only 0.8 times last year.