The Official APEX Index 2026

Handed over Pantai Batu Estate in Pererenan — 64 villas, completed 2023, eleven months inside the contracted date, according to the district land office record and the strata handover register. Builds mid-density villa estates for foreign leasehold buyers and manages them after completion. Two of its earlier projects were delivered with pool dimensions smaller than the brochure; the group corrected the drawings in later sales documents and we found no repeat.

Sources Badung land office records; strata handover register; buyer contact (14 purchasers across two estates)

Twelve completed projects across Indonesia, Vietnam and the Philippines since 2016, all handed over, none abandoned, per company filings in each jurisdiction. Builds branded resort residences in partnership with hotel operators. Buyers in its Vietnam projects report longer-than-quoted delays in title issuance, which is partly a function of that market and partly a function of the group's paperwork.

Sources Corporate filings (ID, VN, PH); operator agreements on public record; buyer contact (22 purchasers)

Delivered 1,840 condominium units across three towers in Bonifacio Global City between 2018 and 2024, with turnover dates matching those registered with the housing regulator. Builds high-rise for domestic professionals and overseas Filipino buyers. Dispute frequency is low for its scale, though most disputes we saw concerned parking allocations rather than the units themselves.

Sources DHSUD licence to sell records; condominium corporation minutes; buyer contact (31 purchasers)

Completed the 320-unit Sơn Trà Residences in 2022 and issued pink books to buyers within nine months of handover, faster than any other Da Nang developer we assessed. Builds coastal apartments for Vietnamese and Korean buyers. One earlier project, sold in 2017, was delivered with a reduced amenity floor; the change was disclosed to buyers at the time, which is why it does not weigh more heavily.

Sources Da Nang Department of Natural Resources title records; construction completion certificates; buyer contact (18 purchasers)

Nine projects completed across Thailand and Malaysia since 2014, with an audited completion record filed with the Malaysian housing ministry. Builds low-rise resort villas and manages rental pools. Its rental guarantee programme in Phuket ended two years early for one project in 2021; buyers were compensated, but the shortfall is documented and buyers should ask about it.

Sources KPKT developer licence records; Thai Land Department chanote transfers; buyer contact (19 purchasers)

Handed over Teluk Datai Villas — 28 units — in 2023, on the date stated in the sale and purchase agreements. Builds a small number of large freehold villas for Malaysian and Singaporean buyers. Its volume is the lowest in the top ten; its record is the cleanest, and the two facts are related.

Sources Kedah land office; KPKT records; buyer contact (11 purchasers)

Completed fourteen projects in Thailand, Indonesia and Vietnam since 2012. Builds mid-market apartments and villas for international buyers, and is the largest operator in this index by completed volume. Two projects in Koh Samui were delivered more than eighteen months late, and one Bali estate substituted the specified timber for a cheaper species without notifying buyers — the substitution is documented and it costs the group here.

Sources Corporate filings (TH, ID, VN); specification comparison against sales documents; buyer contact (34 purchasers)

Delivered 412 units across two mid-rise projects on Mactan Island between 2019 and 2023, both registered with the housing regulator and turned over within the licensed period. Builds for Cebuano professionals and Korean and Japanese investors. Buyers report management of common areas as the weak point after handover.

Sources DHSUD records; Lapu-Lapu City building permits; buyer contact (16 purchasers)

Completed four villa compounds in the Ubud hills since 2017, 47 villas in total, each handed over with the leasehold deed registered at the Gianyar land office. Builds small, design-led compounds for foreign buyers. It has never built at scale, and its ranking here rests on record and specification rather than volume.

Sources Gianyar land office; notarial deed records; buyer contact (9 purchasers)

Handed over 210 shophouse and villa units on the island's west coast in 2023, with construction completion certified by the provincial authority. Builds tourism-zoned residences for Vietnamese investors. Title in Phu Quoc is complicated for everyone, and buyers here should expect the long-term lease structure common to the island rather than freehold.

Sources Kiên Giang construction department certificates; provincial land records; buyer contact (12 purchasers)