Mr. Pirapong Jarunek, CEO of Origin Property Public Company Limited (ORI), a developer of condominium projects under the Kensington, Notting Hill, KnightBridge, and Park brands, stated that the company's board meeting on November 1, 2017, approved a joint venture with Nomura Real Estate Development Co., Ltd. (NRED) by selling common shares of Origin Park T1 Co., Ltd., a wholly-owned subsidiary of the company, totaling 49,000 shares (with a par value of 10 baht per share), representing 49% of the common shares or a registered capital of 490,000 baht, with a total share sale price of 397,463,500 baht, which NRED will pay in cash.

The Origin Park T1 Co., Ltd. was registered on October 30, 2017, with a registered capital of 1 million baht to develop a high-end condominium project on the land at Arena 10 (Thonglor Soi 10), valued at 11 billion baht under the "Park" brand. This project marks the first development of the Park brand since the company partnered with Proud Residence Co., Ltd., aiming to establish it as a high-end brand to expand into the upper market and international markets, with construction expected to commence in 2018.

"This collaboration with Nomura for project development represents a continuous partnership to facilitate the exchange of knowledge in innovation, design, and know-how with a company renowned for its top three market share in the residential sector in Japan. It will be a significant step for Origin to become a leader in the comprehensive real estate business and to establish itself as the number one brand in consumers' minds, similar to Nomura's condominium brand," he said.

Previously, the company launched three joint venture projects with Nomura this year, including 1. KnightBridge Prime On Nut, 2. KnightBridge Prime Ratchayothin, and 3. KnightBridge Collage Ramkhamhaeng, with a total project value of 6.1 billion baht. Looking ahead, the company plans to continue its real estate joint ventures with Nomura in various forms, including condominium development and other businesses such as office building development and management, hotels, and real estate service businesses.

Currently, Origin Property Public Company Limited has a diverse business structure, including 1. Residential development for sale (Project Development Business), having developed approximately 44 projects with a total project value of over 43.5 billion baht; 2. Recurring income business, such as hotels, serviced apartments, and retail; 3. Service business, including property management, real estate brokerage, and consulting services, with a vision to continuously expand into new business types to become a comprehensive real estate operator.

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