"Origin" is moving forward with a joint venture with "Nomura Real Estate Development," a major Japanese real estate company, by selling 49% of its subsidiary shares to develop the mixed-use project "Origin 24," valued at over 4 billion baht. They have appointed "Kamolwan Wipulakorn," former CEO of a leading hotel group in Thailand, to shape the RECURRING INCOME business into a TOP 3 player in the industry.

          Mr. Pirapong Jarunek, CEO of Origin Property Public Company Limited (ORI), the developer of condominiums under the brands Park, Knightsbridge, Notting Hill, Kensington, and the Britania brand of horizontal projects, revealed that the company continues to build partnerships with Nomura Real Estate Development Co., Ltd., a major Japanese real estate firm and Origin's main partner. Recently, they will collaborate on the development of the mixed-use project "Origin 24" located opposite the Park 24 project on Sukhumvit Soi 24.

          Additionally, Origin One Co., Ltd., which manages the recurring income business within the Origin Property group, has been tasked with selling 49% of the shares in the subsidiary responsible for the mixed-use project Origin 24 to Nomura Real Estate Development, amounting to a paid-up share value of 135,008,100 baht. Origin Property Public Company Limited will recognize a special profit (Share premium) from this deal amounting to 73,500,000 baht.

          "We and Nomura share a common vision of delivering happiness and convenience to consumers through the integration of our know-how. The mixed-use project Origin 24 will be another landmark for living in the heart of Sukhumvit," Mr. Pirapong stated.

          The "Origin 24" project is a leasehold mixed-use development located on Sukhumvit Soi 24, approximately 500 meters from BTS Phrom Phong, on a plot of land measuring about 3 rai and 2 ngan, consisting of 2 buildings. It will feature a 5-star hotel and luxury serviced apartments totaling 411 rooms, office rental space of 2,000 square meters, and a community mall with a total area of 3,200 square meters. The project will include various amenities such as a swimming pool, fitness center, playground, meeting rooms, etc., with a total project value of over 4 billion baht.

Thank you for the information from www.origin.co.th