Origin has revealed its first half performance for 2018, showcasing a profit of 1,508 million baht, a remarkable growth of 267% (YoY). This surge is attributed to new promotions that resonate with consumers, driving sales and transfers to unprecedented levels. The company is set to continue its promotional efforts to stimulate purchasing power while launching new projects worth over 21,000 million baht in the latter half of the year.

Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited (ORI), a developer of condominiums under the brands Park Origin, Knightsbridge, Notting Hill, Kensington, and the Britania housing projects, stated that despite a stable growth rate in the overall real estate market during the first half of 2018, the company achieved impressive operational results. The total revenue reached 6,657 million baht, an increase of 224% compared to the first half of 2017 (%YoY), accounting for 45% of the total revenue target of 15,000 million baht.

The primary reason for this success is the continuous revenue recognition from condominium projects initiated in 2017, along with five new projects that began transferring ownership: Knightsbridge Tiwanon, Park 24 (Phase 2), Notting Hill Laem Chabang, Notting Hill Sukhumvit-Praksa, and Kensington Kaset Campus. Additionally, the promotional campaign targeting the Ready to Move segment, named "Cloud-High Promotion", allows customers to pay for their units at a special price of only 999 baht per million per month for three years.

In the second quarter of 2018, the net profit stood at 1,019 million baht, growing 327% from the same period last year, with a net profit margin of 24.4%. The total net profit for the first half reached 1,508 million baht, a 267% increase from the previous year, with a net profit margin of 22.7%. This growth is due to the completion of new projects and several projects being finished and recognized for revenue faster than planned, along with revenue recognition from project management in collaboration with Nomura Real Estate Development Co., Ltd., leading to strong growth in both revenue and profit for the company in the first half of the year.

"The company achieved sales of 6,075 million baht in the second quarter of 2018, and in the first half, total sales reached 11,550 million baht, up 165% compared to the first half of 2017 (%YoY), representing 56% of the sales target of 20,000 million baht. This demonstrates that the company's projects are in demand, and the promotions effectively meet buyers' needs. In the third quarter of 2018, the company will continue these promotions under the name 'Cloud-High Promotion Squared' alongside other ongoing promotions, ensuring that this year the company will exceed sales of 20,000 million baht and achieve total revenue of 15,000 million baht as planned," Mr. Pirapong stated.

Mr. Pirapong further mentioned that in the latter half of 2018, the company plans to launch new projects valued at over 21,000 million baht, including mixed-use projects under the Park Origin brand in three locations, which are highlighted as the company's key projects this year, along with three additional housing projects.

Origin Property Public Company Limited has a diverse business structure, including 1. Project Development Business, having developed 51 condominium projects with a total project value exceeding 65,000 million baht; 2. Recurring Income Business, such as hotels, serviced apartments, and retail; 3. Service Business, including property management, real estate agency, and consulting services. The company also has a vision to continuously expand into new business types to become a comprehensive real estate operator.

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