“Park Origin” Sales Surge as Completed Projects Begin to Recognize Revenue Ahead of Schedule

Origin showcases excellent performance, expanding its reach across all segments with new brand “Park Origin.” The two projects in Phaya Thai and Thonglor have exceeded sales targets, while the completed Park 24 Phase 2 is gradually transferring ownership and recognizing revenue ahead of schedule for over two quarters. It is expected that bank loans will be fully repaid by the end of this year, with confidence that sales will surpass 24 billion baht by year-end.

          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 landed property brand Britania, stated that the company’s performance in the first nine months of the year has shown remarkable growth. Currently, sales have exceeded 20 billion baht, driven by new projects under the “Park Origin” brand, a luxury condominium brand that has achieved sales beyond expectations. Starting with the project “Park Origin Phaya Thai”, which has already achieved over 75% sales or more than 3.5 billion baht, having just officially launched at the end of September. Meanwhile, the flagship project recently launched, “Park Origin Thonglor”, has also achieved over 40% sales or more than 5 billion baht, even before its official launch.

          “The company aims for total sales of 24 billion baht for the year, and in the first nine months, we have already accumulated sales exceeding 20 billion baht. This reflects the company’s ability to continuously present projects that meet consumer needs, giving us confidence that our full-year performance will grow according to our targets,” Mr. Pirapong stated.

          Regarding the Park 24 Phase 1 project, valued at approximately 6 billion baht, over 75% has been transferred, and the bank loan has been fully repaid. For Phase 2, valued at around 11.1 billion baht, construction has been completed and ownership transfers began ahead of schedule, originally planned for the fourth quarter. Construction was completed and transfers started in June, with over 20% already transferred. Only 2.5 billion baht remains to be repaid to the bank, which is expected to be fully repaid by the end of this year. Additionally, Park 24 Phase 2 still has a backlog of over 4.7 billion baht awaiting transfer. The company also maintains liquidity and ongoing cash flow sufficient for current project developments, including land purchases to support future growth plans.

          “This year, we have expanded our condominium business to cover all segments and are fully advancing into new business types, including landed projects and recurring income businesses such as hotels, community malls, and mixed-use projects, in line with our vision of creating the Empire of Origin. This is a positive sign that our operations can align with our goals, creating sustainable performance for the company and serving all consumer groups,” he added.

          “We prioritize every process in the company’s operations and have strong partnerships throughout the entire business chain, ensuring that the company can grow sustainably in the future,” Mr. Pirapong concluded.

          Origin Property Public Company Limited has a diverse business structure, including: 1. Project Development Business, having developed approximately 54 projects with a total project value of over 82 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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