ORI Reports First Half Pre-sales of 11.2 Billion Baht

Gears Up for Q3 Launch of Luxury Homes "Belgravia" Alongside 6.2 Billion Baht Condos

 

"Origin" showcases first half pre-sales figures of 11.2 billion baht, confident that the total for 2020 will exceed the target of 21.5 billion baht, thanks to strategies that enhance online platforms and the "Everyone Can Sell" project that supports continuous sales. The housing business is booming, with Britania Bangna Km. 12 preparing to close sales after just a year and a half since its launch. In Q3, the company is set to unveil a new luxury housing brand, "Belgravia," along with two condominium projects worth a total of over 6.2 billion baht.

 

Mr. Pirapong Jarunek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, stated that in Q2/2020 (April-June 2020), the company achieved sales (presales) of over 6.4 billion baht, marking a 32% increase from Q1/2020, with a breakdown of 30% from housing and 70% from condominiums.

 

This brings the total sales for the first half of 2020 (January-June 2020) to over 11.2 billion baht, with 32% from housing and 68% from condominiums, accounting for over 52% of the annual target set at 21.5 billion baht. Therefore, the company is confident that the overall performance for 2020 has a strong chance of exceeding the set target.

 

The key factors driving the company's sales growth include sales strategies that respond to market conditions, alongside proactive marketing adjustments and increased online sales channels, such as launching an Official Store on platforms like Shopee and Lazada, as well as empowering employees to become Micro Influencers selling products through personal communication channels under the "Everyone Can Sell" project to enhance direct access to target consumers.

 

Mr. Pirapong further stated that the housing business under Britania Co., Ltd. has played a significant role in generating new sales for the company and has received positive feedback continuously. Recently, the Britania Bangna Km. 12 project, a single-house project launched in late 2018, is entering the final phase of sales with only about 10 units remaining, reflecting the company's ability to secure suitable locations and the confidence consumers have in the quality of the brand and the housing projects under Origin Property, resulting in a faster absorption rate than the market average, which typically takes about 3-5 years. In Q4 of this year, the company plans to launch an additional project in the Bangna area under the name Grand Britania Bangna Km. 12 to meet consumer demand.

 

In Q3/2020, the company will continue to focus on the housing business, launching a new brand, Belgravia (BELGRAVIA), a luxury single-house brand priced between 20-35 million baht, with one project named Belgravia Exclusive Pool Villa Bangna-Rama 9 valued at around 1.6 billion baht, along with two condominium projects worth a total of 4.6 billion baht, including the KnightBridge Space Rama 4 project valued at 2.3 billion baht and the Origin Plug & Play Ramindra project valued at 2.3 billion baht, bringing the total value of projects launched in Q3/2020 to 6.2 billion baht.

 

Overall, in the second half of 2020, the company will have six new completed projects ready for gradual transfer of ownership, with a total value of approximately 10 billion baht, starting with two projects in Q3/2020: 1. KnightBridge Prime On Nut and 2. KnightBridge Collage Sukhumvit 107, and in Q4/2020, four more projects: 1. The Origin Sukhumvit 105, 2. Kensington Rayong, 3. KnightBridge Kaset Society, and 4. KnightBridge Space Ratchayothin. On average, these projects have already achieved about 80-90% sales, and it is expected that once construction is completed, they will contribute to both new sales and continuous ownership transfers.

 

ORI has a diverse business structure, including: 1. Residential Development Business, which has developed 73 projects such as PARK ORIGIN, The Origin, KnightsBridge, Notting Hill, Kensington, and Britania, with a total project value of over 114 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 areas to become a comprehensive real estate operator.