Origin Property Public Company Limited (ORI)<\/span><\/strong>, led by Pheeraphong Jaroonaek<\/span><\/strong>, is recognized as a leading player in the Thai real estate market, continuously creating new phenomena that shake up the industry.

In 2022, despite announcing a business plan under the concept of Origin Multiverse or multiverse growth strategy, paving the way for new businesses such as real estate services and hotel businesses, Origin continues to foster growth in its condominium development business, which is its “core business”. This year alone, the company plans to launch 19 new condominium projects with a total value exceeding 28.6 billion baht, solidifying its position as the “market leader” in launching new condominium projects this year.

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Diving into Every Price Segment and Lifestyle<\/strong><\/span>

The condominium business expansion of the Origin Property Group continues through three main companies: Park Luxury Company Limited<\/strong><\/span> managing the luxury condominium segment, Origin Condominium Company Limited overseeing the smart condominium business, and Origin EEC Company Limited focusing on condominiums in the Eastern Economic Corridor (EEC).

When asked about the condominium market penetration strategy for this year, Pheeraphong Jaroonaek, CEO of Origin Property Public Company Limited (ORI)<\/strong><\/span>, a comprehensive real estate developer, explained that the approach involves two main strategies: 1. Penetrating Every Price Segment and Lifestyle<\/strong><\/span>. After several years of launching new brands covering all price levels from Entry to Luxury, Origin continues to develop new brands and adjust products according to consumer lifestyle segments, recognizing that consumer demand today is not solely defined by product levels or purchasing power.

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“Last year, we began to explore new target markets, developing condominiums for startups, pet lovers, students, and working university individuals, or Campus Condos. These markets received a very positive response, so this year we will continue to penetrate these markets with new brands that have distinct personalities, such as So Origin and Origin Play, to cater to every lifestyle and generation,” Pheeraphong stated.

Pushing into Electric Train Lines Across Bangkok and the EEC<\/strong><\/span>

2. Targeting Electric Train Locations, Both Current and Future<\/strong><\/span>. Historically, Origin has grown by employing a Blue Ocean strategy, targeting potential markets with less competition, particularly in areas near the green line extension and the EEC. Today, Origin continues to adhere to this strategy for Entry to Mid-High End brands, resulting in 19 projects this year distributed across completed electric train locations and eight lines currently under construction, covering the entire Bangkok area and its outskirts, including the light green line, blue line, purple line, red line, pink line, yellow line, brown line, and gray line, alongside a strong push into the EEC in Chonburi and Rayong.

“This year is likely to be the year we cover the most electric train lines since our establishment, and it’s the first time we are building condominiums in the Thonburi area. We still believe that the Blue Ocean strategy remains applicable for many segments, especially in an era where people do not need to go to the office every day, as evidenced by the sales of Origin Plug & Play Sirindhorn Station, which have already reached about 70%,” <\/p>

Moreover, Origin is not solely focused on Blue Ocean locations as in the past but also emphasizes potential locations with sufficient demand, such as interchange locations or points connecting multiple electric train stations and CBD areas in the city center, depending on the demand suitability in the area.

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Understanding Insights is the Key to Success<\/strong><\/span>

The main brands used to penetrate the condominium market of the Origin Group this year include So Origin, a high-end condominium offering excellent services, Origin Plug & Play, targeting startups with larger spaces and Duo Space rooms with ceilings up to 4.2 meters in some locations, Hampton, and Origin Place, targeting investors, Origin Play, aimed at Gen Z, and Brixton, focusing on niche markets such as Campus Condos and Pet Lover Condos at accessible prices.

“We dare to push hard because our team has been working diligently to understand consumer insights. We try to look at every journey of the consumer, from before purchase to moving in, to see where consumers are at each moment, what they are doing, and what they need. The functions we provide may not be the most extensive, but they are the most relevant and meet the real-life needs of consumers in the modern world. All of this is considered a key success factor that has earned the Origin Group trust, leading to an all-time high sales record in 2021,” Pheeraphong concluded.

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The announcement of new condominium projects by Origin Property represents another phenomenon that significantly shakes the Thai real estate industry, especially during a time when many companies are still observing market trends. However, due to the company's potential, the quality of project locations, project quality, the ability to develop projects according to plans, and genuine access to consumer groups, as evidenced by past performance, make Origin Property a developer to watch closely.

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