"Origin Property" partners with Japanese real estate giant "Nomura Real Estate" to actively invest in the Gen Z condo market, pushing the cumulative joint venture value to over 45.3 billion baht.

Mr. Peerapong Jaroonaek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, revealed that the company's multiverse growth plan, or Origin Multiverse, has increased confidence among foreign investors in joint venture projects with the company. Recently, the company has partnered with Nomura Real Estate (Thailand) Co., Ltd., part of Nomura Real Estate Development Co., Ltd., a major Japanese real estate developer, to develop another condominium project called Origin Play Sri Udom Station worth 2.1 billion baht. This follows four joint venture residential projects completed in the first quarter of 2022, including So Origin Phahol 69 Station, Origin Plug & Play Srinakarin, Britania Town Bangna KM 17, and Britania Home Bangna KM 17, signaling a positive trend in ongoing investments.

 

"The Thai real estate market in 2022 continues to have supportive factors for long-term growth, such as mega project developments and progress in various electric train constructions. Coupled with Origin's consistent sales and revenue growth, Nomura remains confident in advancing joint residential projects with us. This year alone, we have added five joint ventures, and we expect more new joint projects to emerge continuously," said Mr. Peerapong.

The additional joint ventures have resulted in Origin Property and Nomura Real Estate Development collaborating on a total of 17 residential projects, with a cumulative joint venture value of 45.3 billion baht in the condominium sector. Previous collaborations have focused on luxury condominium brands such as Park Origin and high-end brands like KnightsBridge and SOHO Bangkok. The first three joint condominium projects of this year specifically target the Gen Z market, enhancing the overall joint venture coverage between Origin and Nomura across all segments.

Mr. Peerapong further stated that these additional collaborations reflect the trust from partners who continue to believe in the company's growth vision and strength, particularly in product quality development, brand enhancement, and adapting insights from consumer studies to reach target customers in both the short and long term.

However, the company continues to consider joint ventures with both existing partners, such as Nomura Real Estate Development, its first foreign partner since mid-2017, and new partners from various industries to ensure robust and significant growth across all universes as per the Origin Multiverse plan. This may include joint ventures in all business segments, including residential projects, income-generating projects like hotels, and other businesses that will create new opportunities for the Origin Property group in the future.

The Origin Play Sri Udom Station project is a new concept condominium that caters to the diverse lifestyles of Gen Z. It is situated on a 6-0-85 rai plot, featuring four 8-story buildings with a total of 917 residential units and two retail units. The project boasts high ceilings of 2.65 meters and spacious living areas ranging from 23 to 34.9 square meters, with flexible functions to suit various lifestyles. Additionally, it is a pet-friendly project equipped with comprehensive amenities, including a co-working space, grab & go station, fitness center, swimming pool, cat & dog corner, jogging track, roof garden, activity space, and multifunction room, enhancing the living experience with features like VR Games and Virtual Fitness. Conveniently located near the Yellow Line electric train (600 meters from Sri Udom Station), Green Line (3.3 km from Udom Suk Station), and the Bangna-Suvarnabhumi LRT (1.9 km), the area is surrounded by shopping malls, markets, hospitals, schools, and leading universities, with prices starting at 1.80 million baht.