Origin Property has achieved a new sales record in Q2/2023, exceeding 12.461 billion baht, supporting total sales of homes and condos in the first half of the year to over 24.465 billion baht, growing by 38% compared to the same period last year. Following the implementation of the Origin Infinity plan, the company has expanded its portfolio by launching new housing and condo projects nationwide, particularly in the Thonburi area, such as Siriraj-Phetkasem and other provinces, achieving sold-out status for projects like “Origin Place Phetkasem” and “Origin Place Phahol 59 Station”, while also achieving a smooth take-up rate for “So Origin Siriraj”, “The Origin Center Phuket,” and “The Origin Campus Khon Kaen,” with designs and layouts that resonate with market demands. In the second half of the year, the company plans to aggressively market residential properties, launching an additional 24 projects worth a total of 28.76 billion baht, aiming for annual sales to exceed 45 billion baht as targeted.

Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, revealed that in Q2/2023, the company achieved sales of over 12.461 billion baht, growing approximately 29% compared to the same period last year. The sales breakdown includes around 77% from condominiums and about 23% from single-family homes under Brittania Public Company Limited (BRI), a subsidiary. In terms of project status, sales from ready-to-move-in projects accounted for about 43%, while sales from newly launched projects and those under construction accounted for approximately 57%. This resulted in total sales from housing and condominium projects in the first half of 2023 reaching approximately 24.465 billion baht, a 38% increase compared to the first half of the previous year, representing 54% of the annual sales target.

“Although the real estate business situation in the first half of this year has been relatively stable due to the government's cancellation of the loan-to-value (LTV) relaxation measures since the end of 2022, the overall sales of the Origin group continue to grow. This is because we are moving forward with our business expansion plan, Origin Infinity, to broaden our portfolio of housing and condominium projects nationwide, allowing us to tap into new potential locations and markets continuously,” Mr. Pirapong stated.

The continued push into new markets has helped maintain sales for the company. For instance, in the Thonburi area and the extension of the Green Line subway, the company successfully sold out projects like Origin Place Phetkasem near the MRT Phasi Charoen and Origin Place Phahol 59 Station within the first half of the year. At the same time, projects like So Origin Siriraj and condominiums in provinces such as The Origin Center Phuket and The Origin Campus Khon Kaen have also received excellent responses, with an average take-up rate exceeding 70%. Additionally, the Britania Maliwan project in Khon Kaen has achieved sales of up to 90% of the completed units.

Mr. Pirapong further stated that the excellent response in various areas stems from an understanding of consumer behavior across generations and creative designs that meet practical needs, allowing the development of projects with distinctive layouts and flexible, innovative functionalities that have never been seen before in many locations, such as the introduction of Duo Space with a ceiling height of 4.2 meters and Pet Condos.

For the overall outlook in the second half of this year, the tourism sector will continue to be a key driver of the economy. If a new government is established by August as scheduled, it is expected to play a significant role in stimulating the economy in the second half. Coupled with the positive response in new potential locations nationwide, the company plans to launch another 24 projects worth a total of 28.76 billion baht, distributed across various potential locations nationwide, starting with condominium projects from the heart of the city like Grand Hampton Thonglor to major cities like So Origin Khao Yai, So Origin Bangtao Phuket, Origin Place Phuket, and Origin Place Hua Hin. Meanwhile, for single-family homes, the focus will be on launching new projects in the western part of Bangkok, such as Ratchaphruek, Chaiyaphruek, Taling Chan Westgate, and areas in the Eastern Economic Corridor (EEC) like Chonburi, Rayong, and Chachoengsao.

From these operational plans, it is believed that they will play a crucial role in generating new sales in key locations and result in the company’s overall sales this year exceeding 45 billion baht as targeted.