Origin Property recorded residential transfer activities in Q2/2023 at over 4.812 billion, a 9% QoQ growth, while pre-sales reached a new high of 12.461 billion baht. In the first half of the year, pre-sales accounted for 54% of the annual target, as the company continues to expand its business nationwide according to plan, with an Open Platform for joint ventures in housing, condos, hotels, and warehouses, adding 25 projects worth over 25.27 billion baht throughout the quarter. This aims to support the Origin Infinity plan, increasing opportunities to diversify portfolios and generate income in potential provincial locations. The new hotel opened at the end of Q1/2023, “Staybridge Suites Bangkok Sukhumvit,” achieved an occupancy rate exceeding 92% by the end of Q2/2023, resulting in a net profit of 873 million baht for the quarter, a 9% QoQ increase, with a strong backlog of 46 billion baht expected to generate revenue over the next five years. The board has approved an interim dividend of 0.16 baht per share, with XD marking on August 28.

Mr. Pirapong Jarunek, CEO of Origin Property Public Company Limited (ORI) , a comprehensive real estate developer, revealed that during Q2/2023 (April - June 2023), the company recorded residential transfer activities exceeding 4.812 billion, a 9% growth compared to the previous quarter, driven by both Non-JV and JV projects transferring as planned. Meanwhile, the company consistently achieved a new high in pre-sales for residential projects at 12.461 billion baht, resulting in accumulated pre-sales of approximately 54% of the annual target in the first half of the year.

Additionally, in this quarter, the company advanced joint ventures (JV) with partners, launching new collaborations in housing, condominiums, hotels, and warehouses, totaling 25 projects valued at over 25.27 billion baht (including estimated REIT values for hotel and warehouse projects), the highest since the company's inception. This includes 11 projects with Investment Partners valued at approximately 12.144 billion baht and 14 projects with Landlord Partners valued at approximately 13.126 billion baht. The company has increasingly opened up joint ventures (Open Platform) with Landlord Partners, having developed clearer joint venture models since late 2022. This has resulted in a rapid increase in both Investment Partners and Landlord Partners, along with more land in potential locations both in urban and provincial areas, allowing for project development with lower capital investment, aligning with the Origin Infinity plan to expand revenue-generating areas in new potential locations nationwide, ensuring stability and sustainability for the company's long-term growth.

In the hotel business under One Origin Public Company Limited (ONEO), the recently opened Staybridge Suites Bangkok Sukhumvit, part of the Staybridge Suites brand from InterContinental Hotels Group (IHG), has received excellent feedback, achieving an occupancy rate of 92.13% in June. This has contributed to a net profit of 873 million baht for Origin Property in Q2/2023, a 9% growth compared to the previous quarter.

Due to stable performance and maintained growth throughout the first half of 2023, the board of directors has approved a proposal to the annual general meeting of shareholders to distribute dividends from retained earnings and the company's performance for the period from January 1 to June 30, 2023, at a rate of 0.16 baht per share, amounting to a total cash dividend of no more than 392,659,592 baht. The XD mark will be on August 28, 2023, with the record date for shareholders entitled to receive dividends on August 29, 2023, and the dividend payment to shareholders by September 13, 2023.

For the second half of 2023 (July - December 2023), although the market conditions will have various factors to monitor closely, such as the establishment of a new government and adjustments in policy interest rates, the company's expansion plans into major cities nationwide this year provide opportunities to access new potential markets with high demand and no direct competitors. Therefore, the company will continue to launch new projects as planned and consider additional joint ventures for about 5-10 new projects each quarter.

Furthermore, the company has a backlog of sales awaiting revenue recognition (backlog) at the end of Q2/2023 of approximately 46.564 billion baht, which will be recognized strongly and continuously from 2023 to 2027. The company also has several projects that will continue to transfer ownership from the first half of this year, such as Park Origin Chula-Samyan, Park Origin Ratchatewi, Soho Bangkok Ratchada, The Origin E22 Station, and over 20 new projects to be completed in the second half, including condominium and housing projects.