Origin Property Announces Financial Resultsfor Q3/2023, with over 6.3 billion in residential transfer activities from both JV and Non-JV projects, marking a 43% increase from the previous year, alongside a net profit of 1 billion, growing 18% compared to the previous year. The company attributes its sustainable growth to various success factors, such as establishing a diversified risk portfolio, continuous revenue recognition from large-scale projects under the Park Origin brand, and ongoing partnerships. In Q4/2023, the company plans to launch 12 new housing and condo projects valued at 15.14 billion, confident in delivering quality products and services that meet Life Convenience needs.

Mr. Pirapong Jaruoneak, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, stated that in Q3/2023 (July - September 2023), the company recorded residential transfer activities from both Non-JV and JV projects totaling over 6.359 billion, a 43% increase compared to the same period last year, resulting in a net profit of 1.004 billion in Q3/2023, an 18% growth year-on-year.

“Despite various external factors affecting the global economy, we have managed to maintain stable growth this quarter due to our established diversified risk portfolio covering various markets and segments for some time. Additionally, we have large luxury condominium projects under the Park Origin brand that have been gradually completed since the second half of 2022 until mid-2023,” Mr. Pirapong stated.

At the same time, partnerships with developers in housing, condominiums, hotels, and warehouses, along with financial investment partners and landowners, have been crucial for the company’s strong and sustainable performance. In Q3/2023, there were new joint ventures in both the condominium and housing sectors totaling 11 projects, valued at over 15.74 billion, distributed nationwide according to the Endless Growth Plan or Origin Infinity. Additionally, One Origin Public Company Limited (ONEO), which manages recurring revenue businesses within the group, has acquired hotels in Chiang Mai and Phuket to strengthen its hotel business portfolio.

For Q4/2023, the company has condominium projects that will begin transferring ownership for the first time, including 4 projects: Origin Plug & Play Ramkhamhaeng Triple Station, Origin Plug & Play Ramintra, Brixton Rayong, and Brixton Campus Bangsaen, each with an average backlog of over 85%. Additionally, 6 housing projects will gradually transfer ownership, including Grand Britania Thawiwatthana, Grand Britania Wongwaen-Prachautid, Grand Britania Chaiyaphruek-Chaengwattana, Britania Bangna-Srivaree, Britania Bangna-Thepharak, and Britania Ratchaphruek-Kanchanapisek.

Meanwhile, the company plans to launch 12 new residential projects in Q4/2023, distributed across Bangkok, the surrounding areas, the Eastern Economic Corridor (EEC), and major provinces, with a total project value of over 15.14 billion. This includes 1. Housing projects under Britania Public Company Limited (BRI) totaling 8 projects valued at 10.15 billion, and 2. Condominium projects totaling 4 projects valued at 4.99 billion, which will help strengthen sales. In the first 9 months, the company has achieved sales of over 36.937 billion, or about 82% of the annual sales target, and expects to meet the year-end sales goal while continuously delivering quality products and services that cater to Life Convenience.