ORN has unveiled its business plan for 2024, focusing on aggressive growth through both Organic and Inorganic strategies, launching a total of 6 projects valued at 4,302 million baht. The company aims to expand into high-potential locations and tourist cities, starting with Phuket. Additionally, it is diversifying its business with the establishment of the first British international school, Mill Hill, in Chiang Mai, and launching the PROPSQUARED platform, a comprehensive property listing service for real estate agents, along with a Life Style Market that will serve as a hub for shops, restaurants, and a fresh market in the city center.

Mr. Pridikorn Buranupakorn, CEO of Orn Sirin Holding Public Company Limited (ORN), stated that in 2024, the company aims for growth through both Organic and Inorganic means to expand its core business and create new business opportunities for sustainable growth. For its core business, the company plans to develop 6 real estate projects worth a total of 4,302 million baht, including 4 low-rise projects in Chiang Mai valued at 2,379 million baht and 2 high-rise projects valued at 1,923 million baht, which include:

1. ORNSIRIN VILLE (TARUA) - Commercial twin houses in a modern homely style located on the outer ring road, project value 337 million baht, set to launch in Q1 2024.

2. URBAN MYX (Banden-Rajavej) - Modern multi-purpose shophouses in the city center, project value 56 million baht, set to launch in Q2 2024.

3. ORNSIRIN VILLE (Sansai) - Detached and twin houses in a Country Classic style with a European atmosphere, located near Ruamchok Mall and Maejo University, project value 886 million baht, set to launch in Q2 2024.

4. HABITAT (Ruamchok) - Luxury French Eclectic style houses located near Ruamchok Mall and government center, project value 1,100 million baht, set to launch in Q3 2024.

5. ARISE (Sansai) - The first low-rise pet-friendly condominium in Chiang Mai, near Central Festival, fully furnished, project value 1,146 million baht, set to launch in Q3 2024.

Additionally, the company is expanding its projects to other regions, starting with Phuket, preparing to launch ARISE (Phuket), a low-rise condominium in the city center near shopping malls and hospitals, close to Bang Tao Beach, with a total project value of 777 million baht, and pre-sales expected in Q4 2024.

“The company continues to seek opportunities to expand projects into provinces with potential and tourist cities through business partnerships and other collaborations to ensure continuous growth. This year, the company has set a sales target of no less than 2,500 million baht,” said Mr. Pridikorn.

Mr. Akkadech Udomsiri Thamrong, Deputy CEO of ORN, stated that the overall real estate market in Chiang Mai is trending positively, supported by the expansion of transportation systems, economic growth in the province, and the recovery of the tourism industry, leading to increased business investments and a migration of residents to the economic center.

The company plans to accelerate the expansion of mid to high-end real estate projects, focusing on prime locations and construction innovations that meet the needs of customers looking for a primary residence, a second home for relaxation, or properties for their children studying in Chiang Mai, as well as for investment and rental purposes.

At the same time, the company is ready to expand into new businesses to create additional revenue streams, preparing to launch the first British international school in Chiang Mai, taught by staff and using the curriculum from Mill Hill School, a prestigious institution in England with over 200 years of history.

Orn Sirin is investing in the construction of the school building with an initial budget of over 170 million baht on land already acquired in Chiang Mai, ready for development. Construction is expected to begin in 2024, with the first phase opening for kindergarten to Year 1 students by 2025.

Furthermore, the company is preparing to launch the PROPSQUARED platform, a medium for buying, selling, and renting houses and condominiums for residents of all Orn Sirin projects, featuring user-friendly technology that allows real-time updates and marketing solutions for both Thai and foreign real estate agents.

Additionally, plans are in place to open a Life Style Market, a hub for shops, restaurants, fresh markets, and a shopping area in the outer ring zone (Tarua intersection), easily connecting to the city center of Chiang Mai, featuring over 200 stores to cater to the modern lifestyle of today's consumers, on a 5-rai plot of land owned by Orn Sirin. Construction is expected to begin in 2024, with revenue generation anticipated in 2025.

Nevertheless, the company remains focused on developing real estate projects that meet customer needs comprehensively. This year, it has allocated a budget of 1,700 million baht for land acquisition to support ongoing future project development, while also seeking investment opportunities in businesses related to its core operations and creating opportunities for new business expansion to enhance future growth.