Origin Property Navigates the Market Situation of 2023 reported that in the first half of 2023, the company achieved home and condo sales exceeding 18.33 billion baht. This success is attributed to the Origin Pet Family concept, featuring pet-friendly condos and projects in economic cities. The second half of the year will focus on launching new projects in high-potential locations, targeting cash buyers and clearing existing stock while developing new customer access channels.

Mr. Pirapong Jarunake, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, revealed that in the first half of 2023 (January - June 2023), the company recorded total sales from residential projects of 18.33 billion baht. This includes sales from the housing development segment under Britania Public Company Limited (BRI), amounting to approximately 3.807 billion baht, accounting for 21%, and sales from the condominium segment of about 14.524 billion baht, making up 79%. In terms of project status, sales from ready-to-move-in projects accounted for 49%, while sales from newly launched and ongoing projects made up 51%.

Among the standout projects in the first half of this year are the pet-friendly condos under the Origin Pet Family concept, led by Origin Place Chaengwattana and Origin Place Taopoon Interchange, the first pet-friendly projects in the Chaengwattana and Taopoon areas, which were launched in the second quarter of 2023. Additionally, the condominium project in tourist cities, SO Origin Bangtao Beach, which was launched in the first quarter of 2023, has received an excellent response, achieving over 80% in accumulated sales.

“The overall real estate market this year has slowed down compared to last year, but we expect it to gradually improve in the second half due to government measures to stimulate the real estate sector, such as reducing transfer and mortgage fees. However, beyond these external positive factors, it is crucial for us to target markets with genuine purchasing demand and select segments with fewer competitors,” said Mr. Pirapong.

Mr. Pirapong further stated that the sales strategy for the second half of 2023 focuses on three key areas: 1. Clearing existing inventory by preparing new promotions for ready-to-move-in projects, including marketing promotions and partnerships with financial institutions to enhance customer access to housing projects; 2. Selecting suitable locations for new project launches, ensuring demand from various customer groups, including end-users, long-term investors, and foreign markets, particularly in provincial cities with cash-rich customers; and 3. Increasing access opportunities for new customers by developing platforms that facilitate project transactions anytime, anywhere.

“This year’s market is challenging as overall purchasing power is still contracting. However, Origin remains committed to maintaining a Disruptor Mindset. We have navigated through the COVID-19 period by adapting quickly and continuously. We believe that the three strategies we will pursue moving forward will help us adapt while delivering quality housing products to consumers alongside sustainable business operations,” Mr. Pirapong concluded.

Origin Property Public Company Limited (ORI) has a diverse business structure, including: 1. Residential Development Business, having developed 159 projects (as of Q4 2023) such as Park Origin, So Origin, Origin Plug & Play, Knightsbridge, Notting Hill, Origin Place, The Origin, Kensington, Hampton, Origin Play, Brixton, and Britania, with a total project value exceeding 242.744 billion baht; 2. Recurring Income Business, including hotels, serviced apartments, and retail; 3. Service Business, including resident services, property management, real estate brokerage, and consulting; and 4. Long-term Mega Trends Business, focusing on new growth areas such as logistics, healthcare, energy, finance, and entertainment to enhance the quality of life for consumers comprehensively.