Origin Property has finalized a big deal selling 2 condominium projects in the BTS Green Line area of Samut Prakan, namely Knightsbridge Sukhumvit-Thepharak and Origin Plug & Play Sailuat Station, to "Delta" totaling 415 units worth over 1 billion baht, with over 80% of the payment already received, and the transfer of ownership will gradually occur in Q2-3/2024.

Delta sees the opportunity for fully functional accommodation that meets the lifestyle needs of expatriates staying for short to medium-term work in Thailand, and is moving forward with the continuous transfer of ownership while also seeking more big lots in employment areas and industrial estates with various companies.

Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited or ORI, a comprehensive real estate developer, revealed that the company has successfully closed a deal selling 415 condominium units in the BTS Green Line area of Samut Prakan worth over 1.023 billion baht to Delta Electronics (Thailand) Public Company Limited or DELTA, a leader in energy and thermal management solutions and electronic component manufacturing.

The projects sold in this big lot deal include:

1. Knightsbridge Sukhumvit-Thepharak, a high-end ready-to-move-in condominium project with 137 units valued at 368 million baht.

2. Origin Plug & Play Sailuat Station, the only pet-friendly condominium project in Samut Prakan, featuring high ceiling rooms with 278 units valued at 655 million baht.


Knightsbridge Sukhumvit-Thepharak


Origin Plug & Play Sailuat Station

“This is another example of advancing the business in new ways. We are not limited to selling condos to individual residents but are looking at the market more broadly by selling condos to stable companies with production bases in Thailand that need housing for a large number of employees. This deal reflects the trust of a giant company like Delta in the Origin group and highlights our opportunities in the residential market near the BTS line close to employment sources,” said Mr. Pirapong.

In this big lot sale to Delta, the company has already received over 80% of the payment, which includes the transfer of ownership from the ready-to-move-in Knightsbridge Sukhumvit-Thepharak project and advance payments for the under-construction Origin Plug & Play Sailuat Station project before its completion in Q1/2025, serving as benefits for Delta's expatriate staff working temporarily in Thailand.

Mr. Pirapong further stated that the big lot sales model helps generate both sales and ownership transfers for the company quickly. For instance, in the case of the Origin Plug & Play Sailuat Station project, big lot sales account for more than 25% of the total project value and also enable the company to receive ownership transfers faster than regular sales, positively impacting liquidity management and shortening the capital cycle.

In the past, in addition to developing products with new functions that meet consumer lifestyle needs, such as 4.2-meter high ceilings and features catering to both humans and pets, the company is also committed to continuously developing new marketing innovations. This has resulted in the company having sales models catering to both end-users and long-term investors under the Origin Investment Property Program, as well as foreign customers. Opening up the B2B customer market that purchases big lots will be another model the company pursues to meet the needs of corporate clients looking for comprehensive living solutions.

We also have several condominium projects that can meet the needs of B2B customers in the BTS Green Line area of Samut Prakan, which is close to manufacturing and logistics hubs, as well as in the Eastern Economic Corridor (EEC) near industrial estates, ready to cater to various business and industrial groups.