Origin Property has launched the campaign "Land for Condo in the CBD" allowing landowners in various locations to exchange their vacant land with potential across the country for ready-to-move-in condos in the CBD that can generate immediate income. The campaign highlights three advantages: reducing the opportunity loss from unused land, lowering tax burdens compared to residential property taxes, and opening immediate income-generating opportunities. The focus is on locations that can further business development in Bangkok and provinces nationwide, aiming to transform new land into various real estate projects.

Mr. Krit Techasammas, Chief Marketing Officer of Origin Vertical Corporation, a subsidiary of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, revealed that in the past, the Origin Property group has opened opportunities for collaboration with landowners (Landlords) nationwide to co-invest with the company to develop residential projects and share returns together. Recently, the company has introduced a new model for collaboration with Landlords under the campaign "Land for Condo in the CBD," allowing landowners in potential locations nationwide to exchange their land for ready-to-move-in condominiums. The pilot project will feature the Park Origin brand, a luxury project in five CBD locations, including Phrom Phong, Thonglor, Phaya Thai, Ratchathewi, and Chula-Samyan.

“The major pain point for many Landlords is having land but not being able to generate income, while incurring ongoing expenses from land taxes. If a Landlord invests in property development, they may face risks and high investment costs. Co-investment is one option for Landlords who still want to own land and run a business. Today, we have a new alternative for those looking to convert land into income-generating assets immediately, without waiting for development,” Mr. Krit stated.

This campaign will benefit Landlords in three ways: 1. Reducing opportunity loss from leaving land unused. 2. Lowering tax burdens, as the current property tax rate for residential properties, including condominiums, is between 0.02-0.10% per year, depending on the property value, while the tax rate for unused land can be as high as 0.3-0.7% per year, with an additional 0.3% every three years. 3. Increasing opportunities to generate income from renting out condominiums, as projects in the CBD continue to attract significant interest from tenants, with rental yields being very attractive. For instance, the Park Origin Thonglor project offers rental yields of up to 5-7%, and currently, the occupancy rate under the Origin Investment Property Program averages around 85%.

Mr. Krit added that since the company operates a comprehensive real estate business, it is interested in land that can be developed in various forms, whether residential properties like condominiums and houses or projects that generate regular income, such as hotels and warehouses, depending on the location, size of the land, and other suitability factors. If the land is in the city center, business districts, or near public transport, the company will consider it with special attention.

For landowners, they will receive a number of condominium units equivalent to the agreed land price, with the option to choose units from the same project or different locations. Interested parties can submit land details for assessment at https://oriurl.com/landforcondo.

Origin Property Public Company Limited (ORI) has a diverse business structure, including:
1. Residential Development Business, having developed 163 projects (as of Q2 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 253,198 million baht.

2. Recurring Income Business, such as hotels, serviced apartments, and retail.

3. Service Business, including resident services, property management, real estate brokerage, and consulting services.

4. Long-term Mega Trends Business, focusing on new business areas with long-term growth potential, such as logistics, healthcare, energy, finance, and entertainment, aimed at enhancing the quality of life for consumers comprehensively.