ORN has announced its business direction for the final quarter of 2024, indicating positive signals and confidence in the potential of Chiang Mai, which supports the increasing demand for housing from both Thai and foreign residents. The company is accelerating the launch of 3 new projects, including:

  • HABITAT Ruamchok, with a total project value of 1.127 billion baht
  • Low Rise condominium project ARISE HILL, valued at 828 million baht
  • ARISE project (Phuket), with a total project value of 1.115 billion baht

The sales target is set at 664.71 million baht, with a transfer target of 514.82 million baht, and a backlog of 1.38276 billion baht. In addition, the new business, Mill Hill International School Thailand, has received positive feedback, attracting interest from both Thai and foreign parents. The company is also ready to launch the Life Style Market “Kad Dern Ploen,” a shopping destination in the city center, in time for the tourism season, supporting continuous growth.

Mr. Arakdet Udomsiri Thamrong, Deputy CEO of Orn Sirin Holding Public Company Limited (ORN), revealed the business direction for the final quarter of 2024, noting a positive trend in sales and bookings for various projects, which are expected to continue growing. This aligns with the overall real estate market in Chiang Mai, which continues to expand due to infrastructure development, business growth, and tourism, as well as the natural environment and the increasing number of both Thai and foreign tourists. This makes Chiang Mai a prime target for real estate investment, which will be a key factor driving the real estate market.

In the fourth quarter of 2024, the company will launch the luxury single-house project HABITAT Ruamchok, featuring French eclectic style, with a total project value of 1.127 billion baht. The VIP pre-sale launched in October received a good response, with the first phase already 50% booked.

Additionally, the company is preparing to launch two Low-Rise condominiums in prime locations in Chiang Mai and Phuket, including the ARISE HILL project in Chiang Mai, a pet-friendly condominium designed for the new generation, catering to all lifestyles in a conveniently connected location near Central Festival, valued at 828 million baht, and the ARISE (Phuket) project, a fully furnished condominium in the heart of Phuket, close to shopping malls, hospitals, and Bang Tao Beach, with a total project value of 1.115 billion baht.

Moreover, the company is actively organizing promotional activities to stimulate sales, such as project events, special discounts for customers who book within a specified period, and partnerships with leading banks to offer special loan programs to drive sales and increase revenue. The sales target is approximately 664.71 million baht, with a transfer of ownership target of 514.82 million baht. As of September 30, 2024, the company has a backlog of approximately 1.382 billion baht, which can gradually recognize revenue starting in the fourth quarter of 2024.

“We are confident that the company will achieve continuous growth due to our expertise in developing residential projects in tourist city areas, allowing us to effectively select project locations. Coupled with our understanding of consumer behavior and the needs of our target market, we can develop projects that meet their demands. Alongside our cost management strategies, this will enable the company to maintain a suitable profit margin,” said Mr. Arakdet.

Regarding the Mill Hill International School Thailand, the school has been continuously organizing activities to introduce its curriculum, receiving positive feedback from parents and students. The school is preparing to officially launch its management team and staff soon. Additionally, it is ready to open “Kad Dern Ploen,” a shopping destination to welcome the tourism festival, supporting continuous growth,” said Mr. Arakdet.

For the financial results for the 9 months of 2024, the company reported total revenue of 818.47 million baht and a net profit of 64.76 million baht.