ORN reveals positive trends for Q2/69, showcasing pre-sale revenue from April to early May at 485.17 million baht, reflecting strong housing demand in Chiang Mai and Phuket. The company is poised to book special profits and is focused on tight business management and construction cost control. They are launching campaigns that address Real Demand, emphasizing Smart Home and Green Building concepts to differentiate their offerings and boost sales. The financial results for Q1/69 show total revenue of 501.36 million baht and a net profit of 40.15 million baht.

Mr. Arakdet Udomsirithamrong, Deputy CEO of Orn Sirin Holding Public Company Limited (ORN), stated that the business direction for Q2/2569 shows continuous growth. As of May 15, 2569, the company has pre-sale revenue of approximately 485.17 million baht from high-rise projects such as ARISE HILL, THE Next 7, and ASTRA INFINITE. Meanwhile, the ARISE VIBE project in Phuket has over 70% construction progress and has achieved sales of 1,096 million baht. Additionally, the low-rise project HABITAT MAHIDOL has recorded sales of over 193.07 million baht, reflecting the demand for housing in prime locations and modern lifestyle concepts. The company is also preparing to recognize special profits from land expropriation at the end of Q2-3/2569, estimated at around 51.02 million baht.

Furthermore, the company is focused on risk management and maintaining liquidity while developing new projects that meet the real target groups to drive sales and maintain competitiveness. They have adjusted their construction cost management strategy, reducing the percentage of materials purchased by contractors from about 50% to 25%, allowing the company to take more control over procurement and effectively manage costs. They are also locking in material prices in advance for nearly all projects scheduled for transfer this year to mitigate the impact of fluctuating construction material costs.

At the same time, ORN continues to differentiate itself by incorporating Smart Home technology alongside sustainability concepts. ORN is one of the first real estate developers in Chiang Mai to seriously implement Green Building concepts, aiming to develop projects that meet international green building standards (EDGE Certified) by 2570.

They are also expanding their subsidiary business, preparing to launch Phase 2 of the international school and the second-hand property business, which has received positive feedback. Currently, there are 10 units undergoing renovation, which will help generate regular income, diversify business risks, enhance competitive potential, and support long-term growth. “Although the overall real estate market in Q2/2569 faces challenges from economic conditions and sluggish purchasing power, the company is operating cautiously, prioritizing cash flow management and stock clearance through promotions that cater to Real Demand customers, both Thai and foreign,” said Mr. Arakdet.

However, the company sees opportunities in the mid-to-high-end housing market, particularly in condominiums and low-rise homes in tourist cities like Phuket, where there is still demand from foreign customers for both residence and investment rental. Additionally, Chiang Mai remains a key hub in the north and continues to attract interest from foreign retirees and working professionals, despite increasing competition in the market regarding promotions, design, and living functionality,” Mr. Arakdet stated.

For the financial results of Q1/2569, the company reported total revenue of 501.36 million baht, an increase of 14.51%, and a net profit of 40.15 million baht, up 3.93% from the same period last year.