"Origin" announces joint venture project with "Nomura" in Arena 10, in the heart of Thonglor, launching a luxury condominium empire valued at 11 billion baht under the "Park" brand, aiming to become the number one condominium brand and a leader in the comprehensive real estate business.

          Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited (ORI), the developer behind the Kensington, Notting Hill, Knightsbridge, and Park brands, stated that during the company's 12th board meeting on November 1, 2017, it was resolved to enter into a joint venture with Nomura Real Estate Development Co., Ltd. (NRED) by selling common shares of Origin Park T1 Co., Ltd., a wholly-owned subsidiary of the company, totaling 49,000 shares (with a par value of 10 baht per share), representing 49% of the common shares, or a registered capital of 490,000 baht, with the total share sale price amounting to 397,463,500 baht, which NRED will pay in cash.

          Origin Park T1 Co., Ltd. was registered on October 30, 2017, with a registered capital of 1 million baht to develop a high-end condominium project on the Arena 10 land plot (Thonglor Soi 10), which is located in the heart of Thonglor, valued at 11 billion baht under the "Park" brand. This project marks the first development under the Park brand since the company partnered with Proud Residence Co., Ltd., aiming to establish it as a high-end brand to expand into the upper market and international markets, with construction expected to commence in 2018.

          "This collaboration with Nomura for project development represents a continuous partnership to facilitate knowledge exchange in innovation, design, and know-how with a company recognized for its significant market share in Japan's residential sector, and will be a crucial step for Origin to become a leader in the comprehensive real estate business and to establish itself as the number one brand in consumers' minds, just like Nomura's condominium brand."

          Previously, the company launched three joint venture projects with Nomura this year, including 1. Knightsbridge Prime On Nut, 2. Knightsbridge Prime Ratchayothin, and 3. Knightsbridge Collage Ramkhamhaeng, with a total project value of 6.1 billion baht. Looking ahead, the company plans to continue its real estate investment collaboration with Nomura in various forms, including condominium development and other businesses such as office building development and management, hotels, and real estate service businesses.

          Currently, Origin Property Public Company Limited has a diverse business structure, including 1. Project Development Business, having developed approximately 44 condominium projects with a total project value of over 43.5 billion baht, 2. Recurring Income Business, such as hotels, serviced apartments, and retail, and 3. Service Business, including property management, real estate brokerage, consulting services, and a vision to continuously expand into new business types to become a comprehensive real estate operator.

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