Origin is moving forward to create "The Empire of Origin," gearing up for the luxury market with plans to develop a luxurious mixed-use kingdom called "Park Origin Complex" in 3 prime locations, with a total value exceeding 70 billion baht. The company is assembling a team of executives to lead the JV, low-rise housing, rental properties, and services, aiming to build a comprehensive real estate kingdom. In 2018, they plan to launch 14 new projects worth 30 billion baht, targeting sales of 20 billion baht and revenue surpassing 15 billion baht.

Mr. Pirapong Jarunek, CEO of Origin Property Public Company Limited (ORI), a developer of condominium projects under the Kensington, Notting Hill, Knightbridge, and Park brands, as well as low-rise housing under the Britania brand, stated that the company's operational direction will focus on building the Origin Kingdom or The Empire of Origin, emphasizing the development of comprehensive real estate projects, including condominiums, low-rise housing, joint ventures with foreign partners, and income-generating properties, alongside a full range of real estate-related services to meet the needs of consumers in every segment.

“The year 2017 marked the beginning of our expansion into new businesses beyond condominium development. From 2018 onwards, we will fully drive new businesses. Each business will lay the foundation and be a crucial cog in the sustainable growth of the Origin Kingdom, addressing the needs of all consumer groups,” said Mr. Pirapong.

As the first step in building the Origin Kingdom, the company will focus more on developing luxury projects, planning to develop mixed-use projects combined with condominiums in 3 locations to create flagship projects under the concept of "Park Origin Complex," with a total value of over 70 billion baht in prime city locations such as Phrom Phong, Thonglor, and Phaya Thai. This aligns with global mega-trends in residential living, where consumers prioritize living in projects with complete amenities that cater to a comprehensive lifestyle. The company is currently studying and considering the details of each project.

Mr. Pirapong further stated that to achieve these goals, the company has structured itself clearly and appointed experienced executives from various fields to oversee and manage key areas crucial for the growth of a comprehensive real estate business. These include Mr. Pitipong Trainurak, Chief Business Development Officer, overseeing joint ventures; Ms. Suphalak Janpitak, Managing Director of low-rise projects, managing the low-rise housing business; and Ms. Jatuporn Phiwkhao, Managing Director of Origin One Company Limited, overseeing income-generating businesses such as hotels, serviced apartments, retail, office leasing, and related sales and rental services.

In 2018, the company plans to launch 14 new projects worth over 30 billion baht, consisting of 10 condominium projects valued at 26 billion baht and 4 low-rise housing projects valued at 4 billion baht, with a sales target of 20 billion baht, an increase of about 43% from 2017, and a revenue target of 15 billion baht, up approximately 67% from 2017.

Mr. Pitipong Trainurak, Chief Business Development Officer of Origin Property Public Company Limited, as the overseer of joint ventures, stated that joint ventures are a crucial cog in Origin's growth towards a comprehensive real estate kingdom, as they create opportunities to learn the concepts, know-how, and designs of partner companies to enhance business operations that meet the needs of all consumer groups while also increasing access to new customer bases for partners.

“In our joint venture with Nomura Real Estate Development Co., Ltd., Nomura has a customer base of around 400,000 and has extensive experience in the Japanese real estate business for over 60 years. This partnership allows us to leverage Nomura's 60 years of experience as we enter our 61st year,” Mr. Pitipong said.

Previously, the company had Nomura Real Estate Development as its main partner in joint ventures for 5 condominium projects and 1 hotel project. In the future, the company remains open to joint ventures in other business types, including low-rise projects, community malls, office leasing, and warehouse businesses, expecting that in the long term, joint venture income will account for about 20-30% of total revenue.

Ms. Suphalak Janpitak, Managing Director of low-rise projects at Origin Property Public Company Limited, stated that the low-rise project business will play a significant role in the Origin Kingdom. By 2018-2025, the company aims to launch new projects focusing on Bangkok and its suburbs, as well as the Eastern Economic Corridor (EEC), with a total value exceeding 45 billion baht, generating over 31 billion baht in revenue for the company during that 5-year period.

“We have planned from the beginning to use a strategy of exponential growth, or Multiply Growth. Therefore, our operations in every step over the past period have been aimed at doubling everything, from land acquisition, design development, to marketing efforts, ensuring that we can grow according to our targets,” Ms. Suphalak said.

The price range of houses will be divided into 3 segments: townhomes and home offices priced at 3-5 million baht, single and twin houses priced at 5-8 million baht, and single houses priced at 8-20 million baht, to cater to the needs of consumers at all levels, from economy to premium and prestige.

The selling points of the low-rise projects under the Britania brand within the Origin Kingdom will consist of 3 main factors: 1. Location, focusing on blue ocean areas with low competition but high potential to support the expansion of public transport systems in suburban areas; 2. Functionality, which will meet the real-life needs of consumers; and 3. Style, appealing to a younger demographic in terms of architecture and project environment.

At the end of 2017, the company launched a single and twin house project called Britania Srinakarin, which received a positive response from consumers, successfully closing sales of the first phase within 2 months. In 2018, they plan to launch 4 more projects worth over 4 billion baht.

Ms. Jatuporn Phiwkhao, Managing Director of Origin One Company Limited, stated that the income-generating business will help drive growth and ensure sustainable revenue for the comprehensive real estate kingdom of Origin, as it includes rental properties such as hotels, serviced apartments, office leasing, and community malls that generate continuous income while accommodating all economic conditions, alongside service businesses that fulfill consumer needs.

The company's future direction will focus on 3 aspects: 1. Great Location, targeting potential locations like Sukhumvit that cater to both leisure and business travelers, as well as EEC areas with growth potential; 2. Great Service, emphasizing standard service, where hotels will utilize foreign chains for management to provide international standard services combined with unique Thai hospitality; and 3. Mixed-Use, with future projects developing in a mixed-use format, aligning with the mega-trend of living and lifestyle for modern consumers.

“For the hotel and serviced apartment business, we aim to have a number of rooms within the top ten in Thailand within 5 years. In terms of service businesses, we aim to grow until we have our own service chain to serve consumers,” Ms. Jatuporn said.

Thank you for the information from www.origin.co.th