"ORI" Achieves Impressive Q1 Sales of Over 4.5 Billion, Prepares New Measures to Tackle a Year of Challenges

Mr. Pirapong Jarunek CEO of Origin Property Public Company Limited (ORI) , a comprehensive real estate developer, revealed that the business and industry situation this year is challenging due to uncontrollable external factors like COVID-19<\/span>. However, the company's sales in the first quarter of 2020<\/span> are considered excellent under such circumstances, with the latest sales as of 24<\/span>.<\/span>3.2020 at around 4.5 billion baht<\/span>, accounting for 21%<\/span> of the annual sales target for 2020.

The sales figures are divided into sales from the condominium business including projects launched in 2019 and ready-to-move projects totaling over 3 billion baht and from the housing development business of over 1.5 billion baht, mainly driven by the positive response to the launch of two new projects: Britania Sai Mai and Grand Britania Ring Road-Ram Inthra.

“<\/span>We have been implementing a continuous business operation plan, or Business Continuity Plan, since the beginning of the year, working hard to ensure that consumers remain confident, trustful, understand, and can safely access our projects without health impacts, through strict COVID-19 management measures at sales offices and communication with customers via various online channels, which has resulted in positive consumer feedback,”<\/span> <\/span>Mr. Pirapong stated.

Mr. Pirapong further mentioned that 2020 is a year of challenges, especially due to COVID-19, with the situation continuously changing and new measures being introduced by the government. The company places great importance on this matter, holding regular executive meetings to implement new measures promptly. During this time, the company recognizes that all sectors need to have empathy for one another to navigate through these difficult times, thus considering new measures for three groups: 1.<\/span> Measures for consumers for those considering purchasing Origin projects and current residents; 2.<\/span> Measures for employees, with measures already in place, such as allowing some employees who do not need to work directly with customers to Work From Home since Monday, March 23; 3.<\/span> Business measures to enhance business management efficiency, moving forward to collaborate with new partners in an Open Platform format to create added value for consumers, while also considering adjustments to plans to ensure the business can continue to operate under all circumstances, with new measures expected to be continuously introduced in all three areas starting in May.

For 2020, the company plans to launch a total of 14 projects worth over 20 billion baht, having already launched 2 projects in the first quarter: Britania Sai Mai valued at 1.4 billion baht and Grand Britania Ring Road-Ram Inthra valued at 1.9 billion baht.

“<\/span>Typically, the high season for the real estate business is in the third and fourth quarters, so we are confident that with the excellent sales achieved in the first quarter, combined with sales in the third and fourth quarters, where the situation is expected to improve, we will still be able to achieve sales of 21.5 billion baht as targeted.”<\/span> Mr. Pirapong stated.

Origin Property Public Company Limited has a diverse business structure, including 1.<\/span> Residential Development Business (Residential Development Business) which has developed 73 projects such as PARK ORIGIN, The Origin, KnightsBridge, Notting Hill, Kensington, and BRITANIA with a total project value of over 114 billion baht. 2.<\/span> Recurring Income Business (Recurring Income Business) such as hotels, serviced apartments, and retail; 3.<\/span> Service Business (Service Business) such as property management, real estate agency, real estate consulting, and a vision to continuously expand into new business types to become a comprehensive real estate operator.