ORI Achieves 19 Billion Baht in Sales Over 9 Months

Aiming for 21.5 Billion Baht in Sales for 2020

"Origin" showcases pre-sales of 19 billion baht in the first 9 months, accounting for 88% of the annual target. After the third quarter of 2020, it set a new record in Thailand's real estate sector by selling out "The Origin Onnut" within just 1 hour, thanks to the strategy "Origin Next Normal, The 1st Wave," which involved 100% online sales. The company continues to generate sales from ready-to-move projects, with 9 new projects set to launch in the fourth quarter of 2020, supporting the goal of exceeding 21.5 billion baht in sales.

 

Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, stated that in the first 9 months of 2020 (January-September), the company achieved over 19 billion baht in pre-sales, which is approximately 88% of the annual sales target of 21.5 billion baht. The main reason for this success is the ability to generate sales from both newly launched and ready-to-move projects. In the third quarter of 2020 (July-September), the company achieved over 7.5 billion baht in sales, continuing to grow from the 6.578 billion baht in the second quarter of 2020.

 

In the third quarter of 2020, the company reported that sales from the housing development segment accounted for 19%, while condominium sales made up 81%. When categorized by project status, sales from ready-to-move projects accounted for 58%, and ongoing projects accounted for about 42%. A particularly successful new project that set a new record in Thailand's real estate sector is The Origin Onnut, where the company employed the strategy Origin Next Normal, The 1st Wave to sell the project entirely online under the name www.evenprop.com without a sales office, significantly reducing project development costs and providing a Reaching Solution for consumers with more affordable and accessible pricing, leading to a sold-out status within just 1 hour on the pre-sale day.

 

Mr. Pirapong further stated that in the fourth quarter of 2020, the company plans to gradually launch about 9 new projects with a total project value of 14.05 billion baht. This includes 1 condominium project under the KnightsBridge brand valued at 2.3 billion baht, 3 condominium projects under the The Origin brand with a total value of 5.55 billion baht, a new condominium project in the EEC area named Hampton Siracha valued at 1.4 billion baht, and housing projects under the Grand Britania brand with 2 projects valued at 2.7 billion baht, the Belgravia brand with 1 project valued at 1.6 billion baht, and the Brighton brand with 1 project valued at 500 million baht.

 

"In the past 9 months, we have observed that consumers still have a demand for housing, as evidenced by the strong sales in both ready-to-move projects and ongoing projects. The key is that the projects must be of high quality, and the right segments and locations must be chosen. All projects planned for launch in the fourth quarter have undergone thorough selection, analysis, and intensive work to meet consumer needs in the current situation. Therefore, we are confident in launching the projects as planned. With strategies and various plans, along with accumulated sales of 88% over 9 months, the company is even more confident that it will exceed the sales target of 21.5 billion baht this year," Mr. Pirapong stated.

At the same time, the company will continue to create Reaching Solutions for consumers alongside developing Living Solutions, with a new strategy to be announced building on the third quarter of 2020 under the name "Origin Next Normal, The 2nd Wave", with details expected to be revealed in early the fourth quarter of 2020.

 

For Origin Property Public Company Limited (ORI), it has a diverse business structure, including 1. Residential Development Business that has developed 76 projects such as the PARK ORIGIN, The Origin, KnightsBridge, Notting Hill, Kensington, and BRITANIA brands, with a total project value exceeding 116 billion baht. 2. Recurring Income Business such as hotels, serviced apartments, and retail. 3. Service Business such as property management, real estate brokerage, and consulting services, with a vision to continuously expand into new business areas to become a comprehensive real estate operator.