Origin Property is moving towards the NEXT LEVEL with its Business Expansion strategy to strengthen recurring income. The company has partnered with another major Japanese player, Tokyu Land Asia, to jointly develop a mixed-use office-retail-hotel project called One Phayathai, valued at 3.6 billion baht REIT. This project will feature Thailand's first IHG Dual Branded Hotel, combining two global hotel brands, Hotel Indigo and Holiday Inn Express, from the IHG group, located in a prime area connecting two international airports. The company aims to expand its base to meet the needs of both Thai and foreign customers, confident that the COVID-19 situation will improve before the project opens in late 2023.

Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, stated that under the business vision of ORIGIN NEXT LEVEL, the company continues its Business Expansion strategy by forming a new collaboration in the recurring income sector through One Origin Company Limited in a joint venture with Tokyu Land Asia Co., Ltd., a subsidiary of Tokyu Land Corporation, one of Japan's leading real estate developers, with an investment ratio of 51:49 to develop the One Phayathai mixed-use project valued at over 3.6 billion baht REIT.


Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited

Tokyu Land Asia is a major partner with strong financial backing, know-how, and extensive experience in developing various types of real estate in Japan and Southeast Asia. Their vision aligns with ours in developing comprehensive real estate to create the best living ecosystem for consumers. This collaboration will facilitate knowledge exchange in sustainable development and environmentally friendly design, marking a significant step for both companies in enhancing the quality of life to a Next Level for consumers,” said Mr. Pirapong.

Furthermore, Tokyu Land Asia Co., Ltd. is a real estate development and investment company in Southeast Asia under Tokyu Land Corporation, which has accumulated 67 years of experience in the industry. The company operates under Tokyu Fudosan Holdings Corporation, a major entity listed on the Japanese stock market and included in the Nikkei 225 index, with assets valued at approximately 2.652 trillion yen or about 790 billion baht as of the latest financial year-end (March 31, 2021). Their decision to partner with Origin Property reflects the confidence of this major foreign company in both Origin and investment in Thailand.


Mr. Masaoki Kanematsu, Managing Director of Tokyu Land Asia Co., Ltd.

According to Mr. Masaoki Kanematsu, Managing Director of Tokyu Land Asia Co., Ltd., this joint venture for the One Phayathai project marks the company's first investment in Thailand after a long search for a suitable and reputable partner in the country. He expressed great pleasure in collaborating with a reliable real estate development partner like Origin Property. The company hopes this joint venture will foster knowledge exchange and serve as a foundation for exploring opportunities for collaboration in other business areas, such as logistics, renewable energy, and other sectors that can drive future growth in the rapidly developing Thai market.

The One Phayathai project is a 31-story mixed-use building on a 1-3-0 rai plot, located in the city center adjacent to the luxury condominium project Park Origin Phayathai. Developed under the concept of 'ONE STEP JOURNEY', it serves as a lifestyle hub that meets all living needs within the project, just one step away from the residential condominium. Additionally, it will be the first project in Thailand to feature two global hotel brands within the same building. The first brand is Hotel Indigo, a boutique hotel with 210 rooms, and the second is the well-known and trusted Holiday Inn Express, which has 202 rooms, both under the IHG Hotels & Resorts umbrella. This project aims to provide a unique hotel experience for both leisure and business travelers in the city center.

Additionally, the building will include commercial space for shops and office buildings totaling 2,200 square meters, with complete facilities, offering a total usable area of over 26,880 square meters. It is located just 200 meters from two BTS lines, the green line and the Airport Rail Link at Phayathai Station, providing access to Suvarnabhumi International Airport and Don Mueang International Airport. Construction is planned to begin in Q3/2021, with completion expected by late 2023, anticipating an improvement in the COVID-19 situation.

The One Phayathai project has been designed with consideration for the environment and the surrounding community, featuring appropriately designed green spaces at the front of the project and a vertical green façade to reduce external heat entering the building. The design also includes sufficient openings to allow natural light into the building, helping to reduce unnecessary heat and save energy. The project considers pollution reduction in its parking area by designing an automated parking system above ground, and it utilizes energy-efficient and environmentally friendly construction materials with low reflectivity to be community-friendly.

Origin Property Public Company Limited (ORI) has a diverse business structure, including:
1. Residential Development Business: Developing condominiums and housing projects, with 86 projects completed (as of Q2/2021), such as the Park Origin brand, The Origin, KnightsBridge, Notting Hill, Kensington, and BRITANIA, with a total project value of over 134 billion baht.
2. Recurring Income Business: Under One Origin Company Limited, including hotels, serviced apartments, and office buildings.
3. Service Business: Including property management, real estate buying, selling, and leasing, and real estate consulting, with a vision to continuously expand into new business types to become a comprehensive real estate operator.