"Origin Property" has made a strong entry into the residential market in Q1/2022, achieving nearly 8 billion baht in sales for homes and condos, showing growth both YoY and QoQ. The newly launched projects have seen an average sales rate of 50% of available units, led by "Brixton Campus Bangsaen," a condo targeting students in the EEC, which sold out quickly. The company is confident in launching 8 more projects in Q2/2022, valued at over 13 billion baht, starting with the first phase of the mega project landmark of the year, "Origin Thonglor World," alongside a push into the Investment Property market. Tris Rating has upgraded the company's status to BBB+ with a stable outlook following consistent strong performance.

Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, revealed that in Q1/2022 (January-March 2022), the company achieved total sales of approximately 8 billion baht, continuing to grow compared to Q4/2021 (QoQ) and the same period last year (YoY). The sales breakdown includes about 70% from condominium projects and about 30% from housing projects.

Of the total sales, approximately 50% came from ready-to-move projects, while the remaining 50% came from newly launched projects and those under construction. In Q1/2022, the company launched 7 new projects with a total value exceeding 10 billion baht, significantly increasing the proportion of sales from new projects. Despite being launched only a few months ago, the new launches have maintained an average take-up rate of about 50% of the available units.

"Today, we see positive signs of recovery in the housing market. Coupled with our strong understanding of customer insights, we have received excellent responses from Gen Y to Gen Z customers, as evidenced by overall sales, particularly for the Brixton Campus Bangsaen condominium near Burapha University, which sold out in a short time. Similarly, the So Origin Kaset Interchange project, which caters to the Work From Home trend and is close to Kasetsart University, has also received a great response, achieving over 70% sales since its launch," said Mr. Pirapong.

Mr. Pirapong further stated that for Q2/2022, the company continues to see positive domestic factors from the return of normal economic activities among consumers, with many people having received at least 3 vaccine doses, leading to increased confidence in spending. Therefore, the company will proceed to launch an additional 8 residential projects valued at over 13 billion baht during this period, including 7 condominium projects worth over 11.5 billion baht and 1 housing project, Britania Amata-Panthong, valued at over 1.9 billion baht.

The highlight projects for Q2/2022 include the "Origin Prestige Thonglor" condominium and the "Origin Courtyard Thonglor" project, which are part of the first phase of the mega project landmark worth 15 billion baht, "Origin Thonglor World." Another highlight group includes investment property projects such as "Hampton Executive Sriracha," which responds to the successful investment trend in serviced apartments from previous projects. Additionally, there will be the "Origin Plug & Play" and "Brixton" condos targeting the Gen Y & Gen Z markets and startups continuously.

Recently, Tris Rating upgraded the credit rating of Origin Property Public Company Limited from BBB with a positive outlook to BBB+ with a stable outlook due to the company's consistent strong performance and its ability to continuously rise in the real estate business, capturing market share in both the condominium and housing sectors significantly over the past 5 years. The company offers a diverse range of products across various price levels, including those up to 50 million baht, with a debt-to-equity ratio of less than 1 and continues to grow revenue and sales even amid the COVID-19 situation in 2021.

Origin Property Public Company Limited (ORI) has a diverse business structure, including:

1. Residential Development Business - developing condominiums and housing projects, with 103 projects completed (as of the end of Q1/2022), such as the PARK ORIGIN brand, The Origin, Origin Plug & Play, KnightsBridge, Notting Hill, Kensington, Hampton, Brixton, and Britania, with a total project value exceeding 154.9 billion baht.

2. Recurring Income Business - including hotels, serviced apartments, and retail.

3. Service Business - including property management, real estate brokerage, consulting services, and a vision to continuously expand into new business types such as logistics, healthcare, asset management, energy, etc., to enhance the quality of life for consumers comprehensively.