Origin Property sets an All-Time High in sales of homes and condos for the year 2023, reaching over 47.265 billion baht, exceeding the annual target of 45 billion baht by 105%, and growing 15% from the previous year. This reinforces its status as a leader in the real estate business, particularly with the Pet Lover condo segment and projects in Thonburi and upcountry, catering to diverse consumer segments and driving sales to a Sold Out status.

Mr. Pirapong Jarunake, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, revealed that in 2023 (January-December), the company achieved presales from residential projects of approximately 47.265 billion baht, surpassing the annual target of 45 billion baht, which is 105% of the set goal and represents a growth of about 15% compared to the same period last year. This also marks the highest sales record since the company's inception (All Time High). The sales breakdown includes 34.704 billion baht from condominium projects, accounting for about 73%, and 12.561 billion baht from housing projects under Britania Public Company Limited, representing approximately 27%. In terms of project status, sales from ready-to-move projects account for about 53%, while sales from ongoing projects account for around 47%.

“Our continuous push into the condominium market for Pet Lovers, especially in new locations that are still Blue Ocean areas with no previous pet-friendly projects, has been a significant factor in driving our sales growth. This reflects the increasing demand among the younger generation in urban areas for pet ownership in condos. At the same time, we are able to drive the Origin Infinity plan, achieving sales from housing and condominium projects in new locations like Thonburi and key economic provinces across the country. Many projects in upcountry areas have received excellent responses, such as in Phuket and Khon Kaen,” said Mr. Pirapong.

For new projects launched in 2023 that received positive responses and were sold out shortly after opening include So Origin Siriraj, Origin Place Phetkasem, Origin Place Phahol 59 Station, and The Origin Centre Phuket. Each project stands out in terms of location potential, unique functions, and competitive pricing compared to others in the same area. Additionally, during the fourth quarter of 2023, which is the high season, the company launched 9 new projects worth over 11.040 billion baht, each receiving good responses to close the year, and is expected to help increase the backlog in the first quarter of 2024 continuously.

Mr. Pirapong further stated that the overall real estate business in 2024 will have several external factors to watch, such as the global economic outlook, the economic situation in China, policy interest rate hikes, and household debt levels. These issues may affect consumer purchasing power, leading to a gradual launch of new projects by all real estate developers this year compared to the previous 1-2 years.

In the past, Origin has adhered to four principles to navigate these challenges: 1. Good Locations: Choose locations with genuine demand, focusing on areas near public transport and key amenities. 2. Distinct Segments: Target segments with fewer competitors but strong purchasing power and growth potential, such as Pet Lovers and Investment Program groups. 3. Functional Relevance: Emphasize practical functions that cater to modern lifestyles. 4. Multi-Group Appeal: Projects must cater to various customer groups, such as Pet Lover condos that are not only for pet owners but also have separate buildings or floors for non-pet owners. Many projects need to develop as mixed products to meet the diverse purchasing power of customers, and several projects must address both owner-occupiers and long-term investors.

“Many challenges did not just arise this year but have continued from last year. We have proven that the group can quickly adapt strategies to help us overcome every challenge in 2023. In 2024, we will continue to adhere to these principles in project development while closely monitoring external factors to ensure we can adapt quickly and effectively to every situation,” said Mr. Pirapong.

Additionally, the public companies in the group, including Britania Public Company Limited and Primo Service Solution Public Company Limited, will gradually announce their business plans for 2024 in the first quarter of 2024, with Origin Property Public Company Limited expected to announce its business plan in March 2024.

For Origin Property Public Company Limited (ORI), it has a diverse business structure, including: 1. Residential Development Business: Developing condominiums and housing projects, totaling 158 projects (as of Q4 2023), such as Park Origin, So Origin, Origin Plug & Play, Knightsbridge, Notting Hill, Origin Place, The Origin, Kensington, Hampton, Origin Play, Brixton, and Britania, with a total project value of over 240.661 billion baht.

2. Recurring Income Business: Such as hotels, serviced apartments, and retail.

3. Service Business: Such as resident services, property management, real estate brokerage, and real estate consulting.

4. Long-Term Mega Trends Business: New business groups with long-term growth potential, such as logistics, healthcare, energy, finance, entertainment, etc., to enhance the quality of life for consumers comprehensively.