Origin Property or ORI plans to launch 7 new housing and condominium projects worth over 11.18 billion, focusing on the Pet Family Condo market, economic city condos, single houses, and twin houses. The company aims to become a leader in developing pet-friendly condos, with 5 new projects expected to transfer ownership in Q2/2024. Three of the condominium projects already have a backlog of over 80%. The strong backlog at the end of Q1/2024 stands at over 46.517 billion, with products priced below 7 million accounting for over 80% of the total inventory. Government measures are expected to boost ownership transfers.

Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited or ORI, a comprehensive real estate developer, stated that in Q2/2024 (April-June 2024), the company plans to launch 7 new condominium and housing projects worth over 11.18 billion baht.

For the condominium segment under Origin Vertical Corporation Limited or ORIGIN VERTICAL, there are 5 projects, including 3 pet-friendly condominium projects under the Origin Pet Family concept:
1. Origin Place Taopoon Interchange worth 2.3 billion baht
2. Origin Place Chaengwattana worth 2.03 billion baht
3. The Origin Setthabut Station worth 1.4 billion baht

Additionally, there are 2 condominium projects in tourist cities and economic hubs:
1. Origin Place Centre Phuket worth 1.45 billion baht
2. The Origin Sriracha worth 750 million baht

“The trend among new-generation buyers is increasingly focused on pet-friendly living spaces. The overall market in provincial cities is still responding well, so we choose to launch condominiums with different segments in locations with diverse customer bases and strong purchasing power, such as Taopoon and Chaengwattana, being the first to develop pet-friendly condos in these areas. Meanwhile, Phuket and Sriracha are two locations with continuous demand from both end-users and long-term investors, as well as demand from the international market. The projects launched last year in Phuket, including two provincial projects launched this year, such as So Origin Bang Tao Beach and Dusit Suite Residences Khao Yai, have an average sales rate of over 74% for the units already available for sale,” Mr. Pirapong said.

For the housing segment under Britania Public Company Limited or BRI, the focus is on launching mixed product projects that combine single houses and twin houses in one project, targeting the western side of Bangkok, which has received good responses since last year, with 2 projects:
1. Britania Westgate worth 2.6 billion baht
2. Britania Ratchaphruek 345 worth 650 million baht

Mr. Pirapong also mentioned that in Q1/2024 (January-March 2024), the company reported revenue of 3.213 billion baht and a net profit of 464 million baht, with a backlog of sales awaiting revenue recognition at the end of the quarter exceeding 46.571 billion baht. In Q2/2024, there are 5 new completed construction projects that will gradually transfer ownership for the first time, including:
1. SO Origin Kaset Interchange
2. Origin Plug & Play Nonthaburi Station
3. Origin Play Sriudom Station
4. Britania Ratchaphruek 345
5. Britania Westgate
Three of these condominium projects already have a backlog of over 80%.

Furthermore, the government's measures to stimulate the real estate sector announced since April, including reducing the property transfer registration fee from 2% to 0.01% and reducing the mortgage registration fee from 1% to 0.01% for sales prices and assessed values not exceeding 7 million baht, and mortgage amounts not exceeding 7 million baht, are expected to significantly encourage consumers to decide to buy and transfer ownership of residential projects more easily. Currently, the company has inventory for sale (both under construction and ready-to-move-in projects) at price levels not exceeding 7 million baht, accounting for about 80% of the total inventory.

“The overall economy still has many factors to monitor, but we see various signs gradually improving, including the government's measures to stimulate real estate and the trend of slowing interest rate hikes. We will continue to develop homes and condos with innovations and functions that meet the needs of the new generation, as well as introduce new marketing activities that align more with consumer lifestyles,” Mr. Pirapong stated.

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For Origin Property Public Company Limited or ORI, the business structure is diverse, including:
1. Residential Development Business has developed 158 projects (as of the end of Q1/2024), 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 247.795 billion baht.
2. Recurring Income Business, such as hotels, serviced apartments, and retail.
3. Service Business, such as homeowner services, property management, real estate buying, selling, and leasing agency, and real estate consulting.
4. Long-term Mega Trends Business, a new business group with growth potential in the long term, such as logistics, healthcare, energy, finance, entertainment, etc., to enhance the quality of life for consumers comprehensively.