Origin Property showcases a robust backlog of 47.135 billion baht after the first half of the year, with sales of houses and condominiums exceeding 18.331 billion baht and total revenue recognized at over 6.651 billion baht. In Q3/2024, the company is set to transfer ownership of new condominiums in the Green Line BTS area, including projects like So Origin Kaset Interchange, KnightsBridge Space Sukhumvit-Rama 4, and Origin Play Phahol 50 Station, which collectively have a backlog of approximately 90% of the project value, or over 4.2 billion baht. This brings the total backlog ready for transfer to 9.6 billion baht. In the second half of the year, the company will focus on launching new projects in high-demand locations while expanding its portfolio to cater to self-investing customers, long-term investors, and international markets.

Mr. Pirapong Jarunek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, revealed that as of the end of Q2/2024 (June 30, 2024), the company has a backlog of 47.135 billion baht from both housing and condominium projects. In the first half of 2024, total sales from housing and condominium projects reached over 18.331 billion baht.

This backlog will be gradually transferred from the second half of this year until 2027, starting with three new condominium projects in the Green Line BTS area, including:

1. So Origin Kaset Interchange - a project near the BTS Kasetsart University station.
2. KnightsBridge Space Sukhumvit-Rama 4 - a project close to BTS Phra Khanong.
3. Origin Play Phahol 50 Station - a project near BTS Phaholyothin 50 station. These three projects have a combined backlog ready for transfer of approximately 4.2 billion baht, accounting for nearly 90% of the project value. Additionally, there are large projects that will continue to transfer from Q2/2024, including Origin Plug & Play Nonthaburi Station and Origin Play Sri Udom Station, with a backlog value of around 2.4 billion baht.

“This year’s economy is challenging, but with the backlog we have planned to launch and the continuous increase in sales, we still have a steady stream of revenue coming in. We remain committed to adapting continuously to align with external factors,” Mr. Pirapong stated.

Mr. Pirapong also mentioned that in Q4/2024, the company plans to launch additional condominium projects worth approximately 11 billion baht, following the launch of around 8.98 billion baht in the first half of the year. The locations for these projects will be more flexible to align with actual market demand, with customer feedback tested before official sales, focusing on projects with clear strengths and strong responses, which may be adjusted as necessary. The company has land ready for development and adheres to a joint venture approach to drive investments quickly and enhance partnerships with local experts.

For ready-to-move-in projects, the company is preparing marketing campaigns to encourage customers to make purchasing decisions more easily, while also assisting customers facing loan application issues, such as consolidating debts through banks with supportive policies, providing advice on joint loan applications to enhance repayment capabilities, and offering financial planning guidance. The company also presents other projects in nearby locations that customers can afford as alternatives, while expanding the sales model to reach a more diverse customer base, including those buying for personal use, long-term investors, international customers, and corporate clients interested in purchasing condominiums for employees.

Recently, the company has continued to receive positive responses from consumers for new projects, such as Origin Place Taopoon Interchange, the first pet-friendly condominium project in the Taopoon area, valued at over 2.3 billion baht, which has already achieved 60% of accumulated sales within just 3 months of its launch. Similarly, projects in Phuket have seen accumulated sales of 2 billion baht, or over 80%, in the first seven months of the year, with plans to launch the new project So Origin Kata Phuket, a condominium project in Phuket near Kata Beach, valued at over 1.65 billion baht, expected to open for sales in Q4/2024.

Origin Property Public Company Limited (ORI) has a diverse business structure, including:
1. Residential Development Business - developing condominiums and housing projects, with 163 projects completed (as of Q2/2024), 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 253.198 billion baht.
2. Recurring Income Business - including hotels, serviced apartments, and retail.
3. Service Business - including services for residents, property management, real estate agency, and consulting services.
4. Long-term Mega Trends Business - new business groups with long-term growth potential, such as logistics, healthcare, energy, finance, entertainment, etc., aimed at enhancing the quality of life for consumers comprehensively.