Origin Property continues to be strong in the second half of the year, achieving new sales from foreign buyers in Phuket amounting to 1 billion baht even before the official sales launch. The company is preparing to launch new projects to reinforce its success in Phuket and will fully repay bonds due in the second half of 2024, totaling 3.875 billion baht across 5 bond issues, maintaining a 100% repayment history with interest over the past 8 years.

Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, stated that in the second half of 2024, the company will continue to focus on expanding opportunities into new markets, such as Phuket, where it has been gradually launching new projects since last year due to strong demand. Recently, the company has successfully garnered sales from two new condominium projects that have not yet officially launched: 1. So Origin Kata Phuket and 2. Origin Place Centre Phuket, targeting foreign buyers, with a total value exceeding 1 billion baht.

“The market currently showing strong demand consists of diverse customer groups in the same area, including markets for personal residence, investment, and foreign buyers, as well as more specific markets, such as pet-friendly condominiums. Focusing on markets with strong demand will play a crucial role in achieving our operational goals,” Mr. Pirapong said.

Mr. Pirapong further revealed that in the second half of 2024, despite the overall bond market situation not recovering, the company remains committed to managing liquidity. In the second half, the company will fully repay bonds with interest on all issues, which include 5 bond issues totaling approximately 3.875 billion baht. These include: 1. Bond issue 2/2564, series 2 (ORI247A), with a maturity of 3 years, due on July 16, 2024, amounting to 1.4317 billion baht; 2. Bond issue 1/2565, series 1 (ORI247B), with a maturity of 2.22 years, due on July 16, 2024, amounting to 535 million baht; 3. Bond issue 3/2566, series 1 (ORI248A), with a maturity of 1 year, due on August 30, 2024, amounting to 500 million baht; 4. Bond issue 3/2565, series 2 (ORI249A), with a maturity of 2 years, due on September 1, 2024, amounting to 807.8 million baht; and 5. Bond issue 1/2566, series 3 (ORI249B), with a maturity of 1 year and 6 months, due on September 22, 2024, amounting to 600 million baht.

“In the past, we issued bonds to fund continuous and sustainable business expansion according to our operational plans and business goals. We have gained the trust of both institutional and retail investors. We thank all investors for their trust and will continue to drive the business to grow according to our set goals,” Mr. Pirapong stated.

Since 2016, the company has raised funds through more than 30 bond issues, maintaining a strong repayment history. The company plans to issue and offer bonds considering the amount and maturity period as a priority. The gradual repayment aligns with project development plans and future revenue recognition, as the company emphasizes maintaining liquidity while driving business growth according to its plans and objectives for bond issuance.

Additionally, the company is exploring opportunities in other areas beyond Phuket, such as the Amata Industrial Estate in Chonburi, which has demand from both buyers looking to live and work in the area and long-term rental investors.

Regarding ownership transfers, the company has a backlog of sales awaiting ownership transfer valued at approximately 47.135 billion baht as of Q2 2024. In Q4 2024, the company will also have new condominium projects ready for first-time ownership transfers, including 3 projects: 1. So Origin Phahol 69; 2. Origin Plug & Play Sirindhorn Station; and 3. KnightsBridge Space Sukhumvit-Rama4, with a backlog in these 3 projects valued at over 6.35 billion baht, or over 85% of the project value. The company is confident that its performance will continue to meet its set goals.

Origin Property Public Company Limited (ORI) has a diverse business structure, including:
1. Residential Development Business, having developed 163 projects (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 exceeding 253.198 billion baht.
2. Recurring Income Business, including hotels, serviced apartments, and retail.
3. Service Business, including resident services, property management, real estate brokerage, and real estate consulting.
4. Long-term Mega Trends Business, focusing on new business groups with long-term growth potential, such as logistics, healthcare, energy, finance, and entertainment, to enhance the quality of life for consumers comprehensively.