Origin Property, or ORI, has filed a registration statement to prepare for the sale of a new bond series consisting of 3 types, expected to be available for purchase between February 10-11 and February 13, 2025. The company has a credit rating of 'BBB+/Stable' from Tris Rating. Over the past 9 months, the residential sales have reached a robust 26.849 billion, exceeding 77% of the annual target, with a strong backlog of 47.329 billion in Bangkok, surrounding areas, EEC, and Phuket. The company anticipates recognizing revenue in the fourth quarter from 3 newly completed joint venture projects valued at over 7.430 billion. It has also secured a position in the SET ESG Ratings for sustainable stocks for the year 2024 at the 'AAA' level, along with a continuous 5-star CGR assessment for 5 consecutive years, demonstrating its commitment to steady and sustainable business growth.

Mr. Pirapong Jaroonaek, Chief Executive Officer of Origin Property Public Company Limited (ORI), a comprehensive real estate development company, stated that the company has submitted a prospectus for the bond offering and a draft of the offering document to the Securities and Exchange Commission to prepare for the first bond issuance of 2025. This bond is a named bond, non-subordinated, unsecured, and has a bondholder representative for general and institutional investors (Public Offering). The bonds being issued consist of 3 series: Series 1 with a term of 2 years, 1 month, and 8 days at a fixed interest rate of 4.40-4.50% per annum; Series 2 with a term of 3 years at a fixed interest rate of 4.85% per annum; and Series 3 with a term of 4 years at a fixed interest rate of 5.15% per annum. On April 23, 2024, Tris Rating assigned the company's credit rating at 'BBB+' with a 'stable' outlook, and the bonds are expected to be offered on February 10-11 and 13, 2025.

In the first 9 months of 2024 (January-September 2024), the company reported residential project sales, including those under Britannia Public Company Limited (BRI) and Origin Vertical Corporation (ORIGIN VERTICAL), totaling over 26.849 billion baht, representing about 77% of the annual target.

At the same time, the company has consistently transferred ownership from both joint venture (JV) projects and non-JV projects, with a cumulative transfer value of 10.502 billion baht over 9 months. Coupled with revenue from non-residential businesses, such as 11 hotel brands and over 270,414 square meters of operational warehouses, the total net profit for the group during this period reached 1.318 billion baht.

“We still have a backlog of sales awaiting revenue recognition, or backlog, at the end of the third quarter of 2024, amounting to 47.329 billion baht. This is due to our diversified development of residential projects in Bangkok, surrounding areas, the Eastern Economic Corridor (EEC), and potential tourist cities like Phuket, which helps us steadily recognize revenue until around 2028,” said Mr. Pirapong.

In the fourth quarter of 2024, the company will have 3 newly completed joint venture projects valued at over 7.430 billion baht, with over 80% of the backlog from these projects already secured, including 1. Origin Plug & Play Sirindhorn Station, the company's first condominium targeting Gen Y-Gen Z in Thonburi, near MRT Sirindhorn; 2. So Origin Phahol 69 Station, a condominium close to the green line BTS, just 50 meters away and near Don Mueang Airport; and 3. Knightsbridge Space Sukhumvit-Rama 4, a condominium near BTS Phra Khanong.

Mr. Pirapong further stated that the diversification of the company's business portfolio into non-residential real estate sectors, such as hotels, warehouses, and comprehensive real estate services, is a continuous focus for the company to create sustainable growth opportunities. The trends in these business sectors contribute to balancing and generating income for the portfolio. In October-November 2024, the average occupancy rate of the hotels in the group reached 75%, while the warehouse business achieved an average rental rate of 90%.

Due to its consistent and stable performance, along with its commitment to social responsibility and surrounding communities, the company has been selected by the Stock Exchange of Thailand (SET) to be ranked among the sustainable stocks in the SET ESG Ratings for 2024 for 4 consecutive years. It has also been upgraded from AA in 2023 to 'AAA', reflecting the company's commitment to sustainability and the importance of stakeholder engagement, as well as its dedication to maintaining high standards in sustainability performance and corporate governance. Additionally, Origin Property has received a 5-star rating in the Corporate Governance Report of Thai Listed Companies (CGR) for 2024 from the Thai Institute of Directors (IOD), supported by the Stock Exchange of Thailand, for 5 consecutive years.

Origin Property Public Company Limited (ORI) has a diverse business structure, including 1. Residential Development Business that has developed 163 projects (as of the end of Q3 2024), such as Park Origin, So Origin, Origin Plug & Play, Knightsbridge, Notting Hill, Origin Place, The Origin, Kensington, Hampton, Origin Play, Brixton, and Britannia, with a total project value of over 253.516 billion baht; 2. Recurring Income Business such as hotels, serviced apartments, and retail; 3. Service Business including homeowner services, property management, real estate brokerage, and real estate consulting; and 4. Long-term Mega Trends Business focusing on new growth areas such as logistics, healthcare, energy, finance, and entertainment, aimed at enhancing the quality of life for consumers comprehensively.