Origin Property has announced its financial results for 2024, achieving total revenue of over 11.985 billion baht and a profit of 1.052 billion baht. The company aims for home and condominium sales of 35.442 billion baht, while showcasing a backlog of over 44.562 billion baht, ensuring continuous revenue for the next four years. In 2025, the company plans to transfer ownership for 16 projects valued at 23.440 billion baht, with a backlog in condominiums already exceeding 15 billion baht, accounting for 73%.

Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, stated that the overall performance for 2024 includes revenue from the transfer of ownership for residential projects (including joint ventures) totaling over 14.399 billion baht, with total revenue of 11.985 billion baht and a net profit of 1.052 billion baht. The total sales (presales) for 2024 reached the target of 35.442 billion baht, with condominium sales under ORIGIN VERTICAL amounting to 28.891 billion baht, representing 82%, and sales from single-family homes under BRITANIA at 6.551 billion baht, accounting for 18%.

Of the total sales of 35.442 billion baht achieved last year, approximately 19.768 billion baht came from projects developed by the company (Non-JV), while about 15.674 billion baht came from joint venture projects (JV) with partners. Sales were derived from completed projects ready for occupancy (Ready to move) totaling around 19.635 billion baht, including condominiums, single-family homes, and duplexes located throughout Bangkok and major provinces. Additionally, sales from new projects launched and ongoing projects amounted to approximately 15.787 billion baht. In 2024, 12 new projects were launched, totaling 5,455 units with a total value of 19.500 billion baht, comprising 4,944 condominium units valued at 14.500 billion baht and 511 housing units valued at 5.000 billion baht.

Furthermore, Mr. Pirapong mentioned that due to various factors and environmental conditions putting pressure on the overall economy, the company had to adjust its plans and strategies throughout the past year to align with the situation. All business groups within the Origin group are ready to implement and execute new business strategies as planned to enhance business opportunities, including product development in new projects.

These new projects aim to build customer confidence in the brand and meet the lifestyle and living needs of the Gen Y – Gen Z market while also planning to continuously penetrate both domestic and international markets.

In 2024, Origin focused on adjusting its sales strategy for foreign markets, achieving foreign sales of over 5.700 billion baht, a growth of 225%, setting a record high since the company's inception. Russia and Taiwan emerged as key markets, with plans for ongoing roadshows to open new markets.

In the first quarter of 2025, the condominium business group under Origin, ORIGIN VERTICAL, will reinforce its success in the international market, targeting both B2B and B2C customers who buy for residence, investment, and retirees looking to relocate to Thailand. The focus will be on five countries in the Asian region: China, Hong Kong, Singapore, Taiwan, and Myanmar, with the appointment of Knightsbridge Partners Co., Ltd. as the master agent to offer 150 units valued at 1.486 billion baht in the Origin Residence Sukhumvit project (located in Sukhumvit Soi 48), a modern condominium designed to accommodate urban lifestyles. The company successfully launched the SO ORIGIN SUKHUMVIT 105 project, achieving total sales of 1.500 billion baht within the first two days of the VVIP launch.

“We are ready to collaborate with partners experienced in international markets and plan to conduct roadshows and activities throughout 2025 to bring Thai real estate into the global market, expanding into new markets while maintaining our existing customer base that is familiar with and trusts the Origin brand,” said Mr. Pirapong.

As of the end of 2024, the backlog of sales awaiting ownership transfer from both condominium and housing projects amounts to 44.562 billion baht, ensuring revenue recognition over the next four years. In 2025, there will be 16 completed projects ready for ownership transfer, totaling 23.440 billion baht, including 13 condominium projects valued at 20.340 billion baht and three housing projects valued at 3.100 billion baht. Five projects, valued at 9.770 billion baht, will be transferred in the first quarter of 2025, comprising four condominium projects valued at 8.370 billion baht, with over 80% of the backlog in condominiums already secured.

With continuous and stable performance, along with a commitment to the surrounding community, the company has been selected by the Stock Exchange of Thailand (SET) as one of the sustainable stocks in the SET ESG Ratings for four consecutive years, receiving a rating of “AAA,” reflecting the company’s commitment to sustainability. Additionally, the company received a five-star rating, or “Excellent CG Scoring,” in the Corporate Governance Report of Thai Listed Companies (CGR) for 2024 from the Thai Institute of Directors Association (IOD), supported by the Stock Exchange of Thailand, for five consecutive years.