ORN announced its 9-month performance for 2024 (2568), delivering an all-time high with total revenue of THB 1,418.57 million, up 72.95% YoY, and net profit of THB 134.85 million, soaring 108.24%. In 3Q/2024 alone, revenue reached THB 616.94 million and net profit THB 71.16 million, reflecting strong momentum from Chiang Mai’s vibrant property market and robust transfers across both condominium and low-rise projects. Additional recurring income also came from its newly launched subsidiary business, Mill Hill International School Thailand, which began recognizing entrance fees and tuition revenue in September 2024.

Mr. Pratheekorn Buranupakorn, CEO of Ornsirin Holding PCL (ORN), stated that the company’s sharp growth was driven by transfers from high-rise projects totaling THB 472.49 million (Arise Charernmuang, The Next Jed Yod) and low-rise projects totaling THB 133.87 million (Belife Wongwaen–Sankampang; Habitat Wongwaen–Sankampang; Habitat Ruamchok; Habitat Super Highway, and others). The education segment further strengthened recurring income and the group’s overall business base.

Looking ahead to 4Q/2024, ORN expects the Chiang Mai real-estate market to continue benefiting from recovering tourism and rising private-sector investment. Demand for mid- to upper-segment homes remains strong, driven by Thai real-demand buyers and long-stay foreign buyers who recognize Chiang Mai’s growing potential.
Key momentum also comes from its flagship project ARISE Vibe Phuket, launched in March 2024 — ORN’s first development outside Chiang Mai. Valued at over THB 1,115 million, the project is progressing on schedule to capture demand from international buyers seeking homes for residential and holiday use. Completion and initial revenue recognition are expected by late 2026.

“Our mission is to continuously deliver high-quality developments under a Green Building strategy that differentiates ORN in today’s market. Alongside strong marketing programs, attractive promotions, and special mortgage campaigns with leading banks, we aim to make ORN homes more accessible. The company will also continue expanding complementary business lines to strengthen recurring income and build a fully integrated portfolio,” said Mr. Pratheekorn.