Origin Property Plc (ORI), one of Thailand’s mid-sized real-estate developers, came out to say that its pre-sale for the 9-months of this year was at 84% of its target while at the same time was looking to launch as many as 13 new projects during the remaining 2+ months of this year.
ORI, a company that has been focusing on launching condominium projects in the heart of the city, has come out to say that during the 9-months of 2022, the firm has managed to achieve 84% of its targeted revenues or about 29 billion Baht, while at the same time it was on target to achieve 35 billion Baht by the end of the year in sales.
Peerapong Jaroon-ek, CEO of ORI revealed that during the first 9-months of the year 2022 from January-September, 2022, ORI has accumulated sales from housing projects and condominiums of more than 29.39 billion Baht, which is an increase of 28% from the same period of the previous year, accounting for 84% of the full-year target of 35 billion Baht.
ORI said that a bulk of its revenues were from condominium and just about 30% was from horizontal housing projects.
Peerapong came out to say that the situation of the real-estate sector has continued to see improvement and it was time for the firm to start to look at launching new projects. He came out to say that as many as 15 new condominium projects are set to be launched later this year.
ORI, he said would look at launching new projects which are located next to the electric train line and near to the office places, educational institutions, communities with high purchasing power in Bangkok.
He added that the aim was to develop concepts to fully meet the lifestyles of Gen Y and Gen Z in the new era. Together with continuing to organize marketing activities for consumers in the ready-to-move-in condominium projects, such as the campaign to close the boiling deal.
And brands that received great feedback during the first nine months were Origin Plug & Play, a condominium brand targeting for first jobbers and Gen Z.
Another project – Brixton, a condominium brand that penetrates an affordable niche market, from the integration of selling points that appeal to consumers, such as the pet lover condo concept, duo space room with a ceiling height of 4.2 meters, resulting in many projects under these two brands that launched earlier this year have a take up rate of more than 80%.
ORI, he said was able to sell out the 2 new projects that were launched in 2022 within the first half of the year. So Origin Kaset project and Brixton Campus Bangsaen project.
Reflecting the strong success of these projects, that are catering to Gen Y and Gen Z people, therefore the firm was considering an extension of success as well as luxury brands such as Park Origin Thonglor.
Peerapong says that during Q4 of 2022, real estate business will return to a high season status that similar to the pre-Covid-19 period, the best in many years.
For the market overview, there will be many new projects launches during this period and has continued marketing because purchasing power has greatly recovered.
In a situation where every company has launched a lot of projects. Key Success Factor of the last curve of this year are the chosen to penetrate the appropriate segment, price, and location.
ORI has over the years developed various projects with its portfolio having as many as 112 condominium and housing projects ranging from the likes of Park Origin brand, So Origin, Origin Plug & Play, Knightsbridge, Notting Hill, Origin Place, The Origin, Kensington, Hampton, Origin Play, Brixton and Britania.
It has also a unit of recurring income business such as hotels, services, apartments and retail, while its service business such as real estate management business, buying agent business, selling, renting, real estate and real estate consulting business, all help in generating revenue for the firm.
Peerapong said that ORI continues to focus on the development an affordable housing projects in locations along the new mass transit lines and the high-demand EEC area. But there are not many competitors. At the same time, they are gradually opened projects in other segments in a location with high potential.
The company said that it was preparing to launch a total of 13 new projects in Q4 of 2022 with a total project value of 14.95 billion Baht, comprising 7 condominium projects worth 8.6 billion Baht and 6 housing projects worth 6.35 billion Baht.
Peerapong said that he believes that these projects will receive good feedback from consumers and generate good sales during the last curve. And make the company’s full-year sales surpassed 35 billion Baht, setting an all-time high record again, meeting the all year target that they have planned.