Origin Property to launch 15 residential projects, open two hotels this year

Real Estate January 28, 2019 17:56

By The Nation

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Listed developer Origin Property plans to launch 15 residential projects worth Bt26 billion combined this year under the Park Origin, The Origin and Britania brands, as well as opening two hotels towards the year’s end, chief executive officer Peerapong Jaroon-ek said on Monday.



 

 

 

Park Origin is the developer’s brand for condominiums priced between Bt4 million and Bt6 million per unit, The Origin is the brand for condos costing from Bt1.6 million to Bt2.4 million, and Britania is for low-rise homes – town homes, twin houses and detached housing – at Bt2.5 million-Bt6 million per unit.

This year’s project launches, combined with Origin Property existing projects under development, are expected to boost full-year presales to Bt28 billion, up 1.8 per cent from the Bt27.5 billion achieved last year, which itself was 14.58 per cent above the 2018 estimate of Bt24 billion, the CEO said.

This would also boost total revenue to Bt19 billion for the year, which would be higher than last year’s total, he said.

In the first nine months of last year, the company recorded revenue of Bt10.69 billion and net profit of Bt2.39 billion, Peerapong said, adding that the early estimate for full-year 2018 revenue was Bt16 billion.