“ORIGIN” Turns Into 2nd Decade with 6 Sustainable Subsidiaries, Boost Tie-Ups Through “Open Platform” Model For Business Growth

เกริก บุณยโยธิน 04 March, 2020 at 16.11 pm

Turning into its second decade, “ORIGIN” diversified its business into six groups of subsidiary for running six businesses. It discloses an “Open for Growth, Open Platform” strategy to find partners to co-create new innovations in every of its businesses and build a real estate ecosystem. Besides, it is launching “Belgravia”, the latest luxury property brand and expanding its development business in economic provinces. Within 5 years, it expects all its subsidiaries will stand at the forefront of each business. It targets to achieve 21,500 baht in sales and 16,000 baht in total revenue this year.

Mr. Peerapong Jaroon-ek, Chief Executive Officer of Origin Property PLC (ORI), a fully integrated property developer, revealed that in the occasion that the company has stepped into the second decade, it has set a long-term vision to transform itself into the large group with a sustainable growth and readiness to cope with the global changes. 2020 will be the beginning of its “Decade of Transformation”, diversifying its business into six businesses with 6 groups of subsidiary, which are 1.Origin Condominium Co., Ltd. Led by Mr.Kreingkrai Kreebongkan, it develops smart condominiums under “The Origin” brand. 2.Park Luxury Co., Ltd. Led by Mr.Siripong Srisawangwong, it develops luxury condominiums under “KnightsBridge” and “PARK ORIGIN” brands. 3.Britania Co., Ltd. Led by Mrs.Supalak Chanpitak, it develops housing projects under “Britania” brand. 4.Origin EEC Co., Ltd. Led by Mr. Aruch Changthong, it oversees the property development in the Eastern Economic Corridor (EEC). 5.One Origin Co., Ltd. Led by Mr.Pitipong Trinurak, it runs the recurring income business including hotels, retail space, office rental and mixed-use projects 6. Primo Service Solution Co., Ltd., it offers all real estate-related services.

“The organizational transformation will create a diversity for the company’s portfolios and minimize the risk in running businesses.  At the same time, all our subsidiaries will have more flexibility to manage and fewer procedures for operation, allowing them to grow faster in all dimensions. They will also adjust themselves and handle with external factors better. This transformation marks a significant step for achieving our sustainable growth,” said Mr. Peerapong.

 

In addition to the organizational transformation, Mr. Peerapong said it also has one more strategy, called “Open for Growth, Open Platform”, for creating the growth. This strategy is to offer other companies the partnership opportunities to help each other fulfil knowhow technology and boost the competitiveness in creating innovations for residential, commercial and property-related services. It aims to build the networks and the strengths among the businesses until it shapes up the real estate ecosystem.

“Businesses worldwide have given the importance to create synergy among the same business or across industries. The expected result from the synergy is to achieve a leap growth and to jump over the current limit. Origin, today, decides to move forward in line with the global trend. We open for any growth opportunities from potential partners to plug in with our “Open Platform” in every business under our umbrella. This model will make us scale up firmly and give us an infinite growth,” said Mr. Peerapong.

 

The partners that it looks for are, for example, JV Partner, Land Owner, Service & Property Related Tech, Property Related Suppliers, etc. Currently, it is discussing joint venture deals with new partners from various countries. It expects it can announce the deals soon. For those who are keen to partnering with Origin Group, please write to investment@origin.co.th or see more details at www.origin.co.th/open-platform.

 

In the first five years of Origin’s second decade, it will make all of its subsidiaries to become the leader in each business. Mr. Peerapong added that it has many new business plans, for example, the development of luxury housing brand “Belgravia” in 2020 to target those who wants luxury houses in the price range of 10-35 million baht, the development of new projects in main economic provinces including Nakhon Pathom, Samut Songkhram, Samut Sakhon, Chachoengsao, Chonburi, Rayong. After all of its subsidiaries are at the forefront, it will consider further investment in other new businesses beyond the property.

 

For its business plan in 2020, the company pays attention to reform its internal structure, build a foundation for every business to grow sustainably, and adjust the plan in line with the external factors. It also plans to launch 14 new projects, worth 20 billion baht. They comprise 2 projects of smart condominiums under “The Origin” brand totaling 4.2 billion baht, 1 project of luxury condominiums worth 2.3 billion baht, 10 housing projects worth 12.1 billion baht under Britania and other 3 new brands including Grand Britania, Brighton, and Belgravia, and 1 project of EEC worth 1.4 billion baht under “The Hampton” brand in Sriracha.

 

The company forecast it can generate total sales of 21.5 billion baht and total revenue of 16 billion baht from the residential development business, services business and recurring income business which will be recognized the revenue for the first year.

 

Origin Property PCL has several businesses, which are 1. Residential Development Business. It has developed more than 71 housing and condominium projects, worth over 110 billion baht, under different brands including PARK ORIGIN, The Origin, KnightsBridge, Notting Hill, Kensington and BRITANIA. 2. Recurring Income Business. It develops and manages hotels, serviced apartments and retail spaces. 3. Service Business. It offers property management, property agent and consultancy services and has a vision to expand into other business to become a fully-integrated property developer.

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