In the first half of 2024, Origin Property Public Company Limited (ORI) demonstrated robust performance with sales reaching 18.331 billion Thai Baht. CEO Mr. Pirapong Charoenek disclosed that these sales primarily came from subsidiary housing and condominium projects. Specifically, sales from Britannia Public Company Limited's housing projects amounted to approximately 3.807 billion Thai Baht, constituting 21% of total sales, while condominium project sales reached about 14.524 billion Thai Baht, comprising 79%.
Segmenting by project status, sales from ready-to-move projects accounted for approximately 49%, with new launches and projects under construction making up the remaining 51%. Highlight projects in the first half included the pet-friendly apartment group led by Origin Place Chaengwattana and Origin Place Taopoon Interchange, both launched in the second quarter of 2024 and receiving positive feedback.
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Additionally, the tourism city project launched in the first quarter of this year, SO Origin Bang Tao Beach condominiums, garnered excellent response with cumulative sales exceeding 80%. Despite a slower real estate market compared to last year, government stimulus policies such as reduced transfer fees and mortgage subsidies are expected to improve market conditions in the second half of the year.
Mr. Pirapong emphasized that in the latter half of the year, the company's sales strategy will focus on three main areas:
1. Inventory Management: Plans include organizing new promotional campaigns, including marketing activities and promotions with financial partners, to facilitate easier access for customers to purchase residential projects.
2. Project Locations: Opening new projects in locations with demand for homebuyers, long-term investors, and international markets to ensure immediate sales. For instance, launching new projects in rural areas where there are still many cash buyers.
3. Engaging New Customers: Continuously developing platforms to enable customers to access the company's project transactions anytime, anywhere, enhancing user experience and sales conversion rates.
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Mr. Pirapong stressed that despite challenging market conditions this year, Origin will continue to innovate and adapt to market changes through these strategies, providing consumers with high-quality housing products and achieving sustainable business operations.
Specifically, the company plans to implement the following measures to achieve its strategic goals:
- Firstly, focusing on inventory management, Origin will launch a series of attractive marketing promotions in collaboration with banks and financial institutions to provide more favorable loan terms and housing subsidies, thereby lowering the threshold for home purchases and attracting more potential buyers. These promotions not only increase inventory turnover but also enhance market recognition of the Origin brand.
- Secondly, in terms of project locations, Origin will conduct market research to understand housing demand and market dynamics in various regions, selecting the most promising locations for development. Particularly targeting unsaturated areas with potential housing demand, the company aims to attract target customer groups through differentiated positioning and precise marketing. Origin will also focus on the international buyer market by introducing high-end property projects suitable for foreign investors.
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- Lastly, to increase engagement with new customers, Origin will intensify efforts in digital platform development, enhancing the convenience and user experience of online sales channels. By optimizing the company's website and mobile applications, providing features such as virtual tours, online appointments, and purchase consultations, customers can access project details and purchase progress anytime, anywhere. Additionally, leveraging social media and big data analysis, Origin will precisely deliver customized home buying information and promotional policies to attract more potential customers.
In conclusion, Mr. Pirapong summarized that despite market challenges, Origin remains committed to meeting customer needs through innovation and meticulous management, delivering high-quality housing products and services. With these strategies in place, Origin aims to sustain strong sales growth in the second half of the year and achieve its sustainable development goals.
