Origin accelerates the speed in the second half, opening 5-10 projects per quarter, focusing on joint venture houses - condos - hotels - warehouses. In the first half of the year, pre-sale is 54% of the target, 2Q23 transfer sales exceeded 4,800 million, profits of more than 870 million.

Mr. Peerapong Jaroon-ek, Chief Executive Officer of Origin Property Public Company Limited, revealed that during the second quarter of 2023 (April - June 2023), the company had more residential project ownership transfer activities. 4,812 million, a 9% growth compared to the previous quarter from non-joint venture projects (Non-JV) and joint venture projects (JV) that are gradually transferred according to the plan, at the same time, the company continues to record sales (pre-sale) of residential projects to the New-High level continuously. at 12,461 million baht, resulting in the first half of the year having accumulated pre-sales, about 54% of the year's target

In addition, in this quarter, the company moves forward with joint ventures with partners by investing in 25 new housing estates, condominiums, hotels and warehouses with a total value of more than 25,270 million baht (including the estimated value of REIT projects for hotels and warehouses). highest since the company's inception Divided into joint ventures with financial and investment partners, 11 projects worth approximately 12,144 million baht, and 14 landowner partners, worth approximately 13,126 million baht.

The company has started to move forward to open more joint ventures (Open Platform) among landowners' alliances since the end of 2022. The model of joint ventures with landowners has been developed to be clearer. As a result, in the first half of the year, the company has both Investment Partner and Landlord Partner increasing rapidly. and more land in potential locations both in and in the provinces using less capital to develop projects Meet the needs of expanding the universe according to the Origin Infinity plan, spreading the area to generate income in new potential locations across the country, creating stability and sustainability for the company's long-term growth.

While the hotel business group under One Origin Public Company Limited or ONEO, the hotel that has just officially opened in late Q1/2023 is Staybridge Suites Bangkok Sukhumvit, a Staybridge brand hotel. Suites from InterContinental Group (IHG) have been extremely well received. It has the highest occupancy rate in June to 92.13% of the total performance. As a result, the overall picture in the second quarter of 2023 of the Origin Group property Net profit was 873 million baht, a 9% growth compared to the previous quarter.

Mr. Peerapong said that from stable performance and maintaining growth throughout the first half of the year 2023, the Board of Directors' meeting Approved to propose to the general meeting of shareholders to pay dividends for the retained earnings and operating results of the company for the period 1 January - 30 June 2023 at the rate of 0.16 baht per share, representing a total cash dividend of not more than 392,659,592 million baht. By posting an XD sign on August 28, 2023, determining the list of shareholders who are entitled to receive dividends (Record Date) on August 29, 2023 and determining the dividend payment to shareholders by September 13, 2023.

For the second half of the year 2023 (July - December 2023), although the market conditions still have a variety of factors that must be closely watched, such as the establishment of a new government. policy interest rate adjustments But from the plan to expand the entire business to major cities across the country this year As a result, the company has the opportunity to access new potential markets. with high demand and has no direct competitors The company will continue to launch new projects as planned. And considering joint ventures in new projects in various locations, about 5-10 more projects per quarter.

In addition, the company has backlog sales at the end of the second quarter of 2023 at approximately 46,564 million baht, which will gradually recognize revenue from 2023-2027. There are projects that will gradually transfer ownership from the first half of this year in many projects such as Park Origin Chula-Samyan, Park Origin Ratchathewi, Soho Bangkok, Ratchada The Origin E 22. stations and more than 20 new projects to be completed in the second half of the year, both condominium projects and housing estates.

Source:https://www.bangkokbiznews.com/property/1083734

Date 16/08/2023