ORIGIN aims high 

A subsidiary, Primo Service Solution Co Ltd, was set up to collaborate with startups in the development of a “digital butler” – a living platform providing a selection of services to the residents of company’s preojects, he said. 
The unit also serves as an office for property management, housekeeping, brokerage and rental service.
He said besides building facilities, the company is also focusing on meeting the demands for convenience through innovative services. 
The company first applied the “digital butler” concept on the five residential projects it launched this year – Knightsbridge Space Rama 9, Knightsbridge Collage Sukhumvit 107, Park Origin Thonglor, Knightsbridge Space Ratchyothin, and Kinsington 63. Homebuyers can simply download the application for variuous services such as shopping and house maintenance. 

In line with “Smart Service Living Solution”, all of the company’s new projects will come with “digital butler” as a sales strategy, he said. 
To drive business growth towards the 2023 target, it plans to launch 18 residential projects worth a total of Bt35 billion next year, to be located in Bangkok and the three provinces covered by the Eastern Economic Corridor mega-project, namely Chachoengsao, Chon Buri, and Rayong. Twelve of the 18 planned for next year will be condominiums costing a total investment of Bt27 billion, of which Bt12 billion worth of projects will be co-invested with its Japanese partner Nomura Real Estate Development Group. The other six projects, to be developed by the company itself, are low-rise residences (single-detached houses, twin houses and townhouses) under the “Britania” brand, he said. 
All the projects planned for next year are targeted at the middle- to upper-income market with starting prices set at Bt5 million per unit. This segment is not expected to be negatively impacted by the Bank of Thailand (BOT)’s announced policy to rein in mortgage approvals by commercial banks. 
The new BOT regime raises the down payment on a property from 10 per cent to 20 per cent and broadens the scope in calculating the overall debt of the applicant, including personal loans and credit card spending among others, before a judgement is made on his/her ability to repay the mortgage in full, Peerapong said. 
“We will continue with the launches of new projects next year in view of the economic growth forecast of four to five per cent and the government’s continued investments in infrastructure projects that will boost the demand for residential units in certain areas. These positive factors will lead to a double-digit growth in our presales and total revenue in 2019,” he said.
Despite fierce competition in the market, the company is confident of achieving its growth target, thanks to project designs and the wide range of innovative services on offer to meet homebuyers’ demands. 
The company has a total backlog (units sold, waiting to be transferred to buyers) worth Bt34 billion. The amount will be added to the company’s annual revenues from 2019 to 2021.

Recurring incomes
Despite continuous rise in pre-sales since its founding in 2009, the company has established One Origin Co Ltd to manage and expand its recurring incomes to ensure sustainable growth. 
The new company, formed this year, has set a Bt12-billion budget for a slew of new projects, including Staybridge Suites in Thonglor; Holiday I1nn & Suites at Sriracha Laemchabang in Chon Buri province; Staybridge Suites in Sriracha, Chon Buri province; ‘One Origin’ hotel on Sukhumvit 24 and the ‘One Origin’ retail complex in Phyathai. 

These projects, currently under construction, will be completed between 2019 and 2023.
“We expect total revenue from recurring incomes to reach Bt5 billion in 2022. We will then issue real estate investment trust units through asset sales to generate recurring income for the fund, and later expand investments for more recurring income opportunities,” he said.
He added that recurring incomes support the company’s long-term growth and ensure its stability in the event of a market slowdown. 
“Our business model is heavy on the bottom line, rather than the top line. A higher revenue but a lower net profit does not sit well with the company. Our goal is to generate high profit. The investment for recurring income will ensure long-term security for the company,” he said.
Origin Property Plc has announced a total revenue of Bt6.65 billion and a 22 per cent rise in net profit to Bt1.5 billion for the first half of this year, compared with the average growth of 15 per cent among the top 10 listed property companies in the country, according to a survey by The Nation.