Origin budgets Bt2.5 bn for land

The company is targeting boosting its total revenue to Bt4 billion this year, chief executive officer Peerapong Jaroon-Ek said.

“We believe the property market this year will grow between 10 per cent and 15 per cent thanks to the government’s measures and the country’s economy showing signs of recovering,” he said. He said demand for residential projects was still strong in the middle to upper-income market, and that was why the company was launching the 10 residential developments

Three of the new projects will launch in the first quarter and be worth Bt4 billion in total, he said. 

They are Notting Hill Laem Cha Bang, Notting Hill Praksa, and Notting Hill Saphan Mai. 

The next seven projects will be launched in the second half of this year, he said. Origin is targeting total presales of Bt7.5 billion this year. 

The Bt4 billion revenue target is a 100 per cent increase from the Bt2 billion in revenue last year.

“We are confident our total revenue will achieve the target thanks to our total backlog, which is ready to be sold to residents and is waiting to be transferred to customers … Nearly half of the total backlog will be transferred to customers this year,” he said.

The backlog is worth Bt7 billion.

Origin Property is developing 25 residential projects worth Bt15 billion in Bangkok, Chonburi, and Nonthaburi provinces.