Tue, June 18, 2013 14:11:35 PM
Bangkok Post
Tue, June 18, 2013 14:11:35 PM
Bangkok Post
Small-scale Origin Property has found a niche market in areas between Bang Na and Samut Prakan with its British-influenced condominium projects.
After the success of three small projects worth a combined 800 million baht _ Sense of London @ Santikam 4, Kensington @ Bearing 12 and Notting Hill @ Bearing 1 _ the company recently launched its first high-rise project.
KnightsBridge Sukhumvit 107 Bearing Station features a 25-storey building with 267 units priced between 1.7 and 5.2 million baht.
Managing director Peerapong Jaroon-ek said Origin will continue tapping markets in these areas with sufficient land for new projects over the next three years.
He is seeking opportunities near the end stations of the BTS extension lines including the Bearing area and possibly Saphan Mai, where BTS plans an extension from Mor Chit.
Founded in 2009, Origin aims for 1 billion baht in sales this year from selling its new and older projects and expects to realise 200 million baht in revenue from delivery of its first project.
It hopes to realise at least 700 million baht in revenue next year.
"We're not focused on growth but want to become the expert in location and provide products answering the needs of customers," said Mr Peerapong, who has worked in serviced apartments since 2004.
He plans to close sales of the new 770-million-baht KnightsBridge project _ scheduled for completion in the first quarter of 2015 _ within six months by focusing on expats and mid-level Thai executives working in nearby areas as well as investors.
