Thailand’s Top 5 property developer Origin Property Public Company Limited (ORI) forms an alliance with Fulcrum Global (Fulcrum), a leader in international real estate based in Hong Kong, to be its investment partner as well as sole foreign distributor of the company’s flagship projects. Expecting to generate in excess of 4 billion baht from the overseas market in 2018 and reaching 15 billion baht over the next three years.
Mr. Peerapong Jaroon-ek, Chief Executive Officer of Origin Property Plc (ORI), a property developer under several brands including Park Origin, Knightsbridge, Notting Hill, Kensington and Britania; said that as it plans to expand its footprint outside Thailand as part of its goal of building The Empire of Origin, it has established a strategic partnership with Fulcrum, a leading international property investment firm, to be its investment partner and distributor for ORI’s flagship projects overseas.
“Fulcrum has an excellent track record both as an investor as well as distributor with hugely successful projects in Thailand, United Kingdom and Japan. Based on our own experiences in working with Fulcrum, we are confident that this collaboration will not only achieve strong sales volume, but also cement Origin’s reputation as a best-in-class Thailand developer.” said Mr. Peerapong.
Ms. Benyapa Permpul, Senior Vice President International Business of ORI, said that the company has started tapping into the overseas market since July 2017 via the dealership system and had generated over 1.2 billion baht in sales revenue in the second half of 2017. As a sole distributor, Fulcrum will leverage their deep customer and market understanding to improve sales activities in overseas markets such as Mainland China, Hong Kong and Macau, Taiwan, Singapore and Malaysia. Fulcrum will also be a significant business ally of ORI to capture new buyer markets and segments, especially in the European market.
“Once the alliance is formed, we target to generate 4 billion baht this year from the overseas market. This should also be the key driver to push total sales volume beyond our earlier projection announced in the beginning of this year. We also target overseas sales volume to reach 15 billion baht over the next 3 years,” said Ms. Benyapa.
To further enhance the alliance, Origin will be opening a sales office and showroom with Fulcrum in Hong Kong in order to promote Origin’s brand in the overseas market, as well as provide local-language customer service support. With a local showroom, potential buyers can obtain a better understanding of ORI’s projects without the hassle of having to make a trip to Thailand.
Mr. Frank Leung, Managing Director of Fulcrum, said it is an exciting opportunity to further deepen Fulcrum’s alliance with ORI following its success as an investor in acquiring over 450 units of Park 24. Together with the developer, Fulcrum launched the “The Park at EM District”, a serviced apartment managed by the Ascott Limited, which can be purchased by buyers who are interested in acquiring a landmark property with stable rental income and strong management. The project has been a resounding success both with local Thais and overseas buyers.
In addition to direct investments, Fulcrum also worked with ORI to promote its projects in the international market, launching projects such as Knightsbridge Prime On-nut, the Knightsbridge Space Rama IX and Kensington Sukhumvit Theparak in the overseas markets with strong sales exceeding THB 1.5 billion.
“Thailand’s condominium market is extremely attractive for overseas buyers. It is estimated that international market for Thai property exceeded 120 billion baht in 2017, with the market expected to grow by over 40% in 2018. ORI’s projects sets the benchmark in terms of location, project concept, unit layouts, facilities as well as irresistible value.” said Mr. Leung
According to a survey by Juwai.com, Bangkok is ranked as the second most attractive property market for Chinese buyers of international real estate. In addition to an outstanding track record of capital appreciation over the years, a strong tourism industry along with being one of the key beneficiaries of China’s One Belt One Road initiative make this the destination market of choice for buyers of international real estate. ORI and Fulcrum’s strategic alliance will allow both companies to put their best foot forward to reach ever greater heights together.
Origin Property Public Company Limited has three core businesses: 1. Project Development Business, with condominium development of around 46 projects with a combined value of over 65 billion baht. 2. Recurring Income Business such as hotels, service apartments, office buildings and retail spaces, and 3. Service Business such as property management services, property brokerage services and property consultancy. It has the vision and breadth to continuously expand into new businesses to achieve its goal to become a fully integrated property developer and operator.
Established in Hong Kong in 2008, Fulcrum Global is an investor, developer and distributor of overseas property with assets under management exceeding 16 billion baht. It focuses on city-center property investments in the United Kingdom, Thailand and Japan, partnering with some of the best developers in these countries. With its extensive distribution network across Asia, Europe and Africa, the Fulcrum platform creates unparalleled access in promoting its projects to a wide investor base.