Origin ramps up non-residential push

SET-listed developer Origin Property aims to increase the contribution of nonresidential revenue to two-thirds of total profit within 5-10 years, up from an estimated 50% this year, as it diversifies into hotels, services and warehouses.

- MOLPASORN SHOOWONG

Chief executive Peerapong Jaroon-ek said the company has diversified its portfolio to meet changing demand and circumstances, as the nonresidential segment generates recurring income.

Last year the company’s service, hotel and warehouse segment contributed around 45% of total net profit, while 55% was derived from residential sales. The nonresidential share is expected to increase to 50% this year.

“We are not concerned about selling fewer houses or condos in the future," he said.

"If Thailand can attract more foreign tourists and potential buyers, residential sales will grow. If not, we can generate income from operating hotels or apartments."

In 2025, the company sold two hotels in Bangkok for 1.3 billion baht, generating a 20% internal rate of return, compared with 10% from property operations.

Origin also sold warehouses and land last year, generating an additional 385 million baht in cash.