Origin Property Public Company Limited (SET: ORI) announced that the company has approved One Origin Company Limited, a wholly-owned subsidiary of the company, to establish the new registered company and to enter into the joint venture agreement with TLTH Co., Ltd., a subsidiary of Tokyu Land Asia Pte Ltd.
ORI and TLTH jointly established One Sanampao Co., Ltd. with the purpose of operating an office building leasing business. The company has a registered capital of THB567,000,000, which comprises 56,700,000 ordinary shares and preference shares having a par value of THB10. ORI owns 51.00 percent of the total shares, while TLTH owns 49.00 percent.
In addition, the signing of the Joint Venture Agreement was successfully completed on 23 December 2021 and the shareholding restructuring was completed on 24 December 2021.
Following successful joint venture agreement, ORI has established three new registered subsidiaries; One Origin Bunpha Bangna Company Limited conducting real estate development, UPM Design Studio Company Limited conducting interior design business, and One Origin Hospitality Company Limited conducting hospitality business, with the goal of facilitating development of the “One Origin Sanampao” project, the Origin Group’s first prime office skyscraper. Property REIT having a net worth of THB4,400 million.