ORN Boosts 1Q24 Sales with the Launch of ‘Ornsirin Ville Tharua’ Project

Ornsirin Holding Public Company Limited (SET: ORN) announced its business strategy for 1Q24 with positive sentiment, as the company marched forward to launch the ‘Ornsirin Ville Tharua’ project, a modern-style commercial detached houses with two and two and a half stories in a total amount of 102 units with a total value of THB 337 million. The project possessed prominent points by being located at a promising spot adjacent to the outer ring road, which could easily access facilities, communities, and business centers. It also contained 112-140 square meters of space with all-rounded and self-allocated functions and had a starting price of THB 3 million. The project received positive feedback from the pre-sale period during 17-18 February 2024.

Regarding the Arise (Charoenmueang) project, the high-rise condominium of 469 units with a total value of THB 1,050 million also received positive feedback in January and February, as sales revenue increased by THB 152 million from the sale of 49 units. The sales were divided into 20% Thai clients and 80% foreigners.

The outlook for the economy in Chiang Mai at the beginning of 2024 sent a positive sentiment from the increasing number of Thai and foreign travelers, especially those from Korea, Taiwan, Hong Kong, China, and Europe.

The company also launched the event, offering special promotional deals for every ongoing horizontal and vertical project, with a backlog of THB 703.55 million.

Meanwhile, ORN was still looking for opportunities to expand its business into provincial markets in the form of business alliances and others. This was for the company to continuously grow and to push its sales toward the target of at least THB 2,500 million.

ORN reported a total revenue of 1,111.47 million with a net profit of 180.51 million in 2023.