Thai-listed Origin sells 49% in four units to Nomura Real Estate for $24m

Peerapong Jaroon-Ek, CEO of Origin Property

Thai-listed Origin Property has sold 49 per cent stake in four of its subsidiaries to Nomura Real Estate Development Group for 788.96 million baht ($23.55 million).

The four companies include Origin Prime 2, Origin Ramkhamhaeng, Origin Sphere and Origin Vertical, according to the company’s filing.

Origin CEO Peerapong Jaroon-ek said, the joint venture would create synergy and know-how transfer from Nomura, which is one of the top three developers in Japan.

“We will expand the development of the condominium and commercial buildings together. Also, this will help Origin Property to expand overseas,” he said.

Nomura Real Estate has been developing projects for over 60 years in Asia and the United States. It has a strong footprint in Japan, China, Hong Kong, Vietnam, Australia and the United States.

Nomura also develops other assets such as office buildings, hotels, service apartments, retails, warehouses and logistic business.

Meanwhile, Origin Property has revised the company’s business plan this year by launching 12 residential projects worth around 18 billion baht, up from the earlier proposal of 9 projects worth 15 billion baht.

Four of these developments have been introduced to the market and the remaining eight would be launched in the second half.

Along with the revision of the business plan, it also hiked up the revenue target from 6 billion baht to 9 billion baht as well as its presale target from 13 billion baht to 14 billion baht this year.

Also read:

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Thai property developer Sansiri, SCB jointly launch Siri Venture

Thailand: Ananda launches Urban Tech fund to invest in startups

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.