SET-listed developer Origin Property Plc (ORI) plans to launch 14 new residential projects this year worth 30 billion baht, doubling last year's figure.
Chief executive Peerapong Jaroon-ek said the new projects will comprise 10 condominium sites worth 26 billion baht in Greater Bangkok and four single-house, townhouse and duplex projects worth 4 billion.
Of the low-rise projects, 1.4 billion baht is planned for locations in the Eastern Economic Corridor (EEC), while the rest is for eastern Bangkok zones such as Bang Na and Srinakarin.
"The EEC will be the country's focus for the next decade," Mr Peerapong said. "Potential zones for residential development include Ban Pho in Chachoengsao, Sri Racha in Chon Buri, and Pluak Daeng, Ban Chang and Ban Khai in Rayong."
The EEC is the government's flagship policy to develop 30,000 rai in the eastern provinces of Chon Buri, Rayong and Chachoengsao as a ready-to-invest industrial zone to accommodate next-generation industries.
In locations between Bang Na and Suvarnabhumi airport, Origin is looking for plots to invest in for a rental warehouse with usable area of 30,000 square metres.
The warehouse will be a joint venture with Japanese developer Nomura Real Estate Development Co.
The two companies teamed up for condominium development last year.
"Nomura wants to invest in warehouses in Thailand to support one of its large Japan-based customers, which currently rents other party's warehouse space," Mr Peerapong said. "The development plan will start next year."
This year Origin will initiate additional joint venture condominium projects with Nomura on at least three sites.
One of projects will be on Soi Thong Lor, where the company will launch Park Thonglor, worth 11 billion baht, with three buildings in the first phase.
The second phase will be a mix of serviced apartments, serviced office space and retail areas.
The whole project, with an estimated price tag of 37 billion baht, will require six years for construction to be completed.
Origin will also have two other mixed-use projects.
One will be located on a four-rai plot on Phaya Thai Road worth 10 billion baht.
The other project will be Origin 24, worth 23 billion baht, which will be located on a leasehold, 3.5-rai plot on Sukhumvit Soi 24.
The project will comprise two buildings with 80 hotel rooms, 305 serviced apartment units, and office and retail space for rent.
"We aim to boost recurring income from properties for rent from 5% to 20% in the next five years," Mr Peerapong said.
This year Origin aims to have 20 billion baht in presales, up from 14.8 billion last year. Revenue will grow to 15 billion baht from 9 billion last year.
As of the end of last year, the company had a sales backlog of 27.4 billion baht, of which 11.8 billion will be realised this year.
The company also had 600 units at completed condominiums remaining for sale, worth 1.8 billion baht.
ORI shares closed yesterday on the Stock Exchange of Thailand at 21.90 baht, down 10 satang, in trade worth 60.8 million baht.