Origin Property Unveils Three-Year Phuket Expansion Plan Worth 31.6 Billion Baht
Origin Property plans to invest 31.6 billion baht in Phuket real estate over three years, launching 11 new condo projects and two hotels across the island to capitalize on rising demand from foreign buyers, particularly Russians, Poles, and
On August 8, Thanakorn Wuttiphong, Chief Executive Officer of Origin Property Public Company Limited (OR), announced the company's three-year investment plan for Phuket real estate from 2025 to 2027. The initiative aims to support Phuket's growth as Thailand's leading tourism destination and a popular second home destination for foreign buyers.
Over the past three years following the pandemic, approximately 6,000 new condo units have been added to Phuket's market, with Russian buyers leading demand, followed by Polish and Chinese purchasers. Emerging markets include India, the Middle East, and Israel, prompting Origin to target luxury properties and tourism-related developments.
The three-year plan includes 11.65 billion baht in new projects. In 2025, two condominiums worth 3.5 billion baht will launch in beachfront and Karon-Patong areas. From 2026-2027, seven additional condo projects valued at 8.15 billion baht will open across Bang Tao, Cherng Talay, Surin, Kata, and Phuket City. Two new hotels worth 1.88 billion baht are also planned for 2026-2027.
Currently, Origin operates eight condo projects with 3,937 units valued at 15.65 billion baht and three hotels with 601 rooms worth 2.7 billion baht, bringing the total portfolio to 18.35 billion baht. By 2027, this is projected to reach 31.6 billion baht. The company expects real estate revenue from Phuket to exceed 3 billion baht this year, with new revenue streams beginning in Q4 2025 from completed project deliveries.
