Origin Property, one of Thailand’s top listed property developers, has signed a sole foreign distribution agreement with Hong Kong-based Fulcrum Global.
This means Fulcrum will act as an investment partner, as well as being the sole distributor outside Thailand for its growing number of Bangkok property projects.
The deal is expected to be worth THB 4 billion this year, and as much as THB 15 million over the next three years.
The Thailand property developer boasts Thailand property brands including Park Origin, Knightsbridge, Notting Hill and Kensington.
Peerapong Jaroon-ek, the Chief Executive Officer, said it plans to expand its footprint outside Thailand as part of its goal of building “The Empire of Origin”.
It has established the strategic partnership with Fulcrum to be its investment partner and distributor for our flagship projects overseas, he added.
Benyapa Permpul, Senior Vice President International Business, added the company had started tapping the overseas market since July 2017 and had generated more than THB 1.2 billion in sales revenue in the second half of 2017.
She said that as a sole distributor, Fulcrum will leverage its customer and market understanding to improve sales activities in overseas markets such as Mainland China, Hong Kong and Macau, Taiwan, Singapore and Malaysia.
Fulcrum will also be a significant business ally to capture new buyer markets and segments, especially in the European market, she said.
Origin will be opening a sales office and showroom with Fulcrum in Hong Kong in order to promote Origin’s brand in the overseas market, as well as provide local-language customer service support.
With a local showroom, potential buyers can obtain a better understanding of the company’s projects without having to make a trip to Thailand.
Frank Leung, Managing Director of Fulcrum, said it is an exciting opportunity to further deepen Fulcrum’s alliance with Origin following an investor acquiring more than 450 units of Park 24.