Apisit Soonthronchukiat, chief executive officer of Origin Condominium, said at a press conference on Thursday that the company had seen 10-15% annual growth over the last five years since launching its first pet-friendly condominium units in 2019.
He pointed out that the growth was in line with the pet industry trends.
According to a recent study by the College of Management at Mahidol University, an increasing number of Thai people are opting to become “pet parents” rather than having their own children.
This means Thais were willing to spend time and money on household animals, providing a bright spot for pet-related businesses such as pet-friendly condominiums.
Meanwhile, according to data from the Commerce Ministry’s Department of Business Development, the Thai pet market could grow at an annual rate of 8.4%, reaching 66.7 billion baht in 2026.
Apisit said that by the end of this year, Origin would have 16 pet-friendly condominium projects in the pipeline, worth around 26 billion baht.
The units have already achieved 63% presales, or approximately 2,063 units, worth approximately 4.98 billion baht, he said, adding that the buyer response had led Origin to become the largest developer in Thailand to provide pet-friendly condominiums.
Credit: http://nationthailand.com
