News Services

MQDC: Thailand’s MQDC to announce first residential project in India early next year


Bangkok-based property company Magnolia Quality Development Corp (MQDC) is expected to announce the partnership for its first residential project in India early next year, a senior executive said.

“We are exploring partnership with local developers. It could be a mixed use project but the core component would be a luxury residential,” said Chulamas Jitpatima, the country director of MQDC, told ET.

The company is also looking to tap Indian buyers looking to buy abroad.

Currently about 5% of the buyer of MQDC’s project in Thailand are Indian and it is making effort to increase the share.

MQDC made its entry into the Indian market in 2019 with the launch of Whizdom Club, a coworking facility located in Delhi. However, the company temporarily halted its expansion efforts thereafter.

It has now leased another 45,000 sq ft in Gurgaon for the co-working centre and is in the final stages of closing a deal for a residential project in Gurgaon.It plans to open 4-5 more co-working centre in Delhi-NCR. The company is now completing its flagship The Forestias forest district, ranked among Thailand’s largest-ever developments with an investment value of $3.8 billion. The green neighborhood spans 64 hectares, integrating homes with lifestyle, healthcare, and transport amenities.

Thailand in 2023 targets 2 million Indian tourists, increasingly central to the country’s tourism industry.

“The country also has tremendous untapped potential for Indian expats. We can also offer Indian buyers expert support to meet their lifestyle and investment goals, helping ensure secure ownership and the ideal locations and amenities,” said Wilawan Brenig, Vice President of International Market Development.


Source link