In a strategic move to diversify its presence in India, Thailand-based real estate firm MQDC, known as Magnolia Quality Development Corporation, reveals plans to venture into luxury housing projects in the Delhi-NCR region. The move signifies a significant step for the company, as it aims to collaborate with local developers for joint development. Presented here are the key highlights of this news by SURFACES REPORTER (SR):
Flagship Development - The Forestias
MQDC is completing its flagship The Forestias forest district, among Thailand's largest-ever developments with a $3.8 billion investment. The green neighbourhood spans 64 hectares, integrating homes with lifestyle, healthcare, and transport amenities.
Luxury Housing Ventures in Delhi-NCR
MQDC India, the Indian arm of the Thailand-based corporation, is in talks with local builders to explore the development of luxury housing projects in Delhi and Gurugram. The company is currently evaluating potential sites for this ambitious expansion."We plan to embark on high-end residential projects in Delhi and Gurugram. Ongoing conversations with local developers are in progress, and we are presently evaluating various prospective locations," conveyed MQDC India Country Director Chulamas Jitpatima (Amy).
MQDC is set to inaugurate its second co-working facility, 'Whizdom Club India,' at Golf Course Road, Gurugram, marking its continued growth in the Indian co-working space market. The first facility, located in South Delhi, operates at an impressive 80-90% occupancy level. Residences to be highlighted in Delhi include homes at The Forestias, featuring global expertise from Foster + Partners.
The homes at The Forestias include various types, such as "Whizdom" residences, "Mulberry Grove" condominiums and villas, and "The Forestias Signature Series."
MQDC India Country Director, Chulamas Jitpatima (Amy), expressed optimism about announcing partnerships with local developers early next year. The collaboration aims to harness local expertise for successful luxury housing ventures.
Residential Project Launch
MQDC anticipates launching its first residential project in Delhi-NCR by 2025. This ambitious timeline aligns with the company's commitment to rapid expansion and diversification since entering the Indian market in 2019.
Global Property Showcase
Apart from its domestic ventures, MQDC invites Indian investors to explore property investments in Bangkok. Wilawan Brenig, VP of International Market Development says, “As a sophisticated mixed-use developer, having led Thailand’s property sector for 30 years, MQDC can also exceed the market in annual yields. MQDC properties average about 5-7% in annual yield, with an annual capital gain of around 3% and rental return of about 5%."
MQDC's expansion into luxury housing and the inauguration of a new co-working facility in Gurugram signifies the company's commitment to growth and diversification in the dynamic Indian real estate market. As the company explores collaborations with local developers, the move is expected to contribute significantly to the evolving real estate landscape in Delhi-NCR.
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