Magnolia Quality Development Corporation (MQDC), a Thai real estate developer, is discussing potential projects in the National Capital Region (NCR) with local builders. According to Chulamas Jitpatima, MQDC India’s Country Director, a partnership for a project may be announced early next year.
The company plans to establish five co-working facilities in the NCR, with one already operational in Greater Kailash-II and another on Golf Course Road in Gurugram starting on November 30.
The partnership for a project in the NCR, focusing on luxury residential developments in Delhi and Gurugram, is expected to be finalized in the coming months. Jitpatima mentioned that project details might be revealed in early or mid-2025.
MQDC, valued at over $9 billion globally, is experiencing growth. Jitpatima did not disclose specific investment details, stating that they are likely to be finalized early next year.
The second co-working facility, Whizdom Club, opened on Golf Course Road in Gurugram on November 30, with plans for a total of five facilities in Delhi-NCR. The Greater Kailash-II facility has 80% occupancy, and the upcoming Gurugram facility is already 15% occupied.
MQDC showcased its premium Bangkok properties for Indian buyers at an event attended by Pattarat Hongtong, the Ambassador of Thailand to India. About 10-12% of MQDC’s sales come from foreign buyers, with 5-6% being Indian buyers, reflecting India’s significant potential for the company.
