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Thailand's MQDC ventures into luxury housing projects in Delhi-NCR, eyes local partnerships

MQDC, a subsidiary of DTGO, operates as an international property developer across India, China, and Thailand. Founded in 1993, DTGO focuses on developing, investing in, and managing residential, community district, and theme projects, including retail and hotels.

Nitin Kumar Edited By: Nitin Kumar @Niitz1 New Delhi Published on: December 04, 2023 6:54 IST
New Delhi
Image Source : MQDC MQDC showcased its prestigious Bangkok properties at an exclusive invitation-only event in New Delhi’s at The Imperial Janpath, New Delhi.

MQDC, a Thailand-based realty giant with a presence in India's co-working sector, sets sights on luxury housing ventures in Delhi-NCR. In discussions with local builders for joint development, MQDC India, the Indian arm of Magnolia Quality Development Corporation, is poised for a significant expansion in the region. With an operational co-working space in South Delhi, MQDC India is set to launch its second facility, 'Whizdom Club India,' at Golf Course Road, Gurugram, this Friday. MQDC India Country Director Chulamas Jitpatima (Amy) revealed plans for luxury housing projects, emphasizing ongoing talks with local developers and site evaluations.

Anticipating an announcement of partnerships in early 2024, Amy envisions the debut of MQDC's first residential project in Delhi by 2025. The realty firm extends an invitation to Indian investors to explore its Bangkok properties, showcasing options to High Networth Individuals (HNIs) this week.

MQDC properties in Bangkok boast an average annual yield of 5-7%, with a 3% annual capital gain and a 5% rental return. Amy highlights the range of property prices in Bangkok, spanning from Rs 25,000 to Rs 1 lakh per square foot.

Turning to co-working centers, MQDC's Greater Kailash facility, with 22,000 square feet and 250 seats, operates at an impressive 80-90% occupancy. The company is gearing up to launch its second center at Golf Course Road, covering 42,000 square feet and accommodating around 500 desks in 'Tapasya One,' a LEED Gold-rated building.

Amy underscores MQDC's commitment to meeting the diverse needs of working professionals, corporations, and startups in the national capital region. Since entering India in 2019, MQDC identifies growth opportunities and remains deeply committed to expansion and diversification in the country.

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