MQDC to announce first residential project in India

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. 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.