Thailand's MQDC diversifies in India

29 Aug 2023 CW Team

Bangkok-based Magnolia Quality Development Corp (MQDC) is poised to expand its presence in India with a new trade venture and an enriched real estate portfolio. Chulamas Jitpatima, MQDC's country director, revealed that the company is initiating a global trade in Indian consumer goods, aligning with their strategy to diversify through mergers and acquisitions in the Indian market.

MQDC's Indian venture began in 2019 with the launch of Whizdom Club, a co-working facility in Delhi. After a temporary hiatus, the company is resuming its expansion by leasing an additional 45,000 sq ft space in Gurgaon for a coworking centre. Moreover, MQDC is finalising a deal for a residential project in Gurgaon.

Jitpatima explained, "We have a strong sourcing arm in China and Thailand and now we want to do that in India as well. We are doing both import and export of consumer products, tech gadgets, and well-being products." The company's presence will capitalise on India's strategic position in global markets and its advancements in infrastructure and green development.

While MQDC's growth strategy in Thailand revolved around trading, its Indian approach initially prioritised co-working spaces. Looking ahead, Jitpatima envisions a year of growth in trading and M&A for the company. Focus areas include startups in the tech and lifestyle sectors.

MQDC is finalising a joint venture for a residential project and is currently concentrating on the National Capital Region (NCR). With plans to open 4-5 coworking centres in NCR, the company aims to strengthen its presence. In the residential sector, MQDC prefers initial joint ventures before direct land acquisition, allowing for smoother navigation through local processes.

As MQDC diversifies its Indian ventures, the company demonstrates its commitment to both trade and real estate while aligning with the dynamic growth of India's market.

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