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.

Building Material

18 Sep 2025

Ambuja Cements Drags JSW Cement to Court Over ‘Kawach’ Brand

Ambuja Cements, part of the Adani Group, has filed a trademark infringement case against JSW Cement in the Delhi High Court, alleging that its rival copied the ‘Kawach’ brand with its new product ‘Jal Kavach’.Justice Manmeet Pritam Singh Arora issued summons to JSW Cement and its subsidiary, JSW IP Holdings Pvt Ltd, while referring the matter to mediation. Hearings are scheduled to resume on October 15 if no settlement is reached.Ambuja, which registered the ‘Kawach’ trademark in 2019, argues that the term ‘Kavach’—meaning shield—is the distinctive feature of its branding. ..

Bentley Systems Named Innovation Partner of the Year 2025 by Afcons

Bentley Systems, the infrastructure engineering software company, has been recognised by Afcons Infrastructure Limited as its Innovation Partner of the Year 2025 at the Innovation Partners 2025 Felicitation Ceremony in Mumbai. The award acknowledges Bentley’s contribution to Afcons’ engineering digitalisation journey through an enterprise agreement providing access to over 250 Bentley engineering software tools. This adoption has enabled Afcons to accelerate project delivery, standardise digital workflows, and strengthen innovation across its infrastructure portfolio. Among key i..

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

State Bank of India (SBI) has completed the sale of a 13.18 per cent stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for over Rs 8,889 crore. The divestment is part of a Rs 13,482 crore deal finalised in May with SMBC and seven private banks.Following the transaction, SBI’s shareholding in Yes Bank stands at 10.8 per cent. The deal, involving 4,134.4 million shares at Rs 21.50 each, is the largest cross-border transaction in the Indian banking sector.SBI Chairman C S Setty described the 2020 RBI-led rescue of Yes Bank as a pioneering public-private partnership, addi..