 "Thailand-based MQDC plans to develop luxury housing projects in Delhi-NCR")
Thailand-based realty firm MQDC, which is present in co-working space in India, plans to develop luxury housing projects in Delhi-NCR and is in talks with local builders for joint development.
MQDC India, Indian arm of Thailand-based Magnolia Quality Development Corporation (MQDC), has one operational co-working facility in South Delhi. It is launching second co-working facility 'Whizdom Club India, at Golf Course Road, Gurugram, on Friday.
"We plan to develop luxury housing projects in Delhi and Gurugram. We are in talks with local developers. We are evaluating few sites," MQDC India Country Director Chulamas Jitpatima (Amy) told reporters here.
She hoped that the company would be able to announce its partnership early next year with local developer.
Amy expects to launch its first residential project by 2025.
MQDC is also inviting Indian investors to buy flats in its various properties at Bangkok. It is showcasing its properties to HNIs (High Networth Individuals) here this week.
More From This Section
MQDC properties average about 5-7 per cent in annual yield, with annual capital gain of around 3 per cent and rental return of about 5 per cent.
Amy said the properties in Bangkok are available in a range of Rs 25,000 per square feet to Rs 1 lakh per square feet.
On co-working centres, she said the company's first centre at Greater Kailash, comprising of 22,000 square feet and 250 seats, is operating at 80-90 per cent occupancy level.
Amy said the company is starting the second centre at Golf Course Road, comprising up of 42,000 square feet and around 500 desks. The upcoming centre is located at 'Tapasya One', a LEED Gold-rated building.
The centre will cater to the diverse needs of working professionals, corporations, and startups in the national capital region.
Since the inception of its operations in India in 2019, Amy said, the company has identified significant growth opportunities and is deeply committed to expansion and diversification in India.
MQDC, an international property developer spread across India, China, and Thailand, is a subsidiary of DTGO, a business-social organisation founded in 1993. It develops, invests in, and manages residential, community district, and 'theme' projects, including retail and hotels.