Thailand luxury property developer Magnolia Quality Development Corporation has partnered with Greenland Group, one of China’s top five real estate companies, and Charoen Pokhand Group (CP Group) with the aim of strengthening its position as one of Thailand’s premier developers in the sector.
Yesterday the company announced it has signed a ground-breaking joint venture agreement with Greenland Group and CP Group to develop a new project.
Tipaporn Chearavanont, CEO of Magnolia Quality Development Corporation, said: “Magnolia is making a major, strategic move by partnering with Greenland Group and CP Group. We aim to have our first project ready to announce during the first half of this year, and which will result in new investment.”
She added the alliance will further strengthen the position of Magnolia as one of Thailand’s top luxury real estate developers, as well as result in new foreign investment in Thailand.
“We see enormous potential in Thailand’s luxury real estate development sector and are committed to being among the top players. We believe that global partnerships with some of the world’s largest and most successful real estate corporations will help to further strengthen our offerings in Thailand, reinforce Magnolia’s leading position, as well as stimulate Thailand’s real estate sector.”
Pictured from left are Xu Jing, Executive Vice President of Greenland Holding Group; Tipaporn Chearavanont, CEO of Magnolia Quality Development Corporation Limited; and Michael Ross, Representative from Charoen Pokphand Group.
Andrew Batt, International Group Editor of PropertyGuru Group,
wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
Our editors’ pick of recent stories you may have missed:
MUST READ: Why parts of Bangkok’s condo market are at saturation point
Big drop in new home launches
Phuket tourists are driving up property prices
Asia-Pacific property investors are set to spend more
If you have a property story you want us to publish email andrew@allproperty.com.sg