Magnolia Quality Development Corporation Ltd (MQDC) is known for its commitment to developing projects with a smart city concept. In line with this philosophy, the company is considering developing smart city mixed-use projects in both Thailand and China during the next 3 years, reports local media.
The developer has begun studying new locations in western and northern Bangkok that are suitable for a smart city mixed-use project. After this has been completed it will expand its search to Thailand’s provinces and overseas. Should it choose to build a development in China, MQDC would work with a local partner in the country.
“To develop a smart city property project, good infrastructure is necessary,” he said. “City areas in major provinces like Phuket and Chiang Mai also have potential for the development,” says Suttha Ruengchaipaiboon, MQDC President, to the Bangkok Post.
MQDC has established the smart city concept at its Whizdom 101 mixed-use development that is currently under construction. The project will have 3 condo buildings when completed with 2 of these having already been launched. The 3rd is expected to be unveiled early in 2018 and is going to be marketed to buyers from abroad.
“We are in talks with property agents from Hong Kong and Singapore who will buy a lot of 100-200 units. They will buy them to resell to individual buyers in their countries,” says Suttha.
Whizdom 101 has been heavily promoted internationally with MQDC holding road shows in Singapore, Hong Kong, Taiwan, China, and Malaysia in the past 12 months. Sales from foreign buyers accounted for 30 per cent of the project’s total sales.
In addition to the residential towers, Whizdom 101 will have 20,000 sq. metres of retail space and 2 office towers that will be completed in the next 3 years. Earlier this year, the project won a smart city design award in the Smart Cities Clean Energy project held by the Energy Policy and Planning Office and the Thai Green Building Institute.
Featured Image : www.mqdc.com/whizdom101/en/home
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