The first phase of Magnolia Quality Development Company’s (MQDC) mixed-use project, Whizdom 101, is now 90 percent sold after a foreign investor purchase more than 100 residences, the company announced via a press release. The development, which is located on Sukhumvit Road, has received a better-than-expected response from target customers and is carrying on as planned.
The project is actively targeting buyers from the ASEAN Economic Community by offering world-class residences. The massive purchase of 100 residences for over THB 530 million by a Singaporean investor shows just how confident buyers are in the project, the company added. MQDC proclaimed that the investor is confident that he can move the units and will put them up for sale in Singapore, Hong Kong, China, Taiwan and Malaysia. He aims to have the residences sold before the end of this year.
“The confidence the Singapore investor has in Whizdom 101’s potential lies in its outstanding strengths and uniqueness, including our development concept of The Great Good Place that has been introduced for the first time in Thailand and has been a success in the world’s major cities, our partnership with consultants who are the world’s top experts in building a world-class project complete with residences, offices, retail spaces and one of the largest sports clubs in Thailand to be professionally managed by executives of the largest club in America, and the project as Thailand’s first integrated digital community,” Suttha Ruengchaipaiboon, executive vice president of MQDC, explained in a press release.
At the moment, only 30 units remain in the Whizdom Connect Sukhumvit project and MDQC is expecting to sell out the remaining supply by the end of the year and launch sales for the second phase shortly thereafter. Suttha pointed out that buyers of the units at the project are 80 percent Thai with the rest being foreigners.
“Whizdom 101 has received a better-than-expected customer response and is of great interest to prospective customers in general and investors,” Suttha noted. “It is evident that after we announced a grand rollout of the project in July when the new concept of ‘The Great Good Place’ was introduced for the first time in Thailand to mixed-use development resulting in the perfect mix of residence, workplace and resting space for social activities, it sparked a sharp increase in sales of Whizdom Connect Sukhumvit.”
