Magnolia Quality Development Corporation (MQDC), a property subsidiary of the agribusiness giant Charoen Pokphand Group, plans to enter the mid-priced housing market in the second half of the year, says managing director Visit Malaisirirat.
The company is now negotiating to buy a land plot to develop a single-house project worth at least 800 million baht, likely in the Rangsit area, as MQDC wants to preserve a Bang Na location for its high-end Baan Magnolia project.
Mr Visit is confident the company will complete the acquisition in the first half of the year and be able to launch the project in the second half, in time to generate realised revenue this year.
The company is hoping to achieve 1.6 billion baht in sales from its planned single-house project and the recent launch of its Whizdom @ Punnavithi Station condominium as well as villas for sale in Khao Yai to be launched in the fourth quarter.
The Khao Yai villas will also have a boutique hotel and resort at the same location. The 300-million-baht project will have around 50 rooms to welcome guests next year and nine villas for sale.
MQDC recently offered about 230 units at two new buildings of the Whizdom project, worth about 800 million baht. It has 50% of the units remaining at sizes starting from 34 square metres and prices from 1.89 million baht.
Mr Visit believes the company will earn 1.2 billion baht in revenue this year from the transfer of units in Whizdom’s first buildings, some of Baan Magnolia and the new planned single-house projects.
Source : bangkokpost.com