Magnolia Quality Development Corporation Ltd (MQDC), a property firm owned by the Chearavanont family, plans to launch 10 new projects worth a combined 100 billion baht in Bangkok and beyond next year.
Chief executive Visit Malaisirirat said more than half of the total development value will comprise two mixed-use projects on Bang Na-Trat Road in Bangkok and in Pattaya.
"Mixed-use development is a global trend that can create value and differentiation for a project," he said. "Developers need to adjust and apply it."
MQDC is designing the concept for a mixed-use project in Pattaya that will be a joint venture with Chinese partner Shanghai Kinghill Ltd, which has expertise in the retail business, said Mr Visit.
Shanghai Kinghill is a subsidiary of Chia Tai Group Company Ltd, one of the Chearavanont family's agricultural businesses. Founded in 2002 and based in Shanghai, it owns and operates an urban shopping centre, Super Brand Mall, in Shanghai.
The Pattaya site, which is estimated to have a development value of over 30 billion baht, will be a joint venture between three parties under one conglomerate comprising the Chearavanont family's Charoen Pokphand (CP) Group, MQDC and Shanghai Kinghill.
The project will comprise a residential development, hotel and retail space and be located on a 40-rai plot in the Na Jomtien area, which was formerly used by Charoen Pokphand Foods, a CP Group business.
Mr Visit said one of the new projects MQDC plans to launch next year will be a super-luxury condominium worth 8 billion baht, which will be located on a four-rai plot near Lake Ratchada Office Complex on Ratchadaphisek Road, opposite to Benjakiti Park.
Of the 10 new projects MQDC plans to launch in 2018, six will be developed under the Whizdom brand, together worth over 20 billion baht.
One of them will be Whizdom Chinatown, worth 4 billion baht, which will be a 30-storey condominium with 200 units priced from 200,000 per square metre. The project will be located on a two-rai plot near MRT Hua Lamphong.
MQDC next year will transfer units at three residential projects. They will comprise Magnolias Waterfront Residences and Mandarin Oriental Residences at IconSiam, together worth over 18 billion baht and now sold out and 70% sold, respectively.
Others will be Whizdom 101, worth 20 billion baht, with the first tower sold out and the second tower 70% sold.
During the first 10 months of the year, MQDC transferred 100 units at Magnolias Ratchadamri Boulevard, a luxury leasehold condominium worth 6 billion baht, which is located on a leasehold 6.5-rai plot on Ratchadamri Road, near the Ratchaprasong Intersection.
The 60-storey tower, which has a total of 316 condominium units, is 80% sold. The remaining units have an average price of 280,000 baht per sq m for a 30-year lease contract plus 20 years. Sales are targeted to close in the second quarter of 2018.
There will also be 171 hotel rooms worth 5 billion baht, which will be operated by American hotel chain Hilton under Waldorf Astoria Bangkok. Hotel operations will start by the end of the first quarter 2018.
MQDC is a subsidiary of DT Group of Companies, founded by Thippaporn Ahriyavraromp, the youngest daughter of Dhanin Chearavanont, chairman of Charoen Pokphand Group, the country's leading agro-industrial conglomerate.
