Tue, August 16, 2022

business

MQDC has committed to applying innovative and high technology in operating its real estate business, focusing on theme projects and mixed-use project development.


As Earth’s climate warms considerably, extreme heat is becoming more common, posing severe health risks to humans and leaving many regions concerned about the personal effects of global climate change. To combat these dreaded effects, most citizens are willing to change at least some aspects of their lives and work.

Magnolia Quality Development Corporation Limited (MQDC), a leading real estate developer that is expanding globally under a unique business approach,recently held a private meeting with the media to discuss an innovative strategy for developing property projects linked to the metaverse to connect the real and virtual worlds.

The company aims to achieve its mission by untiringly tackling climate change and welcoming all communities to participate in their well-being and provide an overall sustainable society.

 

“MQDC has always prioritized innovation, investing hundreds of millions of baht in world-class research and development facilities such as our Research &Innovation for Sustainability Center and FutureTales Lab,” company CEO Visit Malaisirirat pointed out.

 

“They operate according to future trends under the concept of 'Well-being' for all. As you can see, our projects, such as ICON Siam, have become an open space for people living around to use. It’s what we call ‘inclusiveness’ which is one of our purpose for project development. Their work and discoveries contribute to our project’s vision and mission in delivering happiness and well-being through a future ‘sustainnovation’ lifestyle, which we are determined to achieve,” he said Visit Malaisirirat, CEO, Magnolia Quality Development Corporation Limited (MQDC)

“MQDC’s The Forestias at Bang Na-Trat Km7, valued at more than 125 billion baht, witnessed residential sales totaling 17.2 billion baht by the end of January 2022. Meanwhile, Six Sense Residence, the brand’s first homes in Thailand, are now nearly 80 percent sold, with sales of more than 4.7 billion baht,” Visit said.

“In addition, Aspen Tree, a community for 50+ residents with holistic lifetime care, and Mulberry Grove, a community for multigenerational families, have achieved sales of more than 50 percent even during the Covid crisis,”according to Visit.

MQDC Business Unit president Keerin Chutumstid said that developing theme projects consisting of high technology and innovation from the company-owned labs require scale.

“So, it is necessary to consider the future direction and how it will benefit the community, the public, and society,” he said.

“We have gone in for research with our foreign partners to develop the project to build big green forests in cities and to identify pain points, whether they are global warming issues or problems occurring in the community, to usher in a better quality of life by focusing on developing happy and sustainable communities,” Keerin said.

“We have created more than just a place to live in: indeed, we want to foster positive relationships among families, residents, local communities, and ecosystems across all dimensions, along with a positive impact from innovation, to make the city livable and for the well-being of residents.

“We have joined hands with people in the surrounding community so they can use many of the facilities in The Forestias to make it a center of well-being and quality life not only for our residents but also to share benefits to people in the country.

“Also, we use technology digital data platforms to help society advance, and have developed products to fit their lifestyles,” Keerin explained.

According to him, MQDC develops The Forestias as its prototype for ‘theme project’. The Forestias resembles a “smart city” by allowing technology and innovation to lead to greater efficiency in terms of facilitation and quality of life.

The strength of the theme and mixed-use project, which is differentiated from others in the same real estate industry, are:

> A Central Utilities Plant System, which controls thermal energy storage and cold/hot water supply.

> A Water Management System to recycle wastewater before it is released into the Forest Lagoon.

 Innovative biodiversity, air quality, and eco-materials.

All projects focus on reducing energy use and efficiently tackling global warming.

Aside from the company’s theme and mixed-use projects, which are all set to debut in the second half of 2022, the property developer has its sights on new technological advancements.

The first concrete realizations of MQDC’s metaverse project, which envisions a new realm that connects the real and virtual worlds, are also set to take place.

MQDC has been working with metaverse development specialist Accenture since March to create a unique experience for MQDC residents and the public, in line with the company’s core mission of providing happiness and well-being in both the real and virtual worlds, according to Mr Visit.

Leading animated series producer T&B Media Global (Thailand) is another MQDC partner. The firm is developing its Translucia metaverse, which will incorporate MQDC’s metaverse.

“We don’t just build properties in the virtual world,” Visit made clear. “What we do must be unique. We want to provide an experience beyond reality,giving people what they can’t get anywhere else. It has become a reality in our metaverse world. We will continuously disclose development progress beginning in the middle of the year,” he added.

As the meeting drew close, CEO Visit said the company would focus on expanding its theme and mixed-use projects. Every 2-3 years, a significant development with multiple sub-projects will be launched as a theme project. In addition, MQDC plans to develop more projects as it expands outside Bangkok in a typical move to create a sustainable society and well-being for residents.

Published : June 30, 2022

By : Varunsuda Karunayadhaj