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Baht/$ 33.39/42
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14,650
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REAL ESTATE
SOMPORN THAPANACHAI
Magnolia Quality Development Corporation Co, a luxury housing developer, is still confident in the property market and has plans to launch six new projects worth around 10 billion baht this year, according to managing director Visit Malaisirirat. The company has already secured land for five projects and has met with several potential partners including banks, local and foreign property funds and individual investors.
''We are confident of having money to develop the projects. Now it's just our call whom we will choose,'' said chief financial officer Nisa Aimanoj.
Its projects would include both single houses and condominium units under three different brands, Baan Magnolia, WHIZ.dom and Eco Village.
The 2.5-billion-baht Baan Magnolia 2 The City of Troy, situated on a 22-rai plot in a golf course at Bang Na Km 7, would comprise seven-storey buildings housing 238 condominium units at prices between 60,000 and 120,000 baht per square metre and 12 lakeside villas priced from 30 million baht each.
The project would be launched in August and construction should start in January next year.
Its five-billion-baht Baan Magnolia 2 The Dheva Pattaya, situated on a 40-rai plot, would have a five-star hotel, a 35-storey condominium building and 12 villas on the creek.
The third project is the 800-million-baht Baan Magnolia 4 True Eco Park, a joint investment with True Corporation. The project, situated on a 100-rai plot in Khao Yai, would be developed under the ''ecotainment'' concept. The project would have residential units, a resort and a hotel.
The company is also preparing to launch a new condominium brand, WHIZ.dom, to offer buyers customisable units suited to each customer in locations close to the mass transit routes.
Developments under the brand will include the 800-million-baht WHIZ.dom DTGO Campus on Sukhumvit 64 and comprise 79 units at prices starting from 65,000 baht per sq m, to be launched in September, and a 600-million-baht WHIZ.dom Phahon Yothin.
Its last project to be launched this year is the 300-million-baht Eco Village, which will be a pilot project for the development of units that would generate revenue to owners.
It is now still choosing the right locations on the outskirts of Bangkok.
Nattapong Jaruwannapong, MQDA's general manager, said the company believed that people would be more selective during the sluggish economy.
He said that his company would focus more on quality products to encourage strong sales.
The company aims to be a research-based property developer that integrates innovations relating to the use of materials and energy conservation designs into its projects, said the company.
The company said that it had cut costs by shortening the business cycle from project design until completion by 30-50%.
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