Property developer Magnolia Quality Development Corporation Ltd (MQDC) intends to focus on innovation and R&D for future developments, which will be mainly theme and mixed-use projects.
Visit Malaisirirat, chief executive of MQDC, said the company planned to launch a new mixed-use development project in the second half of 2022.
"The Forestias, our first theme project, will start the transfer of residential units by the end of 2023," he said. "We will develop a theme project every few years as large developments consume time and a lot of resources and contain various sub-projects with so many components."
Mr Visit says the company's metaverse will be another purpose-driven project, aiming for the well-being of communities and society.
PROVEN TRACK RECORD
Mr Visit said the success of The Forestias on Bang Na-Trat KM 7, which has to date recorded more than 20 billion baht in residential sales, accounting for half of the total sales value, proved that the company was heading in the right direction.
"During the pandemic which hit the property sector, we had units constantly sold at the project as they met consumers' needs of sustainability and high standards," he said.
The Aspen Tree, a low-rise condo project targeting those aged 50 years and above with holistic lifetime care, and Mulberry Grove, a low-rise condo development for multi-generation families, achieved sales of more than 50%.
At the same time, Six Senses Residences, with 27 high-end single detached houses, was nearly 80% sold, with sales of over 4.7 billion baht.
Units at The Forestias's first high-rise condo tower, costing over 150,000 baht per square metre, recorded a sales rate of more than 80% despite higher prices than others in the same location.
The success came from a commitment by the company's founder Thippaporn Ahriyavraromp, the youngest daughter of Charoen Pokphand Group's senior chairman Dhanin Chearavanont, 'for all well-being' since the beginning, he said.
"Every project we develop and plan to do in the future will have to benefit the planet, society and local communities, not only customers," Mr Visit said.
"The Forestias is our prototype. It is showing everyone our business operation under the business-social integration philosophy. It is a purpose-driven project, requiring R&D to support its development from the beginning."
BASED ON INNOVATION, R&D
As research found that people living closer to nature would be healthier, happier, and live longer, the company developed The Forestias with extensive green spaces.
"After we got the land plot, we did not start land development but did a survey first, sending a research team to do it for three months. We gradually relocated animals before starting land development and then planting the trees," he said.
The project created a forest for local communities, not only residents, with green space covering 56% of the total area of 398 rai. It also focused on sustainability, waste, temperature reduction, and energy conservation.
To develop The Forestias and future projects under the concept of 'for all well-being', MQDC invested in research and development through centres --the FutureTales Lab and the Research & Innovation for Sustainability Center (RISC).
FutureTales Lab is a futurology centre which gathers, analyses, and interprets key data to produce a better future. It studies the future of living with forecasting tools to explore the future of living, learning, leisure, travel, and sustainability.
"We will open the lab which is located at True Digital Park to the public in the near future to share knowledge and research work related to future studies," he said.
Led by Singh Intrachooto, RISC is Asia's first research base for sustainable building with a focus on well-being. It is a knowledge-sharing environment where researchers in science, engineering, industrial design and art devise environmentally and socially sustainable solutions for healthier ecosystems.
"Works and findings from FutureTales Lab and RISC help our projects stand out and achieve our vision and mission through sustainability to address climate change, inclusiveness for all communities, and well-being," said Mr Visit.
MQDC also has other labs, including the Urban Action Lab, which will study and design smart living solutions, and the Creative Lab, which will study and design products. All are working on the company's future projects.
METAVERSE FOR WELL-BEING
Since March 2022, MQDC has worked with Accenture, a specialist in metaverse development, to create an experience for MQDC's residents and the public in line with the company's core mission to provide happiness and well-being across both the real and virtual worlds.
The company also works closely with its main partner T&B Media Global (Thailand), a leading animation series producer which is developing the Translucia metaverse, of which MQDC's metaverse will be part.
Mr Visit said the company's metaverse will be another purpose-driven project, aiming for the well-being of communities and society.
"Property development based on and supported by R&D and innovations is our core competency, making us different from others. We have global partners and the country's top firms getting involved to level up quality and standards," Mr Visit added.
