Magnolia Quality Development Corporation Ltd (MQDC) is set to invest about 90 billion baht on an ambitious mixed-use and multi-generational lifestyle project that will support a forest ecosystem in the metropolitan area.
Located at Bang Na-Trat Road KM7, The Forestias is slated to open in 2022. It will include residential housing, retail buildings, office buildings, a health centre, an innovation centre, a forest pavilion, community space, a learning centre and an extensive natural ecosystem.
MQDC is a subsidiary of DT Group of Companies (DTGO), a property company owned by the Chearavanont family.
The 300-rai project is a collaboration between MQDC and the group’s global partners. They include architectural master plan consultancy Foster and Partners, EEC Engineering Network, which helped research and develop systems in the buildings based on MQDC’s concepts, Atelier Ten for sustainability systems, ITEC Entertainment for experience and entertainment, Six Senses for hospitality and residential management, and Harvard T H Chan School of Public Health for healthy living and well-being.
Construction is scheduled to begin next year.
Chief executive Visit Malaisirirat said the world is dealing with a deteriorating natural ecosystem, broken families and an ageing society, leading to feelings of isolation and depression. He said MQDC aims to develop real estate projects that offer sustainable, happy living through eco-friendly design, modern innovation and technology.
Kittiphun Ouiyamaphun, the company’s senior vice-president for development of The Forestias, said the flagship project redefines the property industry with its concept of “Imagine Happiness”, with the core focus on nature, families, health and well-being.
Mr Kittiphun said their global partners are experts in their fields. Atelier Ten, for example, has contributed to the research and prevention plan to reduce environmental impact and ensure balance and sustainability through innovations.
The company is also in charge of monitoring and assessing construction and design to make the project a model for other world-class projects.
Atelier Ten is the company behind Singapore’s award-winning architectural attraction Gardens by the Bay.
Mr Visit said earlier last month MQDC plans to launch 10 projects worth over 100 billion baht in Bangkok and beyond next year.
MQDC is also designing the concept for a mixed-use project in Pattaya, which is estimated to have a development value of over 30 billion baht.
The project be a joint venture between three parties under one conglomerate: the Chearavanont family’s Charoen Pokphand Group, MQDC and Chinese partner Shanghai Kinghill Ltd, which has expertise in the retail business.
Shanghai Kinghill is a subsidiary of Chia Tai Group Co 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 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, to be situated on a four-rai plot near Lake Ratchada Office Complex on Ratchadaphisek Road, opposite Benjakiti Park.
Of the 10 projects MQDC planned for 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.