According to MQDC or Magnolia Quality Development Corporation Ltd, a company that specializes in property development, whichis owned by the Chearavanont family, they are thinking about launching a project that will be used for various purposes. The concept will follow after the smart city and they will be releasing it in the provinces of Thailand as well as in China within the next few years. This is great news for the country as construction boom continues despite the existence of many establishments such as a 4 star boutique hotel in Sukhumvit that is flocked by many local guests and tourists.
SutthaRuengchaipaiboon, the president of the company, said that the firm is currently brainstorming about new locations that are plausible in the north and west of Bangkok. This is where the mixed-use project will be constructed that will embody their concept of a smart city wherein they will utilize clean energy. This will be their starting point before they release the same concept in provinces of Thailand and eventually overseas.
He added that in order for them to create a property for their smart city project, it is important to have good infrastructure. They are also looking into cities that are located in the main provinces of Thailand such as Chiang Mai and Phuket because of their potential.
The firm is also thinking about expanding their smart city project overseas and they are eyeing China because of the local connections that Charoen Pokphand Group have in the country. CP Group is also known to be owned by Chearavanont family and it specialized in agribusiness.
As of the moment, the MQDC is building their smart concept on a project called Whizdom 101 which is a development dedicated as a mixed-use establishment. The investment they have poured into this project is 30 billion baht and it is found around Sukhumvit.
Aside from the 4 star boutique hotel in Sukhumvit, tourists will now have additional reason to visit the capital city of Thailand. According to MQDC, the project will have three condominium buildings and most of them have already been sold.