Thailand based Magnolia Quality Development Corporation (MQDC) is reportedly entering the Indian real estate market. An official of MQDC reported that the company is going to start its first co-working centre in Delhi. The company is said to lease 22,000 sq. Ft. from DLF in Delhi.
MQDC invests, develops and manages residential, comheaven1525
mercial, mixed-use and hotel projects. The company owns brands such as Whizdom, Mulberry Grove, Magnolias and The Aspen Tree and develops projects under these brands.
Chulamas Jitpatima (Amy), India Real Estate Director of MQDC, said, “We are entering into Indian real estate market with our first co-working centre named ‘Whizdom Club’ at Greater Kailash-II in South Delhi. We have taken 22,000 sq ft area from DLF to open this facility comprising over 400 seats.”
Amy said that the company has already started setting up c0-working centre and has invested Rs 12 crore into it. She added, “We are targeting students, start-ups and small and medium enterprises as well as corporates.”
The company is planning to offer discounts to start-ups and students and is yet to finalize the price per seat.
Amy said “With the launch of ‘Whizdom Club’, we aspire to create a space that not only hosts creativity and ideas but also nurtures and supports all members for a better tomorrow. This innovative space will aim to provide a co-working hub that will help corporations, rising entrepreneurs, aspiring students, and SMEs (small and medium enterprises) to meet their business and networking goals in an inspiring environment.”
Krissayuth Chavavitayatham, Vice-President (Whizdom Society) of MQDC said, “Delhi is our first location as the city offers demographic diversity, besides being the fastest-growing metropolitan city with a robust ecosystem and a thriving business culture.”
Because of the rising demand from start-ups, professionals and corporates of flexible workspace, India has witnessed a rapid growth in co-working segment in the past few years. The whole place of such workspace across seven cities has reached 23 million sq. Ft.