Bangkok--2 Apr--Bangkok Public Relations
- Magnolia Quality Development Corporation, aims to strengthen position as Thailand’s premier luxury property developer by partnering with Greenland Group, one of China’s largest real estate companies and Charoen Pokphand Group (CP Group)
Magnolia Quality Development Corporation Limited, one of Thailand’s leading luxury property developers, today, announced that it has signed a groundbreaking joint venture agreement with Greenland Group, a corporation that is ranked among China’s top-five largest real estate developers and Charoen Pokphand Group(CP Group), a leading Thai multinational conglomerate.
Ms. Tipaporn Chearavanont, CEO of Magnolia Quality Development Corporation Limited, said “Magnolia is making a major, strategic move by partnering with Greenland Group and Charoen Pokphand Group (CP Group). We aim to have our first project ready to announce during the first half of this year, and which will result in new investment.”
She said the alliance will further strengthen the position of Magnolia as one of Thailand’s top luxury real estate developers as well as result in new foreign investment in Thailand.
Greenland Group was established in 1992 as one of the largest state-owned enterprises in Shanghai and the leading of turnkey property developer in China. In the past 22 years, Greenland has engaged the philosophy “Greenland Create Better Life”. In 2013, Greenland ranked No. 2 in revenue in real estate industry in China and also listed at 359th in the place in Fortune Global 500 by revenues.
Greenland Group’s core business is to develop and manage real estate. In China, the company also has hundreds of projects on hand covering 29 provinces such as Shanghai, Beijing, Tianjin, Chongqing, Guangzhau, Nanjing, Hefei, Nanchange, Wuxi, Wuhan, Changsha, Zhengzhou,
Chengdu, Guiyang, Xi’an, Wulumushi, Shenyang, Changchun, and Harbin. Moreover, the company is regarded as the leading real estate company in both quantity of projects and quality of brand.
The company specializes in ultra-high-rise projects with 23 projects currently being built or completed. In addition, out of these 23 projects many are among the top ten highest buildings in the world. For instance, Nanjing Greenland Center ranks as the 7th highest business building in the world which is comprised of a five star hotel, office buildings, and luxury shopping malls. Also, the company has large city complex projects such as Shanghai Greenland Center, which includes office buildings, and is a centre for financial firms, and a leading 5 star hotel.
“We see enormous potential in Thailand’s luxury real estate development sector and are committed to being among the top players. We believe that global partnerships with some of the world’s largest and most successful real estate corporations will help to further strengthen our offerings in Thailand, reinforce Magnolia’s leading position, as well as stimulate Thailand’s real estate sector,” said Ms. Tipaporn.
(From left) Mr. Xu Jing, Executive Vice President of Greenland Holding Group;
Ms. Tipaporn Chearavanont, CEO of Magnolia Quality Development Corporation
Limited; Mr. Michael Ross, Representative from Charoen Pokphand Group
Greenland Group Headquarter
Nanjing Greenland Center 1
Nanjing Greenland Center 2
Shanghai Greenland Center