Magnolia Quality Development Corp., one of Thailand’s leading luxury property developers has announced that it is teaming up with Chinese construction giant the Greenland Group and the Charoen Pokphand Group (CP Group), a leading Thai multinational conglomerate, to launch several joint-venture real estate developments in the Kingdom over the coming years.
Tipaporn Chearavanont, CEO of Magnolia, said the alliance would further strengthen the position of her company as one of Thailand’s top luxury real estate developers as well as result in new foreign investment in Thailand.
(From left) Xu Jing, Executive Vice President of Greenland Holding Group, Tipaporn Chearavanont, CEO of Magnolia Quality Development Corporation, and Michael Ross, representative from Charoen Pokphand Group pose for a photo during the joint venture signing ceremony.
“Magnolia is making a major, strategic move by partnering with Greenland Group and Charoen Pokphand Group (CP Group). 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 and we aim to have our first project ready to announce during the first half of this year,” said Ms. Tipaporn.
The Greenland Group is the leading turnkey property developer in China. In the past 22 years the company has developed hundreds of projects in 29 provinces and specializes in ultra-high-rise projects, some of them being among the tallest buildings in the world.
The 636 meter Wuhan Greenland Center will be one of the world’s tallest buildings when completed in 2017.