Thailand-based leading realty firm Magnolia Quality Development Corporation (MQDC) will soon open its second co-working centre in India and has taken on lease 42,000 square feet of office space in Gurugram.
MQDC already has one co-working facility in South Delhi and is opening its second facility, 'Whizdom Club India, at Golf Course Road, Gurugram, next month.
The upcoming centre is located at 'Tapasya One', a LEED Gold-rated building.
The centre will have a seating capacity of over 450 and is designed to cater to the diverse needs of working professionals, corporations, and startups in the NCR region.
Commenting on the expansion, Chulamas Jitpatima (Amy), Country Director, MQDC India, said, “In 2019, we launched Whizdom Club in South Delhi with the aim to transform India’s co-working segment with inventive facilities and services for students, young professionals, entrepreneurs, and enterprises."
Since the inception of its operations, she said the company has identified significant growth opportunities and is deeply committed to expansion and diversification in India.
"Following the Gurugram launch, we are exploring the development of additional intra-city centres and evaluating various asset classes for large-scale property developments," she added.
Despite recent challenges due to Covid, MQDC said the industry is witnessing a resurgence, offering high returns on investments and additional income opportunities. As economic activities rebound and the workforce returns to offices, the demand for commercial real estate is on the rise, it added.
MQDC, an international property developer spread across India, China, and Thailand, is a subsidiary of DTGO, a business-social organization founded in 1993.