BANGKOK — Siam Commercial Bank (SCB) has committed 22 billion baht ($678 million) in project financing to support The Forestias, Thailand’s largest real estate development, as the project races toward completion of its residential zone by 2026.
The massive loan represents a significant vote of confidence in Magnolia Quality Development Corporation Limited (MQDC)’s ambitious vision to create what it calls a “model city for sustainability” on 157 acres along Bangna-Trad KM7.
Forest Meets City Concept
The Forestias has garnered attention for its “Forest in the City” concept, which MQDC says aligns with all 17 United Nations Sustainable Development Goals. The development combines residential buildings with extensive natural ecosystems, aiming to reduce carbon emissions while creating what developers describe as a harmonious community for both humans and nature.
“The district has been developed under the concept of ‘sustainnovation’ combining innovation with sustainability,” said Thippaporn Ahriyavraromp, MQDC’s founder. She emphasized the project’s focus on bringing forest into urban areas, using clean energy, and reducing environmental impact.
Construction Accelerates
MQDC CEO Suttha Ruengchaiphaiboon revealed that construction is already 70% complete, with SCB’s financing enabling the company to maintain its 2026 completion timeline. The loan will specifically support the residential portion of the sprawling development.
The project encompasses multiple residential options, from completed condominium buildings like Whizdom The Forestias Petopia and Mytopia to upcoming projects including Six Senses Residences—the luxury brand’s first residential project in Southeast Asia.
Banking on Sustainability
For SCBX PCL, the parent company of SCB, the investment aligns with broader goals of supporting Thailand’s transition to a low-carbon economy. SCBX CEO Arthid Nanthawithaya noted that the bank has supported The Forestias “from its inception,” viewing it as an example of how Thai real estate can reach global standards through environmental innovation.
SCB CEO Kris Chantanotoke called The Forestias “an outstanding real estate development” that goes beyond concept to deliver “tangible results,” positioning it as a benchmark for sustainable urban development in Southeast Asia.
Mixed-Use Vision
Beyond residential towers and villas, The Forestias will feature a comprehensive mixed-use environment including a 6-star boutique hotel, business district, cinema, restaurants, offices, and an innovation building. Plans also include a museum and learning center integrated with the site’s natural ecosystems.
The development represents a significant test of whether large-scale sustainable urban projects can attract both financing and residents in Thailand’s competitive real estate market, with completion targeted for next year.
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