“Major Development” has once again reaffirmed its strategic goals to become a ‘LifeScape Developer’ with its bold ‘LifeScape at a New Height’ 2023 business plan. The plan encompasses the ‘three-pronged business strategy scheme’ which includes soldifying its core real estate business, fortifying lifescape and petscape and diversifying revenue. It also premieres seven new residential and condominium projects with an all-time-high combined value of 14.7 billion baht. The new projects will account for the demands of various consumer segments, from luxurious condominiums to wellness-oriented residences to premium townhomes and more. A wide range of prime locations will also be available, from highly sought-after areas in the heart of Bangkok’s CBDs to easily accessible suburban neighbourhoods. New high-calibre executives have also been appointed to key positions to ensure a satisfied customer experience for all involved and to instil the ‘Warrior Mindset’ in the hearts of employees at all levels at the same time. The 2023 business plan will also detail the company’s aspiration and readiness for the era of digital transformation, as well as cement its status as the No. 1 real estate developer brand when it comes to pet-friendliness, ensuring pet-friendly, eco-friendly facilities in all of its residential projects. With such an impressive business plan in place, the company is confident of achieving solid and substantial growths in the years ahead, targeting 7 billion baht in sales and 5 billion baht in revenue in 2023 alone.
Ms. Petrada Poolvoraraks, CEO and Executive Director of Major Development Public Company Limited, Thailand’s leading developer of luxurious real estate and pet-friendly residences, stated that, “We remain committed to transforming ourselves from a real-estate developer to a ‘LifeScape Developer’, aspiring to improve quality of life for our customers in virtually all dimensions. Today, we announce the ‘LifeScape at a New Height’ 2023 business plan that aims to build on our strengths and potential to reach even new heights of business successes.”
Such a goal will be achieved through the ‘three-pronged business strategy scheme’ that includes the following:
- Solidify Residential-Scape: Strengthening capabilities of the company’s core businesses.
- Fortify LifeScape & PetScape: Emphasizing the strengths of all real-estate brands under the company.
- Diversify Revenue: Minimizing risks and maximizing opportunities through well-planned business and revenue diversification.
Solidify Residential-Scape
The company’s core real estate businesses will be strengthened through the unveiling of seven new projects valued at 14.7 billion baht in total, creating an all-time-high combined value of all projects launched in one year in the company’s 24-year history. Of these seven new projects, there will be two super-luxury high-rise condominiums valued at 8.8 billion baht, as well as five landed residential projects valued at 5.9 billion baht. At the same time, the following five new real estate brands covering various consumer segments will be launched.
- Marquis: Super-luxury condominiums with a focus on superb wellness and wellbeing.
- Mayfield: High-end premium townhomes that promote living in the embrace of nature.
- Mayfield Lane: Luxury landed residences in prime central locations.
- Milford: High-end, premium-quality townhomes
- Untitled brand soon to be announced: Super-luxury, limited-edition landed residences
Locations of the new projects offer a variety options, from prime CBD locations to extended CBD areas and to suburban neighbourhoods in Greater Bangkok. To name a few, the new projects will offer quality living in such highly sought-after areas of Bangkok as Phrom Pong Sukhumvit, Phayathai, Pattanakarn, Ladprao and Ramkamhaeng.
“During the downtime over the past few years, launches of new projects were refrained. But we never stopped developing. We took the opportunity to restructure our company in various dimensions to ensure that we will be ready for the imminent transformation into the digital age. Appointments have been made to put new high-calibre executives in key positions responsible for a thoroughly satisfying customer experience. Efforts have been made to instil in our employees the ‘Warrior Mindset’ mentality, preparing them for difficult circumstances. Investments have also been made to create a digital platform that will ensure our company transform efficiently and remain ready for whatever challenges the future will bring in the years ahead. With such a plan in place, we are confident that we will be able to reach even new heights of successes.”
Fortify LifeScape & PetScape
Under this scheme, the strengths of all real estate brands under the company will be emphasized. They include the company’s acclaimed status as the No. 1 developer of pet-friendly residences. Collaborations with prominent partners will also ensure high-quality crafted works in areas such as project designs and quality construction materials. The signature ‘Care-Share-Change’ initiative will aim to contribute to improving qualities of life for people in the society. Large-sized, super-efficient air purifying units will be installed in all of the company’s construction sites to ensure cleaner air quality for all. Specially designed pet bins have been installed in all projects. Efforts have also been made to provide help to pets in need under the care of various charities and foundations.
Diversify Revenue
Risks are minimized and opportunities are maximized through well-thought-out business and revenue diversification. Under the ‘LifeScape Developer’ vision, more horizontal projects and more new businesses will be created, with a primary aim to respond to the ever-changing lifestyle demands of HealthScape and TechScappe consumers.
Ms. Petrada explained further, “The overall Thai economy, as well as the Thai real estate industry, has seen noticeable signs of fast recovery especially from the tourism sector. This will undoubtedly add more purchasing power back to the people. I believe our ‘LifeScape at a New Height’ plan comes out just at the right time with launches of new projects with an all-time-high combined value. Besides, recurring income from our recovering hotel and office building businesses, as well as revenues from new businesses we are venturing into will contribute to ensuring solid and substantial business growths for Major Development. In 2023 alone, we are targeting 7 billion baht in sales and 5 billion baht in revenue.”
“We are determined to build a good future for everyone, alongside ensuring robust and sustainable business growths. In the long term, our business portfolios will be even more diversified between vertical and horizontal projects, gearing ourselves up for any challenges of the future. More exciting new projects will soon be announced, and many new non-real estate businesses will be explored. We hope to increase this proportion of our total business portfolios to 20% in the next five years.”, added Ms. Petrada.
Major Development Public Company Limited is one Thailand’s premier real estate developers. The company operates three business groups; namely, 1. Residential Projects for Sales, 2. Commercial Real Estate Projects such as hotels and office buildings, and 3. Real Estate-related Services. The company has a vision in generating steady business growth through luxurious real estate projects that comprehensively respond to ever-changing demands of consumers.
