Property developer Magnolia Quality Development Corporation Ltd (MQDC) plans to generate residential projects for the over-50s in the mid- to lower-income segment, following a luxury project this year.
Thippaporn Ahriyavraromp, founder of MQDC, said the company had laid out a 10-year plan for developing residential projects for the elderly, starting with The Aspen Tree at The Forestias as its first project.
“Now is the time to embark on this plan,” she said. “We began with a luxury project as it provides resources for research, marketing, and creating the best model.”
Once the model is proven, MQDC plans to expand into the broader mid- and low-income segments, ultimately developing a social enterprise that brings together seniors and orphans, said Ms Thippaporn.
MQDC launched The Aspen Tree yesterday, a residential project designed as a holistic environment for independent living, targeting people aged over 50.
The project is equipped with flexible options for both sale and long-term rental to meet varying customer needs.
The Aspen Tree features 250 condos sized 82-120 square metres and 40 villas sized 183-201 sq m, along with a health and brain centre for seniors.
The average selling price is 360,000 baht per sq m, while rents start at 167,000 baht per month.
The Forestias is a mixed-use development spanning 398 rai on Bang Na-Trat KM7 Road, in Samut Prakan, comprising residential, commercial, and recreational components, including condos, villas, retail spaces, offices, a boutique hotel, and community facilities.
“The Forestias is designed to connect multiple generations within a single community, allowing residents to care for one another. With increasing life expectancy, it is now possible for up to four generations to live together,” Ms Thippaporn said.
The Forestias comprises Mulberry Grove, a cluster home project for large families; The Aspen Tree for single families or couples without children; and Whizdom, high-rise condos for younger generations.
“We believe separating seniors weakens their health compared with living in a family setting, while research shows children without grandparents at home perform worse academically, struggle in their careers, and face higher divorce rates,” said Ms Thippaporn.