Here's Why This Thai Real Estate Giant is Betting on India

MQDC is a property developer in Thailand and is the 32nd Thai company to come to India

By
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Even though co-working is still nascent in India, India has been embracing the shared space culture fast. According to a June 2019 report by JLL and FICCI, the co-working market share in office leasing space in the top seven cities of India increased from 8 per cent in FY2018 to 12 per cent in Q1 2019. Co-working spaces have changed the dynamics of working for Indian millennials. Traditional offices are no more a norm. The vibe of co-working spaces which promotes flexible working at affordable prices has gelled with today’s generation of workers.

Apart from WeWork, which came to India a little over two years ago, another real estate giant, Thailand-based Magnolia Quality Development Corporation (MQDC), launched co-working brand Whizdom Club in India in August. Entrepreneur India caught up with Chulamas (Amy) Jitpatima, director of MQDC India, at ‘Workplace Trends Conclave’ held recently at Hyatt Regency in Delhi.

Why MQDC Chose India to Start Global Endeavors?

MQDC is the 32nd Thai company to come to India. India is also the first country MQDC chose to start its global endeavors with. So what made the real giant choose India? “India, as a country, is very huge,” she says, adding, “It has a very young and dynamic population. We're entering the market because we see opportunity in terms of helping startups grow and being the gateway for them to the rest of southeast Asia.” Amy says India has a lot of unicorns and this move would help them support the startup journey of the nation.

What is Whizdom Club?

With big guns of the business ecosystem such as Paytm, Zomato and Twitter, among others, adopting co-working spaces, the market is becoming increasingly crowded and competitive. So what sets Whizdom Club apart from other players? She says, “All other players are doing a lot of great stuff in the market.” However, MQDC has a specific vision, she says, adding, “We have a brand vision and we hope to bring something new to the Indian market.” Amy says Whizdom club is an inspiration and ideation hub with co-working space as the business model.

She also added that apart from providing all amenities under one roof, Whizdom club also has several spaces including Whiz Live (an events area within the co-working place to hold social and business events), Whiz Around (an ideation space where startups can discuss and brainstorm ideas) and Whiz Den (literally, is the ‘grill zone’ where startups face criticism and are also provided mentorship), among others.

Deepening Indo-Thai Relations

According to Amy, the fundamentals of co-working spaces are same in India as well as in Thailand. The key difference between them lies in India being more focused on larger enterprises whereas Thailand is more focused on startups. She says, “India mainly targets managed spaces including larger floor plates, larger seats, larger take ups at once and less on individual seats and open spaces.”

Amy shares that MQDC is focused on stabilizing Whizdom Club in the coming months and opening more centers across Delhi-NCR and other metro cities. She also said the team is doing in-depth market analysis to recognize market opportunities that can be tapped into.

Latest

How This Clothing Designer Launched a Side Hustle Making Customizable Grazing Boards

The founder of ME'N'U Grazing LA shares her side hustle journey and her advice for anyone thinking about starting their own business.

Going Public Series Premiere, Watch and Click-to-Invest Now on Entrepreneur.com!

Get ready to watch the first of its kind show where viewers can invest in featured deals while they watch!

Delivering Hospitality to Online Audiences

Interview with Garry Kanfer (Kissaki Sushi) about digital marketing and delivering the restaurant experience to customers at home.

Why This Mom Entrepreneur Is All About Quarterly Planning

The founder of Hustle Like a Mom shares her tips for working moms trying to run a business between drop-off and pick-up.

Build A YouTube Following With Authentic Content

Interview with YouTube Star Sam Zien The Cooking Guy about growing his popular YouTube channel and restaurant empire.

This Celebrity Talent Manager Is Offering a 12-Step Online Course on the Business of Acting

Jamie Freed is known for discovering Selena Gomez and managing celebrities like Paris Hilton. Now he's helping actors learn about the business of acting through his 12-step online course.

Video: Random Act of Kindness at Dollar General Store Goes Viral

Cashier wins hearts with her display of compassion at an Illinois store.

This Entrepreneur's Charity-Driven Startup Was Acquired in Less Than 2 Months

The founder and CEO of CharityPops NFT talks about how his company gives back to charities and how his platform got acquired in under 60 days.

This Company Just Launched a Comprehensive Label for Measuring a Fashion Product's Impact on People and the Planet

While we're used to seeing nutrition labels on food, the founder and CEO of Nisolo says he created the sustainability facts label to protect people and the planet.

She Brought a Baby to the Boardroom While Asking for $1 Million. There's No Way That Worked...Right?

Would you dare to try the high-risk, high-reward strategy of bringing a small child to your investment pitch?

Want to Sell Better Through Your Online Store? You Might Be Overlooking This Important Aspect of Digital Marketing.

The founder and CEO of QMocha explains how his Shopify app will work with your existing product images.

This Mother and Entrepreneur Wrote a Book to Help Adults and Kids Learn About Their Microbiome

The founder of Seed Health and author of 'A Kids Book About Your Microbiome' shares why she's empowering each of us to see ourselves as superorganisms.

You've Got a Great Invention. Now How Do You Get People to Buy It?

It's a good idea to start a business by solving a problem, but make sure to consider who is actually paying for your solution.

How to Create Video Content People Will Actually Watch

The founder of Patrice Poltzer Creative shares video tips that will help you attract your audience and keep them engaged.

This Entrepreneur Maxed Out His Credit Cards to Build a Business That Helps Companies Protect their Data

The president and CEO of Data443 shares how his company secures and manages organizational data wherever it exists.

Discover Entrepreneur Series

Whether you need advice on how to get your business off the ground or you’re just looking for inspiration, our video series have something for everyone. Browse our library below to find a series that speaks to you and your interests.

  • An original series streaming weekly where you can Click-to-Invest while you watch. THEIR JOURNEY. Your decision.
  • Your favorite pitch show is back with new entrepreneurs pitching Entrepreneur's investors.
  • Host Nicole Walters interviews small business founders to discuss their unique challenges and experiences running and growing a business. 
  • Jessica Abo covers the causes people care about, the powerful work they do and how they got to where they are in the first place.
  • Bestselling author, Ben Angel, takes his audience on a journey into the entrepreneurial mind to uncover why we do what we do through his powerful short films and educational videos so you can unleash your ideas and potential.
  • Watch our staff interview top entrepreneurs and report on location in these Entrepreneur.com exclusive videos.