Major Development Public Company Limited is a Thailand property developer, primarily of condominiums for the luxury market, plus some townhouse and detached home projects as well as commercial real estate. Most developments are located in Bangkok, with a few in Pattaya and Hua Hin. The company was founded by the Poolvoralaks family in 1999, went public in 2005, and was listed on the Stock Exchange of Thailand in 2007.
Major Development’s current condominium brands are Maestro, Muniq, Maru, Metris, Maestro, M, Marque and Manor. Older brands include Chic District, Fullerton, Hampton, Wind, Royce, Collezio, Reflection and The Marvel. Since 2002, Major Development has launched more than 29 residential condominium projects, two resorts in Pattaya and Hua Hin, a commercial building / home office project, an office tower and a community shopping mall. Eleven condominium projects are scheduled to open in 2018 and beyond.
Major Development has received numerous industry awards for its projects, including 2017 Thailand Property Awards for “Best Ultra Luxury Condo Development (Bangkok)” and “Best Condo Development (Thailand)” for MARQUE Sukhumvit, and Think of Living.com People's Choice Thailand 2016 “Editor’s Choice” Award for MUNIQ Sukhumvit 23.
Company Executive Directors are:
- Mr. Chumroen Poolvoralaks, Chairman of the Board of Directors
- Mrs. Prathin Poolvoralaks, Vice Chairman of the Board of Directors
- Mr. Suriyon Poolvoralaks, Chief Executive Officer
- Dr. Suriya Poolvoralaks, Managing Director
- Ms. Petrada Poolvoralaks
- Mrs. Jitradee Poolvoralaks
At the end of 2017, total company assets were THB 19.633 billion, compared with THB 15.895 billion in 2016. Total revenues were THB 3.375 billion, a 37.6 percent decrease from THB 5.406 billion in 2016, due largely to a delay in transfer of the Marque project. Condominium sales totaled THB 2.782 billion in 2017. Accordingly, 2017 showed a net loss of THB 1.839 million, versus a net profit of THB 411.8 million in 2016. In 2018, TRIS Rating assigned Major Development PCL a rating of BB+ / Stable,
Primary company shareholders are:
- Poolvoralaks family (Ms Prathin Poolvoralaks, Mr. Somveing Poolvoralaks, Mr. Suriyon Poolvoralaks, Mr. Suriya Poolvoralaks, Ms Petrada Poolvoralaks, Ms Jitradee Poolvoralaks, Ms Prathin Poolvoralaks), 65.1%
- Mr. Noppadol Khemayothin, 6.97%
- Mr. Suthon Singhasitthangkul, 3.02%
- Ms Rattana Maleenont, 2.32%
Address:141 Sukhumvit Soi 63, Bangkok 10110. For more information:
- Telephone: (+66) 2030 1111 (in Thailand, call 1266)
- Fax: (+66) 2030 1122
- Web site: www.majordevelopment.co.th
- Facebook: Major Development PCL
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