What Major Development Public Company does

Major Development Public Company Limited is a Thai luxury real estate developer founded on July 14, 1999 by the Poolvoralaks Family and listed on the Stock Exchange of Thailand under ticker MJD since 2007, with paid-up registered capital of 860.41 million baht. The company develops and sells high-end, ultra-luxury, and super-luxury condominiums, low-rise residences, townhomes, and resort properties primarily in Bangkok's prime CBD areas (Sukhumvit, Ploenchit, Sathorn, Riverside), with additional exposure in Hua Hin. Operated through a multi-brand portfolio strategy, MUNIQ targets ultra-luxury freehold condominiums, MARUE addresses super-luxury landmark developments, MARU focuses on modern pet-friendly high-rise product, MAVISTA covers penthouse and prestige village residences, Mayfield serves premium townhomes and single-detached homes, MANOR specializes in classic colonial riverside residences, and MARVEST offers resort condominiums. The company has developed over 31 projects with combined project value exceeding 38,000 million baht and transfer values exceeding 13,000 million baht across 18+ years. Revenue is generated through one-time unit sales on a pay-as-you-go billing cadence, with luxury unit pricing ranging from 3.95 million baht for entry-level MARU units to over 25 million baht for MUNIQ premium units, governed by project-specific pricing tiers. The go-to-market is sales-led, combining company-owned sales galleries at project sites, a registered freelance agent network (fn.mjd.co.th), exclusive launch events at luxury venues such as the Four Seasons Hotel Bangkok, and international investor partnerships including a joint venture with DWG (Singapore) for bulk purchases. The Poolvoralaks family maintains approximately 45% ownership and controls leadership, with Dr. Suriya Poolvoralaks as Managing Director and Mr. Chumroen Poolvoralaks as Chairman of the Board. The company has received the BCI Asia Top 10 Developer Award for three consecutive years and multiple Thailand Property Awards, including Best Ultra Luxury Condo Development (2017) for Marque Sukhumvit.

Name

Major Development Public Company

Legal name

Major Development Public Company Limited

Website

https://mjd.co.th

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Major Development Public Company Limited is a Bangkok-based luxury and ultra-luxury condominium developer, founded in 1999 and listed on the SET (MJD), serving high-net-worth individuals and foreign investors through a multi-brand portfolio of 31+ projects worth over 38 billion baht.

Ownership category

akta.pro rank

Product category

Luxury Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117)

SIC

Operative Builders (1531), Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

Keywords

• Luxury condominium development
• High-end residential properties
• Premium real estate developer
• Bangkok luxury housing
• Freehold condominium projects

Headquarters

HQ city

Saphan Sung

HQ country

Thailand

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Marketing or Sales, Personnel, Others

Revenue model

1. Residential Property Development: Core business of developing and selling high-end condominiums and residential properties in prime Bangkok locations, including luxury, ultra-luxury, and super-luxury segments.
2. Project Value Generation: Company has developed over 31 projects with combined project value exceeding 38,000 million baht and transfer values exceeding 13,000 million baht.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Major Development Public Company Limited is a Thai luxury real estate developer that designs, builds, and sells high-end, ultra-luxury, and super-luxury freehold condominium projects, townhomes, and detached residences in prime Bangkok locations. The company operates a multi-brand portfolio (including MARU, MUNIQ, MARQUE, Mayfield, MAVISTA, MARVEST, MANOR, and Mieler) targeting affluent domestic buyers and foreign investors, and complements its residential development with supporting services such as a freelance agent network platform.

Product overview

Major Development Public Company is a Thai real estate developer specializing in high-end residential condominiums and luxury homes. The company operates a multi-brand portfolio strategy across distinct market segments: MUNIQ for ultra-luxury freehold condominiums in prime CBD locations, MARQUE for landmark super-luxury developments, MARU for modern high-end condominiums with nature-focused facilities, MAVISTA for penthouse and prestige village residences, Mayfield for premium townhomes and detached homes, MARVEST for resort-style living in Hua Hin, and MANOR for classic colonial riverside residences. The company also maintains legacy projects including Hampton, Fullerton, WaterMark, Manhattan, WIND, Marrakesh, Royce, Collezio, EQUINOX, Mykonos, The Marvel Residence, and CHIC Home Office. Beyond property development, Major Development offers supporting services including a freelance agent network platform. The company was founded in 1999, listed on the Stock Exchange of Thailand (MJD), and has developed over 31 projects with total value exceeding 38,000 million Baht.

Differentiator

Problem solved

Functional benefit

Brands

• MARU: High-end condominium brand focusing on urban lifestyle with Pet Friendly & Wellness living concept
• MUNIQ
• MARQUE
• Mayfield
• Mayfield Lane
• Manor
• MAVISTA
• MARVEST
• Mieler

Products and services

• MARU CHULA High-rise high-end condominium near Chula University (Bantat Thong Road), with 27 floors and 219 units, positioned as a pet-friendly urban residence targeting young professionals and investors with entry-level luxury pricing starting from 3.95 million baht.
• MARU EKKAMAI 2 High-end condominium in the Ekkamai area of Bangkok, part of the MARU brand portfolio featuring modern design with nature-focused facilities and pet-friendly amenities.
• MUNIQ Charoen Krung Luxury freehold condominium on Charoen Krung Road in Bangkok designed in British Colonial Classic style with river views, 49 floors and 168 units, with project value of 4,200 million baht, co-developed with GS E&C of South Korea.
• MUNIQ Phrom Phong Luxury riverside condominium in the Phrom Phong area (Sukhumvit 39), 2-bedroom units starting at 15.99 million baht, with project value of 3,700 million baht and achieved 3,400 million baht in pre-sales within 2 months of launch.
• MUNIQ Sukhumvit 23 Luxury freehold condominium in the Asoke-Sukhumvit area (Sukhumvit 23), with project value of 2,800 million baht, positioned in Bangkok's high-appreciation CBD and designed in collaboration with international design partners Palmer & Turner, J&H BOIFFILS, and SHMA.
• MUNIQ Langsuan Freehold luxury condominium near Lumpini Park on Langsuan Road, valued at 4,085 million baht, with 2-bedroom units starting from 25.4 million baht; achieved 90% sales on first day of reservation.
• MARQUE Sukhumvit Super-luxury 222-meter tall landmark condominium project with 50 floors and 149 units, featuring diamond-inspired architecture and world-class amenities including a golf simulator, valued at over 7 billion baht.
• MARVEST Hua Hin One billion-baht luxury condominium project in Hua Hin designed in modern coastal style with tropical lagoon-style facilities, positioned as a resort-style residence in the heart of Hua Hin.
• MANOR Sanambinnam Classic Colonial inspired architectural riverside residence at Sanambinnam with timeless interiors and tropical landscape design as part of the MANOR brand.
• MAVISTA Phrom Phong Luxury residence on Sukhumvit 39 in the Phrom Phong area, part of the MAVISTA brand focusing on penthouse and prestige village concepts for super-luxury family living.
• MAVISTA Prestige Village 14-family exclusive super-luxury residences with modern Art Deco architecture designed for multi-generation families, part of the MAVISTA brand's ultra-luxury segment.
• Mieler Sukhumvit 40 Exclusive 24-unit private residence with private lift halls near BTS Thong Lo and Ekkamai stations, with 3-bedroom units starting at 17.29 million baht, positioned as a private living development.
• Mayfield Ramindra-Khubon Premium townhome project on the Ramindra-Khubon location designed for nature-integrated living experiences as part of the Mayfield brand portfolio.
• Mayfield Lane Ratchada-Ladprao Luxury single-detached home project in the Ratchada-Ladprao city center location, part of the Mayfield Lane brand designed for city center living.
• Mayfield Pinklao Premium townhome project in Pinklao designed for nature-integrated living experiences, part of the Mayfield brand portfolio.
• Freelance Agent Network Service platform (fn.mjd.co.th) for freelance agents to register and access Major Development project information and selling tools, enabling commission-based sales of Major Development's residential property portfolio.

Quantifiable outcome

• 90% sales on first day of reservation for MUNIQ Langsuan
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and major.

• GAYA Strategic Enterprise Corporation Pte. Ltd. (GS E&C)coreStrategic or Co-development Partner · 29 October 2024Joint venture partnership with GAYA Strategic Enterprise Corporation Pte. Ltd., a subsidiary of GS E&C from South Korea, to develop the luxury MUNIQ Charoen Krung project valued at 4,200 million baht. GS E&C is Korea's No.1 real estate developer and top 3 construction company. The project features British Colonial Classic design with river views.
• Koranit Construction Co., Ltd.majorImplementation/ SI/ Consulting Partner · 1 January 2018Construction partner overseeing MUNIQ Langsuan project construction. The 4,085 million baht luxury condominium project was constructed by this partner.
• Construction Partners (Various)majorImplementation/ SI/ Consulting PartnerMultiple construction partners involved in various projects including Pornphranakorn, Seafco Public Company Limited, Bewtech company limited, and others who participate in project inspections and construction oversight.
• Design Partners (Palmer & Turner, J&H BOIFFILS, SHMA)majorTechnology or IntegrationPartnerships with nationally renowned design firms including Palmer & Turner for architectural design, J&H BOIFFILS for interior design, and SHMA for landscape design of MUNIQ Sukhumvit 23 project.

Scale indicators14 records

Recent moves7 records

Expansion highlights8 records

Direct peers

• AP (Thailand) Public Company Limited: Major Thai residential property developer with luxury and premium condominium brands (The Address, RHYTHM) that overlap with Major Development's portfolio in Bangkok CBD locations. Listed on SET with comparable scale and investor profile.
• Raimon Land Public Company Limited: Thailand-based luxury and ultra-luxury condominium developer headquartered in Bangkok, focused on prime Sukhumvit and riverside locations. Most direct competitor to Major Development in the high-end Bangkok condo segment with similar target customer base of HNW Thai and foreign investors.
• Origin Property Public Company Limited: Thai developer with a strong luxury condominium portfolio including Knightsbridge and Notting Hill brands, competing in the same Bangkok prime CBD segments as Major Development. Comparable target buyer profile and pricing band.
• Sansiri Public Company Limited: One of Thailand's largest residential developers with a significant luxury and ultra-luxury condominium portfolio (e.g., 98 Wireless, Sindhorn Village). Operates a multi-brand strategy across price tiers and competes directly with Major Development's MUNIQ and MARQUE brands in Bangkok's prime CBDs.
• Noble Development Public Company Limited: Thai luxury residential developer focused on high-end and ultra-luxury condominiums in Bangkok's Sukhumvit corridor (Noble Ploenchit, Noble State 39). Direct competitor targeting the same HNW buyer demographic with similar pricing and design positioning.
• Ananda Development Public Company Limited: Major Thai residential developer with significant luxury and mid-market condominium exposure in Bangkok, including the Ashton brand that competes directly with MUNIQ and MARU. Comparable in scale and Bangkok CBD focus, with broader mid-market reach.

Regional players

• Asian Property Development Public Company Limited: Smaller Thai luxury condominium developer focused on premium Bangkok projects, comparable in size and niche to Major Development. Useful proxy for benchmarking smaller luxury-focused Thai residential developers.
• City Development Limited (Cityview): Singapore-based luxury residential developer with Bangkok projects targeting the same expatriate and foreign investor buyer pool as Major Development's international marketing efforts. Useful comparable for foreign-buyer demand dynamics.

Broad incumbents

• Singha Estate Public Company Limited: Diversified Thai real estate developer with residential, commercial, and hospitality projects including ultra-luxury Sinda Estates residences. Broader portfolio than Major Development but overlaps in the high-end residential segment.
• Supalai Public Company Limited: One of Thailand's largest and most established residential developers with a portfolio spanning luxury condos, townhomes, and single-family homes. Larger and more diversified than Major Development, but overlaps in the luxury Bangkok condominium segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCgAm_5E6Wpcq1S7ALdoQi-g
• Facebookfacebook.com/mjd.co.th
• Instagraminstagram.com/mjd.co.th

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Major Development Public Company