NovMajor Development
Major Development has a relatively long documented corporate history. The company was established on 14 July 1999 and has traded on the Stock Exchange of Thailand under ticker MJD since 27 November 2007. SET describes the group as primarily engaged in property development for sale and hotel operations, with a focus on high-end residential condominiums and luxury-oriented housing. For a buyer, the practical advantage of dealing with a listed developer is access to financial statements and corporate disclosures outside the sales process; listing status itself is not a guarantee that a particular project will be completed or transferred on the promised terms.
A company name is not a recommendation. Check the project company, contract and selected unit before reservation.
Overview
Major Development has a relatively long documented corporate history. The company was established on 14 July 1999 and has traded on the Stock Exchange of Thailand under ticker MJD since 27 November 2007. SET describes the group as primarily engaged in property development for sale and hotel operations, with a focus on high-end residential condominiums and luxury-oriented housing. For a buyer, the practical advantage of dealing with a listed developer is access to financial statements and corporate disclosures outside the sales process; listing status itself is not a guarantee that a particular project will be completed or transferred on the promised terms.
Track record
The company's first condominium, Hampton Thonglor 10, dates back to 2002; Major Development's annual report describes it as a 73-unit, 30-storey project. The business subsequently expanded beyond high-rise condominiums into low-rise housing and private residences. Recent official materials reference developments including Metris Pattanakarn–Ekkamai, Metris District Ladprao, Muniq Phrom Phong, Malton Gates Krungthep Kreetha and Marquis Phayathai. Major also announced projects with Japanese partners MORI TRUST and TAKARA LEBEN in 2025. This gives buyers a meaningful operating history to examine, but the parent company's track record should not be treated as a substitute for checking the legal entity and contractual structure behind the specific development being purchased.
Segments and prices
Major Development now spans a much broader price ladder than its high-end reputation alone suggests. In August 2026, official project pages advertised Metris District Ladprao from THB 3.2 million, one-bedroom units at Marquis Phayathai from THB 7.89 million and two-bedroom units from THB 16 million, Malton Gates Krungthep Kreetha from THB 39.9 million, and the remaining Malton Private Residences Ari home at THB 72 million. These figures illustrate the range from urban condominiums to very high-value private residences, but they are specific to the project promotional prices rather than a developer-wide price schedule. A buyer should obtain a written quotation for the exact unit, including specification, incentives, transfer-stage charges and promotion validity.
Geography
The current pipeline is heavily concentrated in Bangkok, with Major Development marketing properties across areas such as Lat Phrao, Phaya Thai, Thonglor–Ekkamai, Pattanakarn, Krungthep Kreetha and Ari. The developer's history is not exclusively Bangkok-based: its official materials also include Reflection Jomtien Beach Pattaya in Chonburi. For a buyer, the more useful question is therefore not simply where the brand operates, but how the exact site performs in terms of transport access, surrounding development and demand for that particular housing format.
Reliability and public record
MJD's listed-company status provides buyers with a substantial amount of independently accessible information, including audited accounts and reviewed interim filings; Thailand's SEC registry contains the group's Q2 2026 financial statements. The financial picture nevertheless deserves close attention. Documents for the 2026 annual general meeting show 2025 group revenue of approximately THB 2.201 billion, a loss of about THB 2.111 billion and total liabilities of roughly THB 12.681 billion. The latest TRIS item located during this review, dated 27 November 2025, downgraded MJD's company rating to B+ with a negative outlook. None of these figures proves that an individual completed or off-plan development will encounter difficulties, but they make project-level financing, contractual protection and counterparty checks particularly relevant for an early-stage purchase.
What to verify
Due diligence on a Major Development purchase should follow the transaction structure rather than stopping at the parent brand. Check the seller named in the contract and establish whether the project company is an MJD subsidiary or a joint venture; Major has announced developments with external partners, so the parent's role and any obligations it assumes should be documented rather than inferred. For an off-plan purchase, review the land position, applicable permits, actual construction progress, contractual completion date, payment schedule and refund or termination provisions. For a completed condominium, obtain written confirmation that the selected unit can be transferred to the intended foreign buyer, together with the required payment and registration documents and a full transfer-cost statement. Pet rules also deserve a building-specific check: Major actively promotes its Pet Family positioning, but permitted animals, numbers, common-area access and any charges are governed by the rules applicable to the particular property. Given the group's recent financial results, buyers should also know exactly which entity receives their money and what contractual remedies apply if delivery moves beyond the agreed timetable.
Projects in the NovAsia catalogue
This list is assembled from the project registry by the developer identifier; it is not a claim of a complete corporate portfolio.
ThailandMARQUIS Phayathai
ThailandMetris Pattanakarn–Ekkamai
ThailandMUNIQ Charoen Krung
Frequently asked questions
Is Major Development a listed company?
Yes. Major Development Public Company Limited has been listed on the Stock Exchange of Thailand under ticker MJD since 27 November 2007. This provides a useful disclosure trail, but public-company status is not a substitute for reviewing the particular project and sale contract.
Does Major Development only build luxury condominiums?
No. High-end condominiums remain an important part of the company's identity, but its current range also includes more accessible Metris projects and low-rise luxury homes. In August 2026, Metris District Ladprao was advertised from THB 3.2 million, while selected Malton residences were priced in the tens of millions of baht.
Are pets allowed in every Major Development project?
Pet-friendly living is a central part of Major Development's current brand positioning. Buyers should still obtain the actual rules for the building they are considering, because permitted species, size or number limits, common-area access and charges may be specific to the project.
Should a buyer consider MJD's financial position?
Yes, particularly for an off-plan purchase where the buyer remains exposed between reservation and completion. The group reported a substantial loss for 2025, and TRIS downgraded its company rating to B+ with a negative outlook in November 2025. That is not an automatic verdict on every Major project, but it increases the importance of checking the project entity, construction status, payment flow and contractual remedies.
Can buyers rely on the advertised starting price?
Treat it as an entry-budget indicator rather than the final acquisition cost. A 'from' price may apply to a particular unit or promotion and does not necessarily reflect the floor, view, layout, specification or transfer-stage costs a buyer actually wants. Request a written unit-specific quotation before paying a reservation fee.
Sources
Sources are named for independent checking. NovAsia does not publish outbound links.
- Stock Exchange of Thailand · Major Development Public Company Limited — MJD Factsheet · 24.08.2026
- Major Development Public Company Limited · Major Development Annual Report 2024 — company history and segment development · 24.08.2026
- Major Development Public Company Limited · 2026 Annual General Meeting Notice — 2025 financial results · 24.08.2026
- Securities and Exchange Commission, Thailand · Major Development Financial Statements — disclosure registry · 24.08.2026
- Major Development Public Company Limited · Major Development Project Portfolio · 24.08.2026
- Major Development Public Company Limited · About Major Development — Pet Family positioning and company profile · 24.08.2026
- Major Development Public Company Limited · Metris District Ladprao — official project page and current offer · 24.08.2026
- Major Development Public Company Limited · Marquis Phayathai — official project page and pricing · 24.08.2026
- Major Development Public Company Limited · Malton Gates Krungthep Kreetha — official project page · 24.08.2026
- Major Development Public Company Limited · Malton Private Residences Ari — official project page · 24.08.2026
- SETTRADE / TRIS Rating · TRIS Rating: MJD company rating downgraded to B+ with negative outlook, 27 November 2025 · 24.08.2026
- Major Development Public Company Limited · Major Development: Prime Locations — 2025 projects and partnerships · 24.08.2026