WHAT IS THE TIMETABLE FOR THE MT PROJECT?
MT PROJECT TIMETABLE
The MT project will be implemented in three phases
1. STRATEGIC PLANNING PHASE
Strategic planning is currently underway and will take approximately 24 months to complete. This phase entails the development of the “blueprint” or action plan for MT and includes the creation of partnerships between GCD and top-tier Japanese architectural/urban planning, PR, marketing and media firms, and premier Thai construction companies. During the critical first phase, GCD is collaborating with the Governments of Thailand and Japan to coordinate and facilitate the proposed migration of 30,000 or more Japanese retirees both from Japan and around the globe who will be employed with Japanese companies or agencies invested in Thailand or in the AEC. This phase also entails a restructuring and managing of new hiring mechanisms, as well as government deregulations which will enhance and facilitate the successful implementation of the project. Pre-sales of apartment leases and office space will begin during Phase 1.
The construction of MT is divided into four phases and each phase will last for 18 months. It will involve the construction of accommodations and facilities for our 30,000-plus resident retirees, green MNCs, and businesses that will provide services to the residents of the city. This will include apartment buildings, (20 or more), extensive commercial space, hospitals and clinics, department stores, training, recruitment and R&D centers, supermarkets, restaurants and other facilities that will enhance the quality of life for our residents and clients. Gross revenues from the lease of apartments alone are expected to be more than 2 billion US dollars.
In addition, MT will also have a Japanese-style hotel for residents’ guests, man-made indoor and outdoor hot springs (onsen), a recreation park, sakura garden, natural lake, and a nine-hole golf course that will be constructed according to the “Eco-Sustainable Golf Course Guidlelines” for non-polluting and water-and energy-conserving courses developed by ECOCERT, a global inspection and certification body based in France. GCD will also seek certification from the global “gold standard” for green buildings, LEED (Leadership in Energy and Environmental Design), administered by the US Green Building Council. And the core area of MT will be a car-free zone with low-impact electric transport for swift and easy local access for residents.
Construction of MT will begin in 2017 and will take 4 to 5 years to be fully realized, but businesses that will hire and/or provide services to the residents will begin moving in first, and the initial group of residents will begin to move in around 2019, when the first housing units are completed and the businesses have been established. The rest of the residents will continue to move in while the remaining residential units are being completed. Full construction of the city and all its facilities should be completed by the end of 2021/beginning of 2022.
The transmigration of 30,000 or so people from Japan to Thailand will involve the carefully coordinated efforts of GCD, the Japanese and Thai Governments, and participating employers. Arrangements will be made for prospective Japanese clients to visit and inspect MT while it is being constructed. GCD will have paved the way for Japanese residents to make as seamless a transition as possible by implementing deregulation when necessary and coordinating the movement of people, money, goods, and information across national borders.
Pre-sale of long term residential leases will start in Q1 of 2017 and the mobilization stage for the first phase starts from June 2018, and onward after every 1.5 years. Around the beginning of the 2nd phase, GCD also plans to offer its shares to the public in IPOs both in the Tokyo Stock Exchange and the Stock Exchange of Thailand (SET).
A key element in the plan is to create a socially and environmentally sustainable city where the residents will “govern” themselves in collaboration with GCD and an outside management firm (much in the same way that condominiums and cooperative buildings are governed) and generate an independent and self-sufficient economy. A modest but significant portion of GCD’s profits from MT will be turned over to the residents to provide a solid foundation for this self-governing community.