Future Park Rangsit is set to be transformed from a shopping complex to a satellite town. Rangsit Plaza, the company that operates the current facility, has earmarked a budget of THB100 billion to complete the development over the next 10 years.
The complex will be known as Future City when it is finished and will include the already completed Future Park Rangsit, which was the first phase of the project. The finished development will include a hotel, residential condominiums, serviced apartments, office buildings, retail shops and other facilities spread over 600 rai.
The next phase of the project will see a 200-room hotel built in near Future Park Rangsit. The hotel is in the process of an environmental impact assessment and the company hopes construction on the project can begin in 2016.
“We see opportunities for the hotel because Future Park customers are both local and foreign tourists,” said Rangsit Plaza chief executive Pimpaka Wanglee. “The project is only seven kilometers from Don Mueang airport and can serve visitors to nearby destinations such as Ayutthaya.”
Zpell@Future Park Rangsit is the latest retail space to open at the site. Rangsit Plaza spent THB4 billion baht in developing the addition to the shopping center as it aims to serve new markets and urban customers with high purchasing power. Its opening makes Future Park Rangsit the largest retail complex in Thailand.
Nearly 95 percent of retail space at the new retail center has already been booked. When full operations begin in January, it will host 200 retail shops along with 40 restaurants. Zpell will hold its soft opening this month with a majority of shops opening their doors soon. The entire Future Park Rangsit complex will contain 1,200 retail shops after Zpell opens.
