A total of THB20 billion will be invested by TCC Land Asset World on the construction and renovation of its shopping malls in the next 3 years, reports local media. The company’s Asiatique and Gateway retail complexes are among the projects set for expansion under the plan.
THB6 billion has been set aside for an extension of its Asiatique The Riverfront complex in the Charoenkrung area of Bangkok. A hotel and shopping centre will be added to the development with both expected to be completed by the end of 2020, says Napat Charoenkul, Managing Director of Retail Group at TCC Land Asset World, to the Bangkok Post. A new THB150 million waterfront feature will also be built to celebrate the complex’s 5th anniversary.
The company will launch a pair of new Asiatique projects, Asiatique The Riverfront Chiang Mai and Asiatique The Riverfront Pattaya, as it looks to expand its presence in provinces outside Bangkok. The budget for each project will be set at THB3 billion and the company hopes to launch these within the next 3 to 4 years.
TCC Land Asset World will rebrand a mall in Bang Sue under its Gateway brand. It will also build a new Gateway mall in Thon Buri as it looks to serve the growing number of people living in this area. There are plans for the company to launch a new shopping centre brand next year as well.
“Around the first quarter of 2018, the company will launch a new shopping mall brand called Avenue. The first branch will be established in Soi Lasalle, and will feature a supermarket, restaurants, and easy access service. One highlight of the centre is the first launch of Uniqlo Road Site in Thailand. The company also plans to continually expand the development of the shopping complex under the Avenue brand for the next three years from now,” says Napat.
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