Anticipating a surge in purchasing power in view of the Asean Economic Community in 2016, Platinum Fashion Mall Group has allocated THB15 million to develop three new retail projects, reported Bangkok Post.
According to Executive Vice-President Pongsak Anantawannakul, the company will spend THB5 million for its first project dubbed The Market by Platinum, located beside the Big C Supercenter in Ratchadamri.
Sited on a 21-rai plot, the project will run from October this year through 2016. It will cover 200,000 sq m, inclusive of 50,000 for retail space and ample car-park spaces.
“The Market by Platinum will be a good place for shoppers to buy products or souvenirs similar to Chatuchak Weekend Market and the former Suan Lum Night Bazaar,” noted Pongsak.
The complex will accommodate a total of 300 tenants catering food, services, souvenirs and a night market. Space bookings will commence in October.
Pongsak added that the company plans to spend THB400 million to develop Bangkok Skyline, a walkway connecting the new mall to Gaysorn Plaza, Anoma Hotel, Big C and Pratunam Pier.
Meanwhile, a feasibility study is being conducted for the two other malls. The one in Bangkok will be developed under a new retail shopping concept while another upcountry project in Pratunam will be based on The Platinum Fashion Mall concept.
Aside from that, Platinum also eyes to refurbish The Platinum Fashion Mall for around THB200 million.
Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg
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