Property developer Sansiri has expand its business portfolio into the community retail business with the unveiling of ‘Habito: The Heart of Good Living’, new-concept community retail project.
This latest venture (pictured) is anticipated to contribute to an even better quality of life for people living in the expansive network of trendy residential and retail developments on Sukhumvit 77 road. The new project has been co-created between Sansiri and Winkreative, a world-renowned creative agency to establish a ground-breaking community retail project offering what the marketing statements says will be “feel-good lifestyle from morning until night” to everyone.
Apichart Chutrakul, Chief Executive Officer and Chairman of the Executive Board, Sansiri, said: “After our great success in branching out to the hotel business last year, we are pleased to announce that Sansiri is now ready to venture into another exciting business – the community retail business.
“We believe that this new area of business can go a long way in supporting our core property development business.
“We have allocated an investment budget of THB320 million to establish this business and we anticipate to generate approximately THB40 million in revenue per year from the rental of commercial spaces at the rate of between THB750 to THB1,500 per sqm.”
Apichart further noted: “We believe that Sukhumvit 77 locations that are close to BTS Skytrain stations will continue to rise in both value and popularity, and, together, they will eventually develop into a major new preferred residential area in Bangkok in foreseeable future.”
‘Habito’ will be a 10,000-sqm community retail project located on a prime 4-rai land plot of T77, comprising 32 stores with sizes ranging from 35 sqm to 700 sqm. The commercial spaces have been designed to be suitable for a wide range of businesses from restaurants to café, beauty salons, drugstores, as well as, co-working spaces.
Construction started last month and the official opening is planned to take place in November 2015.
Entrepreneurs interested in becoming part of the project can find out at the “Sansiri Life Comes Home” event at Royal Paragon Hall, 5th Floor, Siam Paragon, between October 10 and October 12, or they can call 02-257-0499.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
