Thailand’s Central Group is aiming to make a dramatic change to the luxury retail landscape in Bangkok with the THB18 billion launch of its Central Embassy shopping destination next month.
What is described by the company as being an iconic retail landmark will offer more than 200 high-end branded retail outlets in the centre of the Thai capital on land it purchased from the British Embassy.
Chart Chirathivat, Managing Director of Central Embassy, said Central Group acquired the 9-rai land plot on the Wireless and Ploenchit junction in 2006, and now seven years later the project is ready for launch on May 8.
He said: “Building a world-class project like Central Embassy, takes time and dedication.” He added that investment in the project is the highest per sqm in the history of Thailand’s retail sector.
“It is expected that after launch the number of customers will be between 5,000 and 6,000 per day, with 50 percent being foreigners from around the world,” he added.
Chart also confirmed his company will invest more than THB100 million in the Grand Opening ceremony next month, and will maintain momentum with a THB200 million budget to create signature Central Embassy events throughout the year.
Andrew Batt, International Group Editor of PropertyGuru Group,
wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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