The Platinum Group officially unveiled The Market, a large retail complex situated in the center of Bangkok, as part of its plans to invest THB10 billion in the development of new mixed-use commercial projects throughout the city that align with the company’s goals, the Bangkok Post reported.
The Market will be situated next to Big C Rajdamri and across the street from the CentralWorld shopping complex. The project is expected to cost THB5.8 billion to build and The Market will open sometime in 2018.
“We have revised our corporate vision from being a leading operator and manager of a wholesale center for fashion products to a developer of property projects for commercial purposes, covering four major developments – shopping malls, hotels, office buildings and residential estates,” group president Chanchai Phansopha told the newspaper. “The new vision will be used for the next 10 years.”
Hotels will also play a big part of The Platinum Group’s plans outside of Bangkok. The company will invest THB1 billion to develop two new properties on Koh Samui, according to the Bangkok Post. Both will be Holiday Inn branded hotels and are going to be located on a ten-rai plot of land close to the group’s community mall, The Wharf. Both hotels are scheduled to open in 2018.
The group’s flagship business, The Platinum Fashion Mall, is now 10-years old and the company’s leadership confirmed to the newspaper that it is committed to continue running the facility. At the moment there is a 98 percent occupancy rate and income generation remains stable. The Platinum Group is also looking to expand in the area near the mall.
“We are, however, looking for new development opportunities, especially in potential locations that link to our strategic Pratunam location in Bangkok, such as on New Phetchaburi Road,” Chanchai said. “There are many new developments, especially for office buildings and residential units, within the area.”
