The members of the Thai Shopping Centres Association (TSCA) are ready to invest THB57 billion to increase their combined mall space. They are planning to push their space to over 9.1 million square meters by 2019, reports local media. These plans are part of TSCA’s Shopping Centre 4.0 strategy.
“TSCA members would invest alongside the government’s infrastructure projects in the major provinces and in the Eastern Economic Corridor (EEC) project. They would also announce many co-investment projects and giant shopping center projects that would become global landmarks and help spur the country’s economy. The TSCA is ready to help support local small and medium-sized enterprises (SMEs) and distribute income to provinces nationwide,” says TSCA President Wallaya Chirathivat to The Nation.
Central Pattana, Seacon Development, Siam Piwat Group, MBK, Rangsit Plaza, Siam Future Development, LH Mall & Hotel, The Platinum Group, KE Land, The Mall Group, Index Living Mall, Pacific Park Sriracha, and Boonthavorn Ceramics are the 13 shopping centre operators that make up the TSCA. They have a total of 97 shopping malls combined, but implemented Shopping Centre 4.0 to help them stay relevant. The group has adopted 3 strategies as part of the plan focusing on an omnichannel approach, customer-centric designs for future malls, and more targeted marketing which uses Big Data.
“The TSCA’s vision for this year is that together we will transform the retail industry into the era of ‘Shopping Centre 4.0’ to keep up with changing consumer lifestyles, aiming to grow by 4 to 5% in 2017 with 3 strategies,” says Wallaya.
The shopping centres under the TSCA will support government policies and promote large shopping districts in Bangkok and other cities in Thailand. This is expected to create landmark shopping areas that help spur the economy and tourism in the country.
“We will continue to invest in mega-projects to help push the economy and to establish new landmarks for Thailand. 2 mega-projects that will become Thai landmarks are expected to open in 2018 – Central Phuket and ICONSIAM. TSCA members have been united in embracing government policies that support countrywide development,” says Wallaya.
Feature Image via www.newswit.com
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