MBK isn’t just a shopping mall in the heart of Bangkok. The company will invest THB6.5 billion to expand its housing business over the next two years as well as improve its retail holdings, The Nation reported. MBK is also gearing up to open more of its popular sukiyaki restaurants in Bangkok during this time.
Chief executive Suvait Theeravachirakul told the newspaper that THB1 billion of this budget will fund the development of two housing projects, Park Riverdale (pictured) and Riverdale, in the Bangkadi district of Pathum Thani, The Nation added. A low-rise condominium at the Nines shopping complex on Rama IX Road will also be built by MBK.
Another THB 2.5 billion is being budgeted for the ongoing construction of two housing projects as well as a condo project currently being built. MBK’s plans also revealed that it intends to develop a new high-rise condominium on Sukhumvit Soi 101.
The company will utilize an array of different marketing activities to drive sales including leveraging social media to reach consumers with the same lifestyle and interests MBK is promoting. Tentative plans for marketing roadshows held in Asean countries are also in place to help encourage sales for its housing projects.
On the retail side of the business, a new facade at the MBK shopping mall along with a skywalk will be constructed and another THB2 billion will be spent on improvements at the mall, The Nation noted. The company has no intentions on expanded its hotel portfolio in the short term despite the success of its properties since the end of last year. Pathumwan Princess Hotel and Dusit Krabi Hotel are both owned by MBK.
“We will maintain consistent business growth by stressing the three business units of shopping, food and real estate,” Suvait stated. “These three areas are the most profitable for MBK and have shown growth despite the poor economic conditions in Thailand.”
