Sansiri recently opened its much anticipated Japanese lifestyle mall, Habito, in Bangkok’s rapidly growing On Nut neighborhood. The developer has a vested interest in the area as it has 5,000 units spread across six residential projects nearby.
And this move may not be the last as Sansiri told local media that it is interested in building more retail and hospitality projects in areas where it has or can build multiple residential developments. Sansiri’s senior executive vice-president Uthai Uthaisangsuk said that retail projects will only be considered in areas that are big enough to house at least three residential projects
Uthai added that the group has the abilities to expand its retail business during the next few years, but will wait until it gets feedback from Habito before proceeding with any more projects. The Japanese-style mall cost THB400 million to build and the three-story complex hosts 32 retail outlets along with a creative and design working space. Most of the retail outlets are restaurants or lifestyle orientated.
The developer has high hopes for Habito and believes the project will be popular with Sansiri residents as well as others living in the area. There are a total of six Sansiri residential projects close to the mall. These are Blocs 77, The Base Sukhumvit 77, The Base Parkwest, The Base Parkeast, Hasu Haus and Garden Square.
Early returns have been good with 90 percent of retail space already booked and several outlets having held soft openings in recent weeks. The developer believes all retailers will be open for business before the end of August. Sansiri estimates that the mall will generate THB400 million in income annually with 5,000 visitors expected to visit it each day.
In addition to residential and retail projects, Sansiri also operates hotels in Hua Hin and Khao Yai. The developer has two additional plots of land in Chiang Mai and Phuket and it is considering building hotels on these.
