Thai mall operator Gaysorn Land Asset Management will develop a second mall, with construction to start in 2014.
The new mall, to be called Gaysorn II, will be adjacent to the existing one. It will comprise 7000sqm of retail space with the rest of the 30-storey building housing 63,000sqm of office space.
Gaysorn said it will invest 3.5 billion baht (US$110.87 million) for the mixed-use project.
Meanwhile, Gaysorn I will get a major facelift with an investment of one billion baht (US$31.67 million). Dining space will be expanded to account for 20 per cent of the total space – significantly more than the current eight per cent.
Chairman Charn Srivikorn said the renovation is part of the company’s repositioning in response to the Asean Economic Community in 2015.
Gaysorn Land Asset Management is a partnership between Gaysorn Group and Hong Kong Land. The first mall, Gaysorn I, located on the Ratchaprasong district in Bangkok, consists of retail space – mainly luxury fashion stores and restaurants – spread over five floors and beneath three floors of office space.
GB
