Central to build supermall
Central Group subsidiary Central Pattana will spend more than 10 billion baht (US$336 million) to develop a supermall in Nonthaburi.
The Thai retail developer said the mall, to be named CentralWestGate, is intended to promote Thailand as a retail leader in the region. The first phase of the mall will have 300,000sqm retail space and will open in 2015 while the remaining second and third phases to be fully completed by 2021.
“With the project, Bangkok and Thailand will become a regional shopping hub, like other major cities of the world,” said Wallaya Chirathivat, CPN’s Senior EVP for business development, design and construction.
According to the developer, CentralWestGate will create more than 10,000 jobs and will contain a parking lot which can accommodate 6000 cars. The new mall will be the company’s second largest investment after CentralWorld where it spent more than 20 billion baht.
The location, Bang Yai, is a potential magnet for shoppers as it is foreseen to be a new Bangkok CBD, says the company. New residential developments in the area are also seen to be positive indicators of a market size increase.
Central Pattana operates 20 shopping malls and is developing three new in Ubon Ratchathani, Chiang Mai and Hat Yai slated for April, November and December openings, respectively.