Community mall developer Siam Future Development plans to open two to three malls annually over the next five years.
The Thai developer said it will earmark 500 million baht to 1 million baht for each mall.
CEO Nopporn Witoonchart believes Bangkok still has room for more community malls, hence, the expansion plans.
The developer said it is in talks with Japanese retailer Aeon regarding a long-term partnership.
“Aeon and SF have had a good relationship for a long time, as many Jusco general merchandise store (now branded as MaxValue) were opened in our neighbourhood malls,” said Witoonchart.
The CEO added that its Megabangna mall, which was developed through partnership with Ikea, has been profitable.
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