Thai neighbourhood mall developer Siam Future Development plans to expand its portfolio with an investment of one billion baht (US$32.7 million).

SF says the new investment will fund two new neighbourhood malls and the expansion of its Nawamin City Avenue property.

The company plans to develop 10 to 15 community malls a year moving forward.

According to the chairman of the executive board, Nopporn Witoonchart, Thailand currently has more than 1000 community malls, however, most of them lack experienced management and space rental efficiency.

SF also plans to expand its retail space by 20 per cent annually.

Aside from developing its own neighbourhood and community malls, SF also provides management services for projects by other developers. It is currently managing the three-storey community mall Imagine Village.