Six major malls planned for Thailand
The company behind Siam Paragon has unveiled plans for six new world class shopping centres in Thailand, four of them in Bangkok.
The combined value of the mixed use developments just revealed is 50 billion baht, or US$1.534 billion. A construction timetable has yet to be revealed.
Vice chairwoman of The Mall Group, Supaluck Umpujh, says the company’s goal is to elevate Thailand to a world leading retail centre with resort destination and entertainment facilities.
The biggest part of the development is The District-Em, is a 650,000sqm retail centre comprising three world-class shopping complexes – The Emporium, The EmQuartier, and The Emsphere, all set on a 50-rai (8ha) plot adjacent to Benjasiri Park at the Phrom Phong BTS (skytrain) station.
TMG wants the development not just to serve as a commercial hub, but become an iconic district for retail, business, office, residential and entertainment.
The existing Emporium centre will be redeveloped as part of the project. Encompassing a total area of 200,000 sqm, The Emporium, the Ultimate Shopping Complex, will be renovated “to project an elegant, modern atmosphere while maintaining its established charm”, TMG said in a statement. The New Emporium and Emquartier will open in late 2014.
The EmQuartier, the Extraordinary Life, comprises 250,000 sqm and includes a high-end shopping centre, office building, atriums for events and recreation and park.
The Emsphere with a project area of 200,000 sqm, will feature a design and tenant mix TMG describes as “a revolutionary shopping experience”.
The entire Phrom Phong development represents an investment of more than 20 billion baht at the very heart of Sukhumvit, an area already home to over 1000 world-class Thai and international brands, shops, luxury fashion labels, technology, lifestyle, living and dining.
Further along the skytrain line, a brand new mall complex will be built at the Bangna-Trad, Sukhumvit Rd intersection, a centre so large it will be directly connected to two BTS stations.
The Bangkok Mall will comprise 650,000sqm set on a 100 rai (16ha) plot opposite the BITEC Bangna convention centre, which is expanding to 300,000 sqm.
“The Mall Group is investing more than 20 billion baht in Bangkok Mall project, which is destined to become a city within a city with its ultra modern and spectacular architecture consisting of business, residential and office space,” TMG said in a statement.
Three hours from Bangkok, at the beach resort town of Hua Hin favoured as a holiday destination by middle class Thais, TMG will build a new centre, Bluport Hua Hin Resort Mall. The 250,000sqm development, in partnership with Proud Real Estate Co, will stand on a 25 rai (4ha) plot opposite the InterContinental Hotel.
TMG says the shopping complex will reflect the traditional Hua Hin charm while becoming a shopping and destination magnet for both Thais and foreign tourists.
And in Phuket, a major destination for tourists visiting Thailand, TMG will build The BLÚ Pearl Grand Majestic Palace.
The development will comprise 650,000 sqm on a 150-rai (24ha) plot, including a convention and exhibition centre, resort hotel and world-class theme parks. The BLÚ Pearl is to be promoted as “the pearl of Phuket, the pride of the Andaman, and the leading world-class luxury retail and entertainment resort destination in Asia”. Emsphere, BLU Port, BLU Pearl and Bangkok Mall will open in 2017.
TMG says it believes tourism in Thailand will boom with the advent of the ASEAN Economic Community (AEC) next year, a factor behind its investment in centres outside Bangkok.
“The AEC will herald a major change in the country’s position as a leading regional shopping hub and top tourist destination. There are 10 ASEAN member countries, totalling 600 million in population. The improved infrastructure, transportation, and airports in key cities are expected to increase inbound tourism from 25 million to 40 million people within the next five years. The destination cities include Bangkok, Phuket, Pattaya, Hua Hin, and Chiang Mai among others,” the company said.
Supaluck said with more than 50 billion baht invested in developing The Mall Group’s six projects the company firmly believes it will mark a new era in Thailand’s retail industry.
“Tourism and businesses will boost the economy and generate massive job opportunities while increasing the attractiveness of Thailand for foreign investors. Our skilled and creative management is poised to take on the challenge of this unprecedented new retail and lifestyle era.
“The Mall Group is in fact already inspired by what lies ahead, and we look forward with great confidence and enthusiasm,” she concluded.
The Mall Group’s flagship Paragon is among Asia’s most popular shopping centres, trading 365 days and incorporating retail, convention facilities, an aquarium and cinema complex. It’s possibly the only place in the world a shopper can purchase a new Lamborghini car or a toothpick under the same roof.