Central Pattana Ltd., the real estate arm of Thailand’s biggest retailer, Central Group, has opened two major malls and reopened a renovated center.
This story first appeared in the August 4, 2009 issue of WWD. Subscribe Today.
Central Plaza Chonburi, a 1 million-square-foot, $7 million mall just outside Bangkok, opened in May. The five-floor complex is 85 percent leased and includes six major anchors: Robinson Department Stores, Carrefour, book and music store B2S, Office Depot, Super Sports and a Tops Grocery market.
A 1 million-square-foot shopping center near the Thai-Laos border was reopened by Central Pattana in April after a $2.8 million renovation. Major anchors are Robinson Department Stores, B2S and Power Buy. The mall also includes 400 retail shops.
The biggest new project of Central Pattana is a 2.5 million-square-foot, $12.2 million oceanfront mall at Pattaya Beach, which opened in January. The mall, called Central Festival Pattaya Beach, is anchored by a five-story Central Department Store, a food hall, B2S and Super Sports. It includes 370 retail shops, a five-star hotel and 10 movie screens, and is targeting the 1.8 million Thai visitors and four million foreign tourists who visit the area every year.
Other planned retail expansions include:
• Three outlets planned by Swedish retailer Ikea over the next 10 years. The retailer buys almost $150 million in Thai furnishings for global sourcing. Each store is expected to cost $80 million and will be about 377,000 square feet.
• Construction has begun this year on a 5 million-square-foot complex owned by Siam Future Development and Ikea called Mega Bang Na, which is expected to cost $293 million and expected to open in 2011.