TCC Land Asset World spending THB20 billion on mall projects
TCC Land Asset World will invest THB20 billion (US$604.5 million) on building and renovating shopping malls and other projects under a three-year roadmap.
Retail MD Napat Charoenkul says about THB6 billion will be invested on extending Asiatique The Riverfront complex in the Charoenkrung area, including a shopping centre and a hotel. The projects are expected to be completed by the end of 2020.
Two new developments are also planned – Asiatique The Riverfront Chiang Mai and Asiatique The Riverfront Pattaya. These will be ready to launch within the next three to four years with a budget of about THB3 billion each.
Meanwhile, Charoenkrung’s Asiatique The Riverfront will have a boost of THB150 million in the form of a waterfront feature to celebrate its fifth anniversary, says Napat. “It is surely going to become the talk of the town.”
The Gateway brand will be applied to a mall in Bang Sue, a THB2.5 billion project to be launched next year. Gateway Mall Bangsue will offer leading brands, which have already leased all the large lots, covering more than 40 per cent of the total area of 40,000sqm. Smaller tenants will take up the remaining space, with all lots expected to be leased out by the middle of next year.
Another Gateway mall, with a budget exceeding THB2 billion and with a leasing area of more than 33,000sqm, will also be launched in the Thon Buri zone.
For Pantip Plaza, says Napat, the company will focus on strengthening the three business dimensions of gaming, solutions and IT lifestyle. Two renovated branches of Pantip, Pratunam and Chiang Mai, have just been launched. The Ngamwongwan and Bangkapi branches are being renovated.
Early next year the company will launch the Avenue mall brand. The first branch, in Soi Lasalle, will feature a supermarket, restaurants and easy-access service. A highlight will be the first Uniqlo high-street site in Thailand.