TCC Land Asset World invests 20 billion baht, popping new shopping mall and other projects under a 3-year roadmap.

Real Estate Press Releases Monday September 18, 2017 18:07
Bangkok--18 Sep--4D Communications

Mr. Napat Charoenkul, Managing Director of Retail Group, TCC Land Asset World Co., Ltd., revealed a plan for Asiatique The Riverfront Charoenkrung to create new 2 extensions for a hotel on the area of 15 rais and for a shopping center on an area of ??about 20 rais. The estimated budget for both projects is 6 billion baht. Currently, the company is working on the design which is expected to be completed by the end of 2020. Also, to reach out to consumers in other provinces, the company is now planning, designing, and developing Asiatique The Riverfront Chiangmai and Asiatique The Riverfront Pattaya, and will be ready to launch within the next 3-4 years from now. The development budget is about 3 billion baht per project. The theme will continue to be the 'Lifestyle and Festival Market' that perfectly fuses local history and lifestyles of people in each area with shopping experiences. At this stage, the company has begun offering leasing spaces to brand tenants such as Performance business, theme park operators, and souvenir manufacturers who have their own production facilities. The Asiatique branches both in Chiang Mai and Pattaya will primarily target customer, 80% of which are International tourists and the remaining 20% ??being Thai tourists within the provinces.

"On the occasion of the 5th anniversary of Asiatique The Riverfront Charoen Krung, the company has invested over 150 million baht to create a new waterfront highlight which is surely going to become the talk of the town of Thailand. It is expected to be available to tourists during the early 2018," added Mr. Napat Charoenkul

Regarding the development of the shopping center under the brand 'Gateway', Mr. Napat further explained that in 2018, the company would officially launch Gateway Mall Bangsue, which is worth 2.5 billion baht. Even during the construction period, leading brands have already leased all large space lots, covering over 40% of the total area of ??40,000 square meters, and the remaining lots are currently being sold to smaller tenants. All of the lots are expected to be fully leased out by the middleof 2018. In addition, another Gateway mall, with the budget of over 2 billion baht and leasing area of more than 33,000 square meters, will also be launched in the Thonburi zone to accommodate the expansion of the community in that area, whose demand for a one stop service shopping center is as high as that of communities in Ekamai and Bang Sue.

"Another success of the company is the Center Point of Siam Square shopping mall, where the number of traffic is increasing to 60,000 people per day or more than 100% from the pre-makeover period. The space refurbishment has been completed both inside and around the building of the shopping center in order to offer another choice of shopping places with high potential in the heart of Siam Square. The shopping mall has made an impressive performance to support the need for spaces for marketing activities, resulting in leading brands taking turn to use the space for many activities. The upgraded area of the shopping mall consists of the 4th floor area or Co-Here Space with the area of ??250 square meters. It was renovated with the budget of more than 1 million baht and can accommodate 120-150 persons. Another newly created activity space is the "Co-On Ground" shopping complex on Siam Square Soi 3 and Soi 4. The space is perfect for product launching events and other activities that meet the needs of new generation lifestyle. With a total area of ??146 square meters, the renovation budget is about 2 million baht," added Mr. Napat.

For Pantip Plaza, Mr. Napat added that the company will focus on strengthening the three business dimensions: gaming, solutions, and IT lifestyle. The two renovated branches of Pantip are Pratunam and Chiang Mai which were launched recently. The Ngamwongwan and Bangkapi branches are undergoing a renovation and will be bringing in gaming to strengthen their selling point and meet the needs of customers because there are still no shopping center in the area that can fill in this gap at all.

"Around the 1st quarter of 2018, the company will launch a new shopping mall brand called 'Avenue'. The first branch will be established in Soi Lasalle, and will feature a supermarket, restaurants, and easy access service. One highlight of the center is the first launch of Uniqlo Road Site in Thailand. The company also plans to continually expand the development of the shopping complex under the Avenue brand for the next three years from now," said Mr. Napat.

Recently, the company has upgraded the Tawanna Bangkapi flea market and changed the brand name into 'Tawanna Market' to develop it into a truly community-based marketplace, creating new service standards. It is a community market with major brands as well as in shopping centers or community malls, such as supermarkets, major fashion outlets, movie theaters, large repair centers, etc. The company will develop 3 Tawanna Market projects simultaneously in Bang Phli area on a 50-rai area with 600 million baht investment, in Rama 2 on a 35-rai area with 900 million baht budget, and in Thonburi on the Chao Phraya River covering 10 rais of with more than 2 billion baht budget.

"This investment of over 20 billion baht on these mega projects by TCC Asset World will open up a new dimension in the retail business in Thailand, such as a community market model that ideally fits for both big and small tenants. It is believed to be able to attract people's attention continuously to achieve long-term growth. The reason the company develops a variety of shopping center platforms is to fulfil the needs of today's customers who want to seek differences that still directly address their demands. This phenomenal change in consumer behavior results in segmentation marketing. However, a clear goal will enable us to a sharp decision and straightforward business direction. And every time our company has a piece of land ready to be developed, we can make sure that it will be successful since we are confident in our strong point as "The Most Diversified Developer." We can always choose the right brands to fit in our space and make adjustments to best satisfy the needs of the people in the area," concluded Mr. Napat

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