Bangkok--24 Jan--124 Communications
Five new projects to add 84,000 square meters of rental space
Siam Future Development Plc Chief Executive Officer Nopporn Witoonchat revealed today that J Avenue, which receives 200,000 visitors and generates over 200-million-baht income annually, has won the first prize in the Small New Centers Category of the 30th ICSC International Design and Development Awards.
Acknowledged as the industry’s most prestigious awards, ICSC is divided into 2 major categories including Renovation which applies to refurbishments and extensions of shopping centers and Innovation which focuses on new shopping centers.
Entries in the Innovation category compete in 4 subcategories depending on the size of the shopping center with Small New Centers covering less than 150,000 square feet, Medium New Centers from 150,000-500,000 square feet, Large New Centers over 500,000 square feet and Very Large Centers encompassing multi-building complexes that have office, hotel and residential space among others.
The competing shopping malls are scored on master, shopping pattern, architectural and geographical designs, decoration, shopping diversity, lighting, sign posting, rental fees, space sale volume and consumer acceptance.
“ICSC awards are international trophies for the shopping center industry and are difficult to win because the contest is highly competitive and is replete with difficult criteria and a number of conditions aside from there being rivals from all corners of the world. The award we received is an important step of the Thai shopping center business while of course filling us with pride,” Mr Nopporn said.
J Avenue is successfully designed by Contour Co., Ltd. and constructed by Cho Runglert Group Co., Ltd. while the real estate agency is Jones Lang LaSalle Thailand Co., Ltd.
This year Siam Future Development has earmarked a budget of around 1 billion baht to invest in 5 new shopping centers in Pattaya, Ratchayothin, Kaset-Nawamin, Mercury Tower and Sukhaphiban 1.
The expansion will increase rental space to 274,000 square meters from 190,000 square meters in 2006. It is expected that this 44% increase will boost the company’s total revenue by 23% this year.
“Our strategy in 2007 is to focus on designing modern shopping centers in keeping with shopping center development and management theories. In order to build valuable relations with every tenant, we hold promotional activities from time to time to boost their sales. More importantly, we maintain our business code of conduct by not competing with our tenants, altering the project’s pattern or adding more buildings that obstruct business throughout the 10- to 30-year rental contract,” Mr. Nopporn added.
In addition, Siam Future Development is searching for new locations to meet customers’ needs while relying on highly-experienced property agents, architects, contractors plus security, cleaning and consultant companies to ensure good construction standard. The company vows to not develop and manage too many projects in order to maintain its business standard. New projects will only be undertaken provided the company has sufficient well-trained staff and the experience to sustain or improve its business standard.
For more information please contacts:
Elizabeth Wongwasin, [email protected]
Kachaphob Sanguanwong, [email protected]
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