Commercial & Industrial Property News Update

Thailand - New Mega Shopping And Entertainment Complex To Rise In Hua Hin

September 18, 2012

The retail project is estimated to be worth THB 5 billion, and will be jointly developed by The Mall Group and the Liptapanlop family.

Thailand's second-largest retail chain is teaming up with the Liptapanlop family for a 50:50 joint-venture involving the development of a large-scale shopping and entertainment complex in Hua Hin.

The Mall Group will collaborating with Proud Group, currently managed by Proudputh, the daughter of veteran politician and chief adviser of Chart Pattana Puea Pandin Party Suwat Liptaponlop, to run the retail project.

Located on a 20-rai plot on Phestkasem Road, the mega complex will be sited opposite Intercontinental Hua Hin Resort and close to Hua Hin Market Village.

Named The Mall Hua Hin, the development will offer between 80,000 to 100,000 sq m of retail space. It will comprise The Mall department store, a retail plaza, a financial services area, entertainment anchors, international fashion brand name stores and a five-star hotel.

Construction is scheduled to start by early next year and will be completed in 2014.

This will be the eighth retail project for the Mall Group, as well as being the second provincial branch after the Mall Korat in Nakhon Ratchasima.

Hua Hin offers an attractive market for investors, with a boom which began five years ago transforming the charming resort town in Prachuap Khiri Khan province into a tourist hotspot. A slew of new property developments including hotels, resort condominiums, hospitals and theme amusement parks have risen in the area, which saw two million visitor arrivals last year.

Additionally, The Mall Group is also planning the launch of a second branch of The Emporium in 2014. It has also recently won a bid to operate 2,700 sq m of commercial space at Don Mueang Airport.

For the airport, the group plans to invest THB 200 million for an F&B themed venue, named "Wonder Food of Asia". It is expected to begin operations on 1 October.

Sales of The Mall Group are expected to reach THB 50 to 60 billion within three years, up from THB 45 billion this year.

Tags: Real estate investment, Shop for rent, Business space

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