The operator of the Jungceylon shopping centre in Phuket plans to open its first community mall in Bangkok in the first quarter of next year.
The Mille Malle is being built on a one-rai plot on Sukhumvit Soi 20 at a cost of 300 million baht, said Pravit Janyasithikul, the CEO of Phuket Square Co.
“Though many new community malls have been developed in the past one or two years in Bangkok, there is room for us to enter in this attractive segment,” said Mr Pravit.
The mall will have total retail space of 6,758 square metres with 25 tenants including a supermarket, bakery, restaurants and other services.
Mr Pravit said the mall would be an attractive dining place and hangout for people in the Sukhumvit area. It aims to have about 3,000 visitors on weekdays and 5,000 daily on weekends, and to break even within 11 years.
The target group of Mille Malle will be middle- and upper-income consumers who live in the Sukhumvit area within a 5-kilometre radius. It will also serve customers from some 30 luxury condominiums, hotels and office buildings in nearby areas.
Major anchors in Mille Malle include a 24-hour Max Valu Tanjai mini-supermarket, Yamagoya ramen restaurant and Zen Cucina. There will be parking for 100 cars.
Rents for retail space are about 1,000 baht per sq m per month. Currently, about 50% of the space has been booked. The company expects to earn 26 million baht in rental fees in the first year of operation.
Construction is 70% completed and the new mall will create about 50 jobs.
Phuket Square is also looking for other land plots for more community malls in the future.
Source: Bangkok Post