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Published on November 1, 2007

Suwapee Holdings, the owner of Bangkok's Yingcharoen Fresh Market, plans to invest more than Bt200 million next year to open two new retail projects with a community-mall concept, combining modern retail plazas with the strength of fresh markets.

The company has already created its first supermarket, called Super Yingcharoen, to sell premium products such as imported fruit and meat, organic vegetables and food products from the royal projects that are not available at its conventional fresh market.

Managing director Parinya Thammawattana said the company was negotiating with four or five landlords in the Sukhumvit area as well as industrial estates in Chon Buri and Rayong provinces for long-lease contracts covering 20-30 years.

"The plots in Bangkok will cover four or five rai and those upcountry more than 100 rai. The initial investment required to open a retail complex on a 20-rai plot is about Bt100 million," Parinya said.

He said the first project would be launched by the beginning of next year. At least two new developments will be undertaken next year, with a combined investment of more than Bt200 million.

"We have seen a full occupation of retail space at our existing 30-rai Yingcharoen Fresh Market complex in the Saphan Mai area," Parinya said.

The fresh market is expected to contribute rental revenue of about Bt250 million to the company this year, up 15 per cent from last year.

Parinya said Suwapee Holdings expected rental revenue of about Bt300 million from the Yingcharoen complex next year, as well as Bt120 million from the two new retail projects.

The company opened its first Super Yingcharoen supermarket at its retail complex in Saphan Mai six months ago.

With retail space of 200 square metres, the supermarket offers about 5,000 different premium products that shoppers will not find at the fresh market. About 80 per cent of the supermarket's merchandise is food.

"We have received very good feedback from local shoppers at the new supermarket, which achieves sales of Bt50,000 a day. We plan to expand the Super Yingcharoen supermarket outlets along with any new retail projects we develop," Parinya said.

Suwapee Holdings officially opened its Yingcharoen Home Science School and Bangkok Book House at the Yingcharoen Fresh Market yesterday.

It aims to produce a new generation of educated merchants at the fresh market, with an enhanced capacity to compete with modern retailers in the area.

Following an investment of Bt15 million, the Yingcharoen Home Science School is expected to produce about 100 graduates per year.

Kwanchai Rungfapaisarn

 The Nation