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Future Park Rangsit expects growth of 8%

Rangsit Plaza, owner and operator of Future Park Rangsit, expects 8-per-cent revenue growth to Bt1.26 billion this year, following a 7-10 per cent increase in its rental fees, managing director Pimpaka Wanglee said yesterday.

Published on March 12, 2008



The company announced revenue of Bt1.16 billion for 2007, up 6 per cent from Bt1.1 billion the year before.

Pimpaka said the company might resume investment in its Future City residential and commercial project, due to the clearer political atmosphere.

"We are considering whether or not to increase our property fund to support our investment. However, that depends on our fund's holders," she said.

Future Property Fund recorded a yield 10 per cent above average in the first two months of this year.

Pimpaka added that the company had increased rental fees after investing Bt800 million to renovate 570,000 square metres of its shopping centre to become The Natural Metro Shopping Park.

Of this amount, Bt200 million

was invested last year and Bt600 million in the first two months of this year.

Following renovation, the shopping area has been increased from 510,000 to 570,000 square metres. With the new utilisation space, the company's rental fees will also increase, Pimpaka said.

 The company also set aside a marketing budget of Bt300 million to promote its new concept and raise customer numbers from an average 130,000 a day to 156,000 this year - up 20 per cent.

"We believe that following the election [last December], consumer confidence this year will be better than last year. As a result, we believe consumer spending will increase from an average Bt2,000 per bill last year to between Bt2,100 and Bt2,200 per bill this year," Pimpaka said.

Somluck Srimalee

The Nation



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