TCC Land Asset World sets Bt8.2 bn budget for shopping centres upgrade 

Real Estate November 10, 2017 01:00

By   THE NATION

TCC LAND Asset World Co Ltd, a property arm of beverage tycoon Charoen Sirivadhanabhakdi, has allocated a budget of Bt8.2 billion to renovate and enhance its shopping centres in 2018-19.



The company’s retail group managing director, Napat Charoenkul, said this was a part of its attempt to achieve total revenue of Bt3.5 billion from its retail business in 2018, up 17 per cent year on year. Revenue this year is estimated to be Bt3 billion, up 15 per cent over the previous year, he added.

The budget includes Bt50 million each for Pantip Ngamwongwan and Pantip Bangkapi, and Bt100 million for Box Space Ratchayothin which will be transformed into a “community market”. 

A budget of Bt500 million is allocated for Lasalle, Bt4 billion for Gateway Bang Sue Shopping Centre, Bt1 billion for Tawanna Bangplee, and Bt2.5 billion for Tawanna Rama II.

He said it is expected that in 2017, the revenue will approximately reach Bt3 billion corresponding with the increasing number of customers, which has shot up from about 200,000 people per day at the company’s 10 current projects to 250,000 people per day. 

The income generated by each project has met the set goal thanks to the development that has enabled all projects to be easily accessible and satisfy customers with all lifestyles. 

Meanwhile, Manop Khamsawang, general manager and asset manager of Asiatique The Riverfront Brand, added that the company targets up to 12 million tourists by 2017 year-end. The development of real estate projects on both sides of the Chao Phraya River also represent business opportunities in this area. About 30 per cent of total visitors are Thais and 70 per cent foreigners. The top five Asian countries whose people visit Thailand the most are China, Hong Kong, Taiwan, South Korea, and Indonesia. Asiatique also aims to attract European tourists in the future.

Gateway Ekamai has seen growth of up to 15 per cent amid the retail business boom in the Ekamai-Sukhumvit area. More activities will be launched in 2017 to expand customer base in the family segment, Ratchaphruek Ubon-Sri, the asset manager of Gateway Ekamai Shopping Centre and Center Point of Siam Square, said.

Center Point of Siam Square has generated over Bt200 million in revenue, reinforcing its image as “Beauty & Fast Trend”, and welcoming new shops to attract a new generation of customers in Siam Square, Ratchaphruek added.

Pantip continues to upgrade its new branches – Ngamwongwan and Bangkapi – after successfully reimaging “Pantip Pratunam” as a shopping centre for IT technology and incorporating E-Sports to stimulate purchasing power, Weerarit Somboonsub, Pantip’s asset manager, said.

Regarding the business development strategy, Weerarit commented that from the end of this year to the beginning of the next year, Pantip Pratunam will host a regional game competition with games from Point Bank and True Digital Plus. The final round will be held at the Pantip E-Sport Arena. There will be sales promotion events such as “Notebook For Life” during December along with promotional activities for foreign customers to create awareness among customers about the wide range of technology products and expertise that Pantip has to offer as the most comprehensive IT mall in the country.

Tawana Bangkapi returns with a new concept of a modernised community market, the first model of its kind in Thailand, Supadej Lertpayap, asset manager of the Tawanna Brand, said.