March 21, 2012 00:00
By Kwanchai Rungfapaisarn
Seacon Bangkae yesterday announced that its major facelift was 70 per cent complete and its grand opening would be on August 15.
The renovation was delayed for two months by the massive flood that hit Bangkok’s Bang Khae district late last year.
Tatiya Sosothikul, manager director of Seacon Bangkae, said the shopping complex, worth about Bt3 billion, was on a 40-rai (6.4-hectare) plot and was being renovated in a modern contemporary style. The mall has total retail space of 300,000 square metres, of which about 130,000sqm is gross leasable space.
“About 70 per cent of the facelift process at Seacon Bangkae has been completed. About 80 per cent of its total retail space has been booked by tenants,” Tatiya said.
Seacon Bangkae is divided into six zones: fashion, information technology, mobile telecommunication, health and beauty, food, and banking. Its parking area is able to accommodate 4,000 cars.
“We are quite confident in our Seacon Bangkae project. Bang Khae district shows great demand for large-scale malls. However, there is a low supply of [them] in the area at the moment,” Tatiya said.
He said about 900,000 people lived within a radius of 10 kilometres from the shopping mall, which is 50 per cent higher than the Srinakarin area, the location of its first Seacon Square shopping complex. The spending power of customers in Bang Khae is on par with those living in the Srinakarin area.
Tatiya said Seacon Square Srinakarin had enjoyed higher traffic year after year thanks to the development of many new shopping-mall projects in the area, including The Paradise Park, CentralPlaza Bangna and Mega Bangna.
“We also expect our Seacon Bangkae project to reach its return on investment within seven years, which is shorter than our first mall on Srinakarin Road.”