Bangkok--25 May--Century 21 Thailand
The Bangkok retail sector was generally positive in 2010 supported by the recovery of the economy and overall property market. The Retail Sale Index in December 2010 increased to 186.15, this improvement in the last quarter has helped increase interest from both domestic and international retailers.
In 2011, it is expected that Thailand’s retail market remain strong as Thai economy has improved because of the foreign tourists’ return and the surging demand from Chinese and Indian economies which help increase Thai export sector (our prediction is based on the assumption that there is absolutely no political protest or instability in Thailand for the year 2011).
In 2011, we will also see major changes for Bangkok’s retail market along and near the skytrain area as Bangkok Metropolitan Administration plans to construct a super skywalk linking all commercial and office buildings to BTS and Airport Rail Link on Sukhumvit, Phetchaburi, Silom, Sathorn, Ramkhamhaeng, etc. If this project can be accomplished as planned it will definitely boost retail sales in areas along the skywalk because it brings convenience to pedestrians.
Century 21 Thailand estimates that in 2011 the area for rent commercial in Bangkok has more than 200,000 square meters and over 250,000 square meters in 2012.while the other market, the spotlight is a market type lifestyle (life style mall).Community Mall or which are likely to increase the number of get on quickly. In response to target specific groups in the next 2-3 years, the company estimates that the region types of lifestyle mall will have over 150,000 square meters
Bangkok’s retailers must be well-prepared and also pay more attention to Chinese and Indian markets which will contribute considerable income for Thailand in the near future. Last year, Thailand attracted 2 million visitors from these two countries alone, a sharp increase up to 50% compared to 2009. This is also a great chance for Thai retail developers looking for opportunities since there is still empty retail spaces in Pratunam need to be developed to serve the needs of these tourists.
In the next few years, shopping malls have to renovate and change their outlook to maintain their customer base as newer retail centers keep entering into the market and they create strong competition. The good example is Central Ladprao, now under renovation. This operational disruption of Central Department Store is giving opportunities for other shopping malls to draw more customers.
Corporate Communication C21 Team Thailand
Voraporn Tedwisan (mayko)
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[email protected] Watchareeya Talangsta (Jeab)
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