Bangkok--3 Jun--DC Consultants and Marketing Communications
Wutthiphum Jurangkool, a son of the founder of Thailand’s major auto-parts manufacturer Summit Group, has invested 500 million baht in launching Monopoly Park, the first ‘experience mall’ in the Rama III area.
The new mall will be a one-stop destination for renowned restaurants appealing to middle and upper income groups, and is scheduled to open by the last quarter of 2009.
Wutthiphum Jurangkool, Managing Director of JMax Monopoly Co Ltd, said that Monopoly Park had been developed as an experience mall offering a new experience of enjoyable relaxation. It would be different from existing malls in its unique architecture and its calm, rather than bustling, interior atmosphere.
“Monopoly Park’s big advantage is that it will have many famous restaurants that have no other branches in Bangkok -- or at least, very few,” said Wutthiphum.
“People in the Rama III area and the nearby districts will be able to come here to enjoy superbcuisine without the need to go through the traffic to other corners of the city. Health, beauty and financial services will also be on offer to suit the lifestyles and leisure requirements of modern families.”
Wutthiphum added that the Rama III area was promising because of its communities and residential projects of more than 200,000 households, and its many office buildings.
“Its population of 500,000 includes people with high purchasing power, and it’s just 15 minutes away from business district of Sathorn, Silom and Sukhumvit. Since there is no other mall comparable to ours, I think the project has great potential.”
With an investment budget of 500 million baht, Monopoly Park is located on a three-rai land plot on Rama III Road near the Industrial Ring Road Bridge. Its leased space on three floors will total 6,734 square metres, with parking for more than 120 vehicles. Leasing fees will depend on size and location, and business operators who sign leasing contracts within June 2009 will be entitled to a special rate starting at 600 baht per square metre per month.
JMax Monopoly is now considering restaurant and service operators for the project, and construction is almost 90 per cent complete. The company plans to open the mall in the fourth quarter of this year, when the economy is expected to have recovered significantly.
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