"Central Retail" to Launch Lifestyle Community Mall
at a space condominiums
Thailand's leading retail group, Central Retail Corporation and the management company of a space condominiums, Areeya Property, introduced "Lifestyle Community Mall" in front of a space Condominium Sukhumvit 77. With an investment of 150 million baht, the new mall will include Tops Market as well as other shopping and lifestyle establishments to cater to the needs of urban living.
Wisit Laohapoonrungsee, Chairman and Chief Executive Officer of Areeya Property Plc.,
said that the project is initiated under a partnership between "a space" and "Central Retail Corporation", Thailand's largest retail group, to launch a Lifestyle Community Mall project in front of a space condominium. Operated under 30-year lease on land, the mall will be located at the front of a space Sukhumvit 77 to serve residents who will move in by mid 2008, as well as those living in the vicinity.
Inspired by the theme of "For all your needs, just the way you want it", the Lifestyle Community Mall is intended to offer a space residents and nearby community an ultimate experience of modern living in a relaxing and lively atmosphere where they can enjoy shopping, or simply entertaining themselves with family and friends.
"This project is a synergy of two major business groups which will give a space Sukhumvit 77 a cutting edge over other condo projects," said Mr. Wisit.
Prin Chirathivat, Executive Director - Finance of Central Group of Companies was highly confident in Areeya Property plc. due to Areeya's long experiences in real estate and property development business. Other than that, On-Nuj is a prime location as it is one of the largest business districts and residential zones in Bangkok.
The new Lifestyle Community Mall will be located on a
6.5-rai plot of land in front of a space condominium. The project is budgeted for a 150 million baht investment and is expected to be completed no later than the fourth quarter of 2008.
To be featured at the mall will be a wide range of modern shopping facilities and services that include financial services, beauty and slimming centers, lifestyle shops, café and gourmet eateries. Moreover, the mall's "on-grade" parking lot can serve up to 100 cars to enhance convenience for all shoppers.
The mall's landscape architecture is uniquely designed under the "Open Space" concept, incorporating variety of materials such as wood. The open rooftop design with plants and floras accenting offers a touch of natural ambience and tranquility. The overall décor is centered around the idea of calmness and serenity to create a relaxing and friendly ambience for shoppers.
Mr. Wisit added that, " The main reason that Areeya decided to team up with Central Retail is that Central Retail is highly experienced in managing a wide range of retail businesses that cover all market segments across the country, whether it be department stores or specialty stores such as Central, Robinson, Zen, Tops, B2S, Power Buy, SuperSports. Moreover, Central Retail has enjoyed a good image of good business practice. Therefore, we believe that this partnership will make a space Sukhumvit 77 a perfect choice that caters to all lifestyle of a space residents and nearby community. What's also important is that this is the first time that Central Retail cooperates with a property developer to launch this unique business model."
Target buyers of a space project are mainly new generation consumers aged 25-35 years who live a modern lifestyle. This consumer group also has passion for art and design, and yet need privacy. The new Lifestyle Community Mall at a space Sukhumvit 77 will complement to such needs as residents do not need to travel too far in a heavy Bangkok traffic to shop or relax. The Lifestyle Community Mall will be a perfect place to shop, eat and hang out with family and friends in a very relaxing and private atmosphere.
Scheduled to open for service by fourth quarter of 2008, the lifestyle community mall will mark the beginning of a new era of modern retail as a perfect neighbor for all to shop and enjoy a happy moment everyday.
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