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Research Centre
11 Dec 09
Bangkok Retail MarketView Q3 2009
Bangkok Retail MarketView Q3 2009
Bangkok’s total retail space stood at 5.26 million m2. Supply increased in both downtown and suburban areas, while there was no new supply in the midtown area during the quarter. The shopping mall format accounted for the highest percentage of total supply, with 53.3% of total retail space. There were three new retail centers completed in this quarter, with a total area of 36,604 m2. Only Digital Gateway was located in the downtown area. Retail occupancy increased slightly to 92.4%, with suburban areas recorded the highest take-up.
Although there is still downward pressure on rents, retail rents slightly increased in line with the economic recovery. The Consumer Confidence Index (CCI) and retail sales both saw an increase in Q3. Overall, there are signs of improvement in the retail sector, however continued improvement will depend on the speed of global and local economic recovery coupled with a stabilized political environment.
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