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Another Good Year for Bangkok Retail Property Market in 2013

By on Sep 10, 2013 in Research

Bangkok Retail MarketView, Q2 2013

Bangkok Retail Market View, Q2 2013The performance of the Bangkok retail property market remained strong. The total supply was 6,247,125 sq.m., increasing by 4.1% Y-o-Y. It slightly increased by 1% from the last quarter, with an additional 63,337 sq.m. in four new retail developments: Nihonmura mall, Green plaza, The Walk – Kasrt navamintra and Imagine Village.

Construction is progressing in downtown Bangkok with two new major shopping centers; the 70,000-sq.m. Central Embassy will be open in Q4 2013 and the 50,000-sq.m. Emquartier will be open in Q4 2014.

Platinum Fashion Mall Group plans to develop the Platinum Market where will be located next to Big C Rajadamri with 50,000 square metres of retail space.

The construction will start by 2014.

Community mall developers are focusing on residential areas. Upcountry retail sales may be slowing, Tesco’s same store sales were down 3% in Q1 where as BIG C’s same store sales rose by about 3% so overall there was limited growth in the superstore sector.

The Thai Retailers Association (TRA) reports the retail and wholesale industry grew by 9% in the first half of 2013.

The overall occupancy rate of Bangkok retail centres remains strong. Rental rates increased in the best shopping mall but still flat for community mall where the success rate was mixed.

This is an extract from Bangkok Retail MarketView Q2 2013, click to download the full report.

Toby has been living in Bangkok for a number of years and has a strong research background. With his years in Thailand Toby brings a wide range of property knowledge to his research writing

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