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Bangkok’s booming suburbs are fast becoming the new retail hot spots

By on Dec 14, 2012 in Retail

Published on Bangkok Post by Surachet Kongcheep, dated 9 December 2012

The retail market in suburban Bangkok has grown in line with the outward expansion of residential development and major roads. Retail developments located along key roads _ Rama II, Srinakarin, Bang Na, Ratchaphruek, Phahon Yothin and the Rangsit-Nakhon Nayok Road in Pathum Thani _ have the potential to thrive. They can draw customers from their immediate surrounding areas as well as inner-city residents looking for something different, and also customers from provinces linked by these roads to the capital. The four most fashionable areas for retail development are as follows:

Photo: Bangkok Post

RANGSIT-NAKHON NAYOK ROAD

The area along Rangsit-Nakhon Nayok Road, and another small connected road is the most popular area for residential projects. Some date back 10 years or more, but there is still room for expansion.

Future Park Rangsit, the biggest mall in the area, is located at the intersection of Phahon Yothin and Rangsit-Nakhon Nayok roads. It has enjoyed continuous growth and the developer plans another Future Park Rangsit in the same area, valued at three billion baht with a 2013 start date expected.

The Big C and Tesco Lotus hypermarket models also are prominent along the two main roads. Tesco Lotus has also attempted to attract more customers by opening smaller Tesco Lotus Express stores in surrounding neighbourhoods.

The owner of Zeer Rangsit has changed its identity from a shopping mall to the largest IT centre in Pathum Thani. Merry Kings Rangsit, meanwhile, has been acquired by the owner of Bo Bae Tower and will become the Bo Bae Rangsit wholesale mall, linked to Zeer Rangsit by an overpass. This area will become a new shopping magnet.

In addition, Central Pattana Plc (CPN) has bought a large plot of land from Apex Riverside Co Ltd, which originally acquired the 616-rai plot on Phahon Yothin Road from Thai Asset Management Corp. At the site, located close to the BTS Red Line extension, CPN and Apex Riverside aim to jointly develop a large-scale shopping mall as a central point for transport from Bangkok to the North and Northeast.

RATCHAPHRUEK ROAD

Since it opened in 2002, Ratchaphruek Road has become a favoured location for residential projects, especially high-end and luxury housing, because it is connected to the city, suburban Bangkok and Nonthaburi province.

The high number of housing projects and the huge number of cars that use this road every day are a great attraction to retail developers, and some community malls have opened along this road. They include The Circle Ratchaphruek, characterised by its European style and colourful buildings. The Walk Ratchaphruek, by Index Living Mall, has become a new social magnet with its Santa Monica Village style, and many restaurants within a total space of more than 20,000 square metres, including an Index outlet.

In addition, HomePro and HomeWorks have opened stores on this road, and some housing developers plan community malls in front of their housing projects, similar to the opening of Pure Place Ratchaphruek in May, 2012. The retail centres in the area tend to have more high-end shops compared with other suburban areas, reflecting the relative affluence of residents in the area.

RAMA II ROAD

An 18-lane road that connects Bangkok with the southern part of Thailand, Rama II is also connected to the expressway, thereby offering convenience to people who work in the city area, as well as convenient links to Nonthaburi, Pathum Thani and Samut Prakan via the Outer Ring Road. Housing development has been expanding steadily on roads and sois off Rama II for more than a decade.

Read full article:  http://www.bangkokpost.com/news/investigation/325282/bangkok-s-booming-suburbs-are-fast-becoming-the-new-retail-hot-spots

 

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