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Malls plan renovations for AEC

By on Jun 26, 2012 in Property News

Shopping centres around the Ratchaprasong intersection are planning facelifts and new premises to cash in increasing foreign tourists for the Asean Economic Community (AEC) starting in 2015.

Siam Piwat Co, the operator of Siam Center, plans to spend over 1 billion baht for its biggest store renovation in its 40-year-history. Gaysorn will start building a second retail complex next door to the current store, while The Platinum Fashion Mall Co will allocate 100 million baht for renovations and perhaps a new mall near Big C Ratchadamri over the next two years.

Siriphen Intuputi, an executive at Siam Piwat, said the company will close Siam Center for a four-month renovation from July 16 to Nov 15, 2012, and is scheduled to re-open in early December.

Siam Center is going for a chic and trendy facelift, she said.

This year foreign tourists to Siam Center have made up 50% of the total, with major contributions from China, Hong Kong, South Korea, Japan, Malaysia, Singapore, India, and Laos. Outside Asia, Australia tallied the most visitors, followed by the UK and the US.

“It’s the first time in 40 years foreign tourists have made up 50% of the total,” she said.

Before closing, Siam Piwat will spend 20 million baht for the Miracle of Siam sale June 28 to July 15, with 1.5 billion baht in sales expected.

Another 20 million baht will be spent on pop-up store sales at Siam Discovery and Siam Paragon during the makeover.

Chai Srivikorn, president of the Ratchaprasong Square Trade Association (RSTA), said it will join hands with Tourism Authority of Thailand (TAT) to launch more marketing activities to encourage foreign tourists to spend up to four to five days in Bangkok, up from 1.5 days currently.

RSTA also spent 60 million baht to extend the skywalk to Platinum Fashion Mall by year-end.

Pongsak Nantawannakul, executive vice-president of The Platinum Fashion Mall Co, a new RSTA member, said it will spend 100 million baht on a facelift by year-end that will take two years.

Source : Bangkok Post 26 June 2012

Nora has been in the Corporate Communications arena for a number of years. Nora's role is to communicate all newsworthy items that are of a PR nature.

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