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Thailand Industry – TBN Sticks With Car Showroom Concept

By on Sep 23, 2014 in Property News

TBN Group is moving ahead with its unique business-development model that combines automobile showrooms with shopping malls, and will invest about Bt5 billion next year to establish its fourth community mall and its fifth Toyota showroom in Bangkok, as well as diversifying into residential property projects next year. It is also planning to enter the hotel and service apartment business, utilising its reserved land plot within its Paseo Mall complex in Bangkok’s Lat Krabang district, said managing director Wijak Lertprasertpakorn.

At a Bangkok hotel, TBN president Chan Lertprasertpakorn attended yesterday’s official launching ceremony for The Paseo Park, its third lifestyle shopping mall, which is on Kanchanaphisek Outer Ring Road. He told reporters that TBN would start constructing its fourth mall on a 50-rai (8-hectare) plot in Rangsit next year with an investment of Bt2.2 billion. Like the previous three projects, the Rangsit mall will have a Toyota service centre sitting beside it that will require an investment of Bt500 million to Bt600 million.

TBN will also expand into residential property for the first time, with two condominium projects costing a combined Bt2 billion approximately, he said. The Rangsit project will complete TBN’s goal to have its Toyota showrooms and community malls covering all four corners of Bangkok.

After opening a standalone Toyota showroom opposite CentralPlaza Bangna 10 years ago, TBN kicked off its unique concept – said to be the first of its kind in Asia – by building its second Toyota showroom with the Paseo Mall at Lat Krabang, in eastern Bangkok, in 2008. It opened its third Toyota showroom and its second mall, Paseo Town, on Ramkamhaeng Road late last year.

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