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Resort Mall eyes revenue of Bt7 bn in first year

Sep 20. 2016
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SUCHAT SRITAMA

THE NATION

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THE BLUPORT Hua Hin Resort Mall is scheduled to open its doors on October 1 and cater to the growing tourism market, with revenue of Bt7 billion targeted in the first year of operation.

 

 The mall’s developer, Hua Hin Asset – a joint venture between The Mall Group and Proud Real Estate – said the project covered 200,000 square metres at a development cost of Bt5 billion.

Supaluck Umpujh, vice chairman of Hua Hin Asset, said the mall would become a new magnet to attract both Thai and foreign tourists into Hua Hin.

“The new mall is expected to attract 20,000 visitors per day during the low season, rising to 60,000 during the peak season,” she said.

Of the Bt7 billion in revenue expected to be generated in the first year, the joint venture anticipates about Bt2.5 billion will come from the mall’s department store, she added.

According to tourism data, Hua Hin is the fourth most popular Thai destination, with tourist arrivals of 6 million last year, higher than Chiang Mai, which had around 5 million.

The top three destinations were Bangkok, Phuket and Pattaya, with 23 million, 15 million and 10 million tourists, respectively.

Hua Hin is also home to more than 15,000 expatriates.

Pasu Liptapanlop , executive director of Hua Hin Asset, said the Bluport Hua Hin Resort Mall was the latest project undertaken by the Liptapanlop family, led by Suwat Liptapanlop, a former deputy prime minister.

The family currently operates a theme park and three hotels in the area, with a further hotel under development.

Pasu said Hua Hin Asset was now considering the second phase of its Bluport Hua Hin project, under which it might develop more attractions as well as residential units on a plot of land next to the new mall.

Such additional development is expected to be seen in the next two years, he added.

The executive director also said the company planned to operate or manage seven more theme parks in Thailand and overseas, including one in Phuket that would be double the size of the water park in Hua Hin.

 

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