Car agent enters realty
The third generation of the Inthraphuvasak family, one of the country's major importers and distributors of luxury cars, has set up a company to diversify into lifestyle property.
The project will be the first community mall on Bangkok's Rama III Road.
The company is looking towards developing other lifestyle property projects such as boutique apartments in the future.
Vutthisak, managing director of Int Intersection, yesterday said he had amassed many breakthrough ideas from his almost 10 years of study in the United States in the field of graphic design, as well as from his extensive travel to countries in Europe and Asia.
"I plan to apply the outstanding characteristics and design elements from those community malls I experienced from travelling abroad to my lifestyle community-mall project," he said.
On a 4-rai (6,400-square-metre) plot on Rama III Road between Sois 38 and 40, the mall, named Int-Intersect, will have 10,000sqm of space on two floors, of which 6,000sqm will be rental space. The mall will contain 37 tenant shops.
About 70 per cent of the construction work has been completed and the mall will be officially opened during the first quarter of next year.
Anuwat, who is assistant managing director, said the lifestyle community mall was targeted to break even within seven years.
"We have conducted an in-depth consumer survey in the Rama III area, finding that there are about 200,000 households within a 5-kilometre radius of the community mall, with more than 600,000 people in total," he said. "About 90 per cent of them live in condominiums, of which there are more than 10 projects in the area.
"Major office buildings in the area include Bank of Ayudhya's headquarters, employing 3,000 people, and GE Capital Building, with more than 500 staff.
