Paradise Park to proceed with expansion plan in 2012
Depsite the massive floods and more intense competition in eastern Bangkok, MBK and Siam Piwat yesterday reaffirmed their plan for the second-phase expansion at their Paradise Park shopping complex on Srinakarin Road at a cost of between Bt700 million and
Paradise Park is the first joint-venture mall handled by MBK – which operates the MBK shopping mall – and Siam Piwat, the operator of Siam Centre and Siam Discovery Centre.
With 300,000 square metres of building area, the complex contains about 120,000sqm of rental space and houses more than 700 retail tenants.
Chadatip Chutrakul, vice president of the JV company Paradise Park, said earlier that the new lifestyle neighbourhood mall would be developed on an 8-rai (1.3-hectare) plot close to the existing complex at a cost of Bt700 million to Bt800 million.
Paradise Park’s assistant managing director for business promotion, Muenfun Thanyaphaisit, said yesterday that the company’s performance was quite satisfactory despite the flooding and more intense competition in the eastern Bangkok area where Ikea opened its first home-furnishing store in the city on November 3.
“The sales of our retail tenants grew by 20 per cent in the first 10 months of this year. Despite the floods, our major anchor tenants, including HomePro, Paradise Cineplex, Villa Supermarket and Sports World, have also achieved tremendous growth of between 10 and 20 per cent in November compared with the same month of last year,” she said.
“We expect the overall sales at our Paradise Park shopping complex to increase by 20 per cent for the full period this year.”
Paradise Park shopping centre and Thai Life Insurance have jointly launched the “Paradise World of Gifts 2012 by Thai Life Insurance”, a grand gift campaign running from this Friday to January 5. The Paradise World of Gifts dazzles with a “Modern Japan” theme and it is expected to boost the buying mood as the New Year festival season approaches.
“December is the month of festive celebration and shopping. Consumer spending skyrockets as they buy presents for themselves and others as well as spend for parties and celebrations throughout the month,” Muenfun said.
She added that the “World of Gifts” campaign was packed with special privileges as well as a “Discount-Win-Get” promotion.
