Families join forces to build community mall
Bt800m Maze Thonglor scheduled for opening in late 2014
The Phornprapha and Puengboonpra families have collaborated to invest in an Bt800-million community mall in Bangkok’s Thong Lor area.
Piphon Puengboonpra and Khunnicha Phornprapha said they had formed Happy Billion Co to develop a lifestyle shopping mall called Maze Thonglor on a 1.07-rai (1,700-square-metre) plot on Thong Lor Soi 4. The construction area is 6,600sqm, and the mall will have 3,000sqm of retail space for 25 shops.
Each floor will comprise a shopping zone. The first floor will house cafes, coffee shops and bakeries; the second floor is reserved for all kinds of international restaurants; beauty and spa outlets will be on the third floor; there will be a yoga centre on the fourth floor; and the rooftop will have wine and cocktail bars.
Maze Thonglor is a-four-and-a-half-storey open mall with a two-level underground parking garage that can accommodate up to 60 cars. The mall is designed with an all-around 4-metre-high glass ceiling that will provide a flow of ventilation.
Construction is scheduled to begin in February and it is to be ready for operation by the end of next year after a total investment of Bt800 million.
The project’s main targeted group is young working people with modern lifestyles and residents living in the Sukhumvit area, as well as people in 5-kilometre radius aged between 20 and 25 years with monthly incomes over Bt25,000.
“Even though there are various retail outlets in the Thong Lor area, the location and differentiation of our retail shops will definitely make Maze Thonglor the destination for lunch gatherings and nightlife,” Piphon said. “Currently there are more than 50,000 households, more than 70 condominiums and more than 60 serviced apartments in the area, so there is still business opportunity for a new retail project.”
The company targets breaking even within seven years. It recently opened for space reservations and with its prime location, the project is expected to draw strong response and could be fully booked by retailers by the first quarter of next year.
