THURSDAY, March 28, 2024
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Samyan Mitrtown targets younger Thais with hunger for learning

Samyan Mitrtown targets younger Thais with hunger for learning

GOLDEN LAND Property Development says its Bt8.5-billion Samyan Mitrtown mixed-use complex is 5 per cent complete, and should be ready to open by the fourth quarter of 2019.

The complex will comprise three different retail categories under one roof: dining, learning and living. Target customers are younger residents of Bangkok’s Samyan, Silom and Rama IV areas, as well as students, teachers and commuters travelling into the inner city via the soon-to-be-opened MRT Blue Line.
The project is being developed by Kasemsubbhakdi Co, a 49:51 joint venture between Golden Land and TCC Assets (Thailand) Co. The joint venture has Bt3 billion in registered capital.
It will take an estimated 10 years for the complex to break even taking into consideration investment and depreciation costs.
Golden Land won a 30-year lease for the 13-rai (2-hectare) plot from Chulalongkorn University.
The company has appointed Thai Obayashi Corp as its construction contractor. Construction kicked off early last year.
Thanapol Sirithanachai, president of Golden Land, said: “Thanks to the location, Samyan is a learning ground for more than 30,000 students and teachers, as there are many leading universities and schools in the area, including Chulalongkorn University, Chulalongkorn University Demonstration School, Triam Udom Suksa School, and Patumwan Demonstration School of Srinakharinwirot University.
“It is also close to office buildings in the Silom and Sathorn areas, and a number of condominiums.
“The MRT extension, to be completed in 2019, will link Samyan with Rattanakosin Island and old town areas and hence boost traffic as well as create independent services.
“Samyan is famous among food lovers and students. Its remake will draw both residents and people from outside the area, making this a perfect location for a mixed-used development,” he said.
The complex is being developed under the concept “Urban Life Library”.
“The ‘library’ in our idea is not the old-fashioned one, but a centre of products and services,” Thanapol said. “In this regard, we are focusing on two products – food and knowledge. Samyan Mitrtown will be the gathering place for academic persons, a centre of talents. Meanwhile, we are promoting life-long learning among adults, who may want to find a place to learn how to make a particular dessert or to paint.
“We are set to be the centre of food and knowledge for urbanites.
“The concept will draw traffic. Aside from the demographics of our target groups, psychographics will bring more learners and food lovers to Samyan Mitrtown, with support by social-media marketing and travel convenience.
“Thanks to social media, we can reach more people,” he said.
Thanapol said foreigners were not the main target of Samyan Mitrtown, given the large number of Thais yearning for this kind of development. Nevertheless, Samyan Mitrtown may draw some foreigners who want to taste authentic Thai food.
Meanwhile, the MRT extension will turn Samyan into a gateway to Chinatown and Rattanakosin Island, which may draw some foreigners to the project.
Samyan Mitrtown will be able to accommodate 20,000 visitors a day, and it is located in an area that houses more than 200,000 inhabitants. Its gross floor area will be 222,000 square metres.
The six-storey retail area will have 36,000sqm of net leasable area; the Grade A 32-storey office tower will have about 48,000sqm of net leasable area; and the “Neo Explorer Living Platform” will be a 33-floor residential zone including an hotel and a 554-unit condominium.
 

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