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23 May 2012 02:28AM

Community malls boom on changing lifestyle

21 Mar 11 ,  THE NATION
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Neighbourhood and lifestyle shopping centres in Bangkok and major provinces are the future wave in retail development due to the rapid change in consumer lifestyles, which demand greater convenience.

 

In Bangkok alone, neighbourhood centres are expected to double from less than 50 now to about 100 in 10 years, Somnuk Pojkasemsin, president of Siam Future Development, said last week.


Consumers now are more educated and prefer easy living, he said. They are shunning wet markets and looking for modern food shops and supermarkets near home.


CEO Nopporn Witoonchart, said Siam Future had developed about 30 neighbourhood centres over the past 16 years, with 220,000 square metres of combined retail space.


"We plan to open about two neighbourhood and lifestyle centres with retail space of 10,000-20,000 square metres every year," he said.


The company's Bt300 million lifestyle centre called Festival Walk would open in Phase 2 of Nawamin City Avenue in August with 8,000 square metres of retail space.


"We have seen great potential for the development of neighbourhood and lifestyle centres in Bangkok and the suburbs. Those community centres will proliferate along with the expansion of city and residential areas in Bangkok. Consumers have been shaped by urban living and lifestyles," he said.

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