Mega complex to be constructed in Hua Hin, Thailand

buy costa rica real estate

costa rica oceanfront real estate

costa rica real estate listings

Retail project worth of an estimated THB 5 billion is to be developed by The Mall Group, Thailand’s second-largest retail chain, together with the Liptapanlop family.

The 50:50 joint-venture involving the development of a large-scale shopping and entertainment complex would be opened in Hua Hin, Thailand. The collaboration between The Mall Group and Proud Group will involve Proudputh running this project, whose the daughter of veteran politician and chief adviser of Chart Pattana Puea Pandin Party Suwat Liptaponlop.

Named as The Mall Hua Hin, this mega complex will site opposite Intercontinental Hua Hin Resort and in close proximity to Hua Hin Market Village. Sitting on a 20-rai plot on Phestkasem Road, this development will offer 80,000 to 100,000 sq m of retail space. It will comprise The Mall department store, retail plaza, entertainment anchors, financial service area, international fashion brand name stores and a five-star hotel.

Set to begin construction works early next year, it is scheduled to be completed in 2014.

This is the second provincial branch for the Mall Group after the Mall Korat in Nakhon Ratchasima, and this will also be the eighth retail project for them.

With a growing interest that began five years ago, Hua Hin offered an attractive market for investors. It transformed the quaint little resort town in Prachuap Khiri Khan province into a tourist hotspot. New property developments that included hotels, resort condominiums, hospitals and theme amusement parks have risen in the area. Two million visitors were said to travel there last year.

The Mall Group is currently in talks of launching the second branch of The Emporium in 2014.

Having recently won a bid to operate 2,700 sq m of commercial space at Don Mueang Airport, The Mall Group have plans to invest THB 200 million in an F&B themed venue, named “Wonder Food of Asia”. Operations are expected to begin on 1 October 2012.

Sales of The Mall Group hit THB 45 billion this year and is expected to reach THB 50 to 60 billion within three years.

Interested to find out more about such property development? Visit our website for Real Estate Investment World Asia 2013 for more information. The conference will be held from 25-27 June 2013 at Marina Bay Sands, Singapore.