Retail in Asia

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Malaysia’s land costs maroon Thailand’s HomePro

Thailand’s Home Product Center Plc (HMPRO), operator of the HomePro chain, has delayed plans for a branch in Kuala Lumpur, its most attractive expansion destination, until 2014 due to skyrocketing land costs.

Nat Charitchana, a senior vice-president, on Monday said the land deal for the Malaysian branch has not yet been finalised, as land costs have soared incredibly.

A shopping mall or department store in Malaysia requires a large piece of land, as a large number of parking lots is needed, he said.

(Source: Bangkok Post )