Retail in Asia

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Thailand’s first resort-style shopping mall to open in late 2012

Promenada Resort Mall Chiang Mai, a resort-style shopping mall in Thailand, will open in late 2012.

The THB2.9 billion (USD94.4 million) project is built on 58 rai of land and has been designed to blend in with the vibrant city lifestyle and surrounding "close-to-nature" feel of Chiang Mai.

"Promenada Resort Mall Chiang Mai has been developed on the understanding that Chiang Mai is largely untapped in terms of retail possibility, and ECC is the first developer to deliver a large-scale mall offering a different and innovative experience to shoppers," said Tjeert Kwant, president & CEO and shareholder of ECC Real Estate.

According to Kwant, there are spending power demands of a very large population in Chiang Mai which are not being met, partly because of the market size and partly because people are demanding more from their shopping experience right now. A visit to the mall is a leisure pastime where shoppers expect good quality dining, relaxation areas, recreational activities, fresh air, art, concerts and so on besides the shopping facilities.

Promenada taps into that growth area and will serve these escalating needs with a resort-style mall, together with 18 Rai of open air park including 150 meter length of terraces, an outdoor theatre, waterfalls, lush greenery and a wide range of leisure activities.

"Our tenant mix features well-known national and international brands together with strong retailers from the northern region. Retailers have contributed to the development of the resort mall concept by giving input based on their experience of retailing in Thailand and specific knowledge of the Chiang Mai market. We can cooperate with them in this way as our objectives are aligned. We focus on being a marketing-driven landlord with the goal of optimising the performance of each tenant, and the overall performance of our shopping malls. This is the kind of partnership we have had with all of our tenants in the last 20 years. This total package results in a highly attractive regional destination offering what we call ‘More Than Just Shopping’, and will enjoy a great number of visitors as a result," said Kwant.