The supply of retail space in Bangkok has risen by 12.7 percent to 7.437 million square metres this year, the highest growth in ASEAN, even as consumer purchasing power remains weak.
More than 165,690 sq m of retail space was added to the market in the third quarter of 2015. The fourth quarter will see an estimated 186,500 sq m added by 10 new projects such as TCC Group’s The Street community mall on Ratchadaphisek Road, The Zpell at Future Park Rangsit (officially opening today with 100,000 sq m) and Central Festival East Ville on Pradit Manutham Road (also opening today with 150,000 sq m).
Most of the retail projects opening in the fourth quarter are in Bangkok and its suburban areas. Shopping centres and community malls are boosting the supply of retail space. Community mall space is nearing 1 million sq m, up from 300,000 sq m in 2007.
(Source: Bangkok Post)