Text: Phuket Square Co, the operator behind Jungceylon shopping center in Phuket, is planning to open its first community mall, Mille Malle, in Bangkok during the first quarter of next year. The mall is being constructed on a one-rai plot on Sukhumvit Soi 20 with a budget of 300 million baht, according to CEO Pravit Janyasithikul.
Despite the development of numerous community malls in Bangkok over the past couple of years, Mr. Pravit believes there is still room for growth in this appealing market segment. Mille Malle will encompass 6,758 square meters of retail space and host 25 tenants, including a supermarket, bakery, restaurants, and other services.
The CEO envisions the mall as an attractive dining and hangout spot for those in the Sukhumvit area. Mille Malle aims to attract 3,000 weekday visitors and 5,000 daily weekend visitors, with a target of breaking even within 11 years. The mall’s target demographic includes middle- and upper-income consumers living within a 5-kilometer radius of Sukhumvit, as well as patrons from approximately 30 luxury condominiums, hotels, and office buildings in the vicinity.
Major anchors at Mille Malle will comprise a 24-hour Max Valu Tanjai mini-supermarket, Yamagoya ramen restaurant, and Zen Cucina. The mall will also provide parking for 100 vehicles. Retail space rents are set at approximately 1,000 baht per square meter per month, with 50% of the space already booked. In its first year of operation, the company anticipates earning 26 million baht in rental fees.
With construction 70% complete, the new mall is expected to generate around 50 jobs. Phuket Square is also scouting for additional land plots to develop more community malls in the future.
