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Old September 1st, 2009, 11:38 PM   #1
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BANGKOK | Paradise Park Srinakarin Redevelopment News

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http://www.skyscrapercity.com/showthread.php?t=937812

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Old September 1st, 2009, 11:40 PM   #2
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MBK, Siam Piwat taking over Seri Center

Bangkokpost September 17, 2008


After attempting for 14 years to establish its presence in the capital's hotly contested retail market, the operator of Seri Centre has decided to sell the business for 975 million baht to MBK and Siam Piwat.

MBK, the operator of MBK Centre, and Siam Piwat, the operator of Siam Center and Siam Discovery, said in a joint statement yesterday that their boards had approved the investment in ordinary shares of Seri Center Management Co (SCM), owned by Premier Group, and that the transaction was completed on Monday.

MBK president Suvait Theeravachiraku said the SET-listed company bought 169,997 ordinary shares, or approximately 50%, in SCM at 2,867.28 baht each, costing 487.42 million baht.

Siam Piwat, an associate in which MBK holds a 30.72% stake, purchased 170,000 shares, or 50%, in SCM at the same price, totalling 487.43 million baht.


After the acquisition, MBK will directly and indirectly hold 65.36% in Seri Center Management, thus SCM will be its subsidiary.

''Our investment objective is to increase the revenues of the shopping centre business for MBK,'' Mr Suvait said.

Last year, income from retail businesses accounted for 30% of MBK's total revenues.

The hotel business _ the Pathumwan Princess, Sheraton Krabi Beach Resort and Royal Princess Ranong Hotel _ contributed 18% and the remaining 52% came from rice trading, property and other businesses.

Seri Centre, which covers 150,000 square metres, has been operated by SCM since 1994. The company last year reported a net profit of 17.09 million baht on total revenues of 466.59 million. Its assets were 1.89 billion baht and its liabilities 1.46 billion.

A market analyst said there was huge potential to expand the retail business in the Srinakarin area in the future because of the changes in demographics in the area since the opening in 2006 of Suvarnabhumi Airport.

Currently, there are about 100 property projects taking shape in nearby areas, bringing about 50,000 new families or 200,000 people into the area served by Seri Center.

With this in mind, many retail developers have expanded into the area. They include Central Retail Corporation's Market Park, which recently opened in the Udomsuk area, the analyst noted.

MBK shares closed yesterday at 68.50 baht, down 50 satang, in trade worth 375,000 baht.



Seri Centre, which covers 150,000 square metres, reported a net profit of 17.09 million baht last year. There is huge potential to expand the retail business in the Srinakarin area in the future because of the changes in demographics in the area since the opening of Suvarnabhumi Airport, notes an analyst.
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Old September 1st, 2009, 11:42 PM   #3
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Web Site

http://www.paradisepark.co.th/






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Old September 2nd, 2009, 11:52 PM   #4
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Siam Piwat has Bt5-billion war chest

THE NATION Published on August 19, 2009


Siam Piwat, operator of Siam Discovery and Siam Centre shopping malls, has budgeted Bt5 billion to invest in property projects over the next three years. \

The budget includes Bt2 billion for taking over and renovating the Seri Centre complex on Bangkok's Srinakarin Road, in partnership with MBK.

Renovations are under way and will be completed next March. A budget of Bt975 million has been set for the purchase of Seri Centre, while another Bt1.1 billion will be spent on refurbishment.

The shopping complex, occupying 90,000 square metres of retail space, officially changed its name to Paradise Park yesterday.

"We want to upgrade the place so that it's similar to [high-end] downtown shopping complexes," said CEO Chadatip Chutrakul.

The project will change the retail business environment and boost living standards in the Srinakarin area, as no new shopping malls have been opened there over the past 10 years, she said.

The Paradise Park shopping |complex is expected to see a 25-|per-cent rise in the number of |shoppers compared with Seri Centre traffic, to about 90,000 people a |day.

The investment will break even within five to seven years. About 70 per cent of the retail space has already been booked by tenants, she said.

Siam Piwat, in partnership with MBK, has also taken over the Premier Rama IX commercial complex, which will be redeveloped into a community mall.

The investment totals Bt800 million, including the price of the land. Siam Piwat and MBK will spend Bt400 million each on the community-mall project, which will be reopened by the middle of next |year.

"Siam Piwat is focusing on investing in promising commercial properties during the current economic situation. We're also interested in hotel, office and other retail properties in Bangkok," said Chadatip.

Another two new developments will be unveiled in the final quarter of this year, with one located downtown and the other in the suburbs of Bangkok.

"Prices for land and property rose sharply four or five years ago, particularly in prime locations. However, they are now more realistic and affordable," said Chadatip.

At good locations, prices have fallen by 20-30 per cent from last year, while competition in the retail industry is now less intense.
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Old September 4th, 2009, 10:48 PM   #5
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Seri Center to get B1bn overhaul Mall to reopen as Paradise Park

Bangkokpost Published: 19/08/2009 at 12:00 AM


Seri Center, the first major shopping mall in the Srinakarin area, is undergoing a 1-billion-baht facelift to compete with its neighbouring rival Seacon Square in luxury, variety and feel.

Siam Piwat and MBK, which bought the property in September last year for 975 million baht, are investing because they feel Seri Center has lost out to Seacon Square and must be rejuvenated to meet a new challenge and shoppers' increased expectations.

The 1.02-billion-baht renovation of the 15-year-old complex is scheduled to be completed in March next year. The updated complex will be renamed Paradise Park.

"Paradise Park will be the new shopping paradise of Eastern Bangkok," said Chadatip Chutrakul, vice-president of Seri Center Management Co Ltd, a joint venture between Siam Piwat Co and MBK Plc.

With more than 30 years' experience in retailing, the partners are combining to promote Paradise Park not only to local shoppers from Bangkok and Chon Buri but also - in co-operation with tour agencies - to tourists returning to Suvarnabhumi Airport.

"It has a huge opportunity in this location because nobody has developed a new shopping centre from Sukhumvit Road to eastern Bangkok in the past decade. It has only two competitors - Central Bang Na and Seacon Square - in that area," she said.

According to the company's survey, the area's 28,000 families have an average household income of 134,712 baht per month. Monthly personal income is 58,316 baht and average expenditure per month is 28,742 baht.

The five-story Paradise Park will have a gross area of 290,000 square metres. Each floor will be divided into different concepts. The mall will have a 5,000-sq-m gourmet supermarket, a fashion avenue, a Loft department store, a Digital World, a HomePro and Sky - a pioneering outdoor rooftop Sunday market with more than 100 shops.

The complex is designed to meet demand from the area's shoppers for a variety of stores, convenient location and appealing image. The primary targets are upper- and middle-income consumers - individual shoppers, families and expatriates.

About 70% of space at the mall has been booked and the company expects the remaining space to be booked within the next one or two months.

The company expects to spend 50 million baht on the official opening and to allocate at least 250 million to promoting the complex.

"Our U-shaped shopping centre will be more unique than our competitors and will be the second home of shoppers," she said.

Shares of MBK closed yesterday on the SET at 57.25 baht, down 1.75 baht in trade worth 160,000 baht.



Mrs Chadatip and Suwet Theerawachirakul, president of Seri Center Management Co, show off the new look. PATTARACHAI PREECHAPANICH
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Old September 10th, 2009, 10:43 PM   #6
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Old September 13th, 2009, 07:14 PM   #7
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Old November 4th, 2009, 08:38 PM   #8
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Old November 9th, 2009, 11:33 PM   #9
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MBK on expansion drive

THE NATION Published on October 30, 2009


MBK Co plans to spend Bt2 billion to Bt3 billion a year between now and 2014 to take over potential property projects and develop hotels/resorts, shopping centres and residences.

The move is part of expansion efforts aimed at ensuring revenue growth.

The company operates MBK Centre, one of its main businesses, but leases the land from Chulalongkorn University. It expects its rent to increase with the new lease to be signed in 2014, president and CEO Suvait Theeravachirakul said yesterday.

He said shopping centres and residential projects were areas of potential expansion, because both enjoyed strong demand.

The company is now developing two shopping malls in Bangkok that will open at the end of next year: one called The Nine, on Rama IX Road; and Paradise Park on Srinakarin Road, the former Seri Centre.

The Nine was originally designed as a community mall, but MBK has decided to turn it into a mixed-used project by adding an office building with use space of 8,000 square metres. This will raise the cost of the project to Bt1.2 billion.

MBK also owns 400 rai of land in Pathum Thani province located close to a golf course and which is being developed as a residential project. It will be ready at year-end.


Another 150 rai on Koh Samui is being considered for a hotel or resort. Between 400 and 500 rai in Phuket has been earmarked for a mixed-used project containing both residences and a hospitality business. And 18 rai in Pattaya, on which a hotel now stands, will be renovated and turned into a mixed-use project after the hotel's lease expires in 2013.


MBK recently expressed interest in becoming more involved in the hotel business and has had several offers from hotel-owners.

"We may or may not invest. It depends on what kind of a deal we can make," Suvait said.


The company's top earners are shopping centres (35 per cent of revenue) and rice (32 per cent). Other core businesses are hotels and resorts, residential projects, golf courses and miscellaneous operations.

Due to the economic downturn that began last year, MBK expects combined revenue for the fiscal year ending next June 30 to grow only 1-2 per cent. Only one of the group's businesses - shopping centres - is expected to record revenue growth, because the company raised vendor rents 5-10 per cent, Suvait said.

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Old December 22nd, 2009, 12:26 PM   #10
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Old December 22nd, 2009, 04:59 PM   #11
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Quote:
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Really a paradise! Is it near the Srinakarin road?
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Old December 24th, 2009, 11:03 PM   #12
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Old January 4th, 2010, 07:09 PM   #13
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Old January 5th, 2010, 07:32 PM   #14
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It is amazing and so beautiful...
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Old January 13th, 2010, 05:26 PM   #15
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Old January 17th, 2010, 11:36 PM   #16
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Before Renovate

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Old March 9th, 2010, 09:34 PM   #17
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Siam Piwat investing B2.5bn

Bangkokpost Published: 5/03/2010 at 12:00 AM


Siam Piwat Co, the operator of Siam Center, will continue its expansion plan this year by increasing the budget for its Paradise Park shopping complex on Srinakarin Road while allocating some funds to renovating its Siam Center complex.


"We're a little bit worried about political unrest but we won't stop our investment. It's part of our daily life and nothing will last forever. Life will go on. No matter what will happen at the end of the day, our country will be there," said Chadatip Chutrakul, the CEO of Siam Piwat Co.

The company has increased the investment budget for its joint-venture development Paradise Park shopping mall on Srinakarin Road by 25% to 2.5 billion baht, she said. The extra 500 million baht will be spent on security and working systems, with some budget going to renovating Siam Center, starting next month and due to complete this year.

The 290,000-square-metre Paradise Park will open for service by 50% in April and by 100% in June this year. All 90,000 sq m of rental space have already been booked by leading local and international tenants.

Villa Market will be one of the mall's magnets, with a new store concept covering 3,600 sq m, its largest ever space. The 80-million-baht store will be the first premium supermarket in the east of Bangkok.

Paradise Park will aim for a wide demographic, ranging from children and youths to families and senior people.

"It will become the number-one choice among discerning shoppers residing in the eastern part of Bangkok because we will provide services and sentimental value they cannot find from other retailers," said Mrs Chadatip.

Srinakarin Road has plenty of scope for Paradise Park, even if the road has many retailers, and the complex should break even within seven years, she said.

Paradise Park was developed by Seri Center Management Co, a joint venture between Siam Piwat Co and MBK Plc.

Sales of Siam Piwat this year are expected to grow by 7% and net profit by 10% to 15%.
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Old April 6th, 2010, 09:30 PM   #18
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Quote:
Originally Posted by TECHMAN View Post









...
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Old July 21st, 2010, 02:55 PM   #19
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Originally Posted by TECHMAN View Post

















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Old July 27th, 2010, 04:20 PM   #20
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Quote:
Originally Posted by vacuum_car View Post
วันนี้ไปเดินมาครับ เอาบรรยากาศมาฝาก ที่จริงมีรูปอีกเยอะ เดี๋ยวจะทยอยเอามาลงครับ

Royal Park Plaza


หน้า Loft
..
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