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Old August 6th, 2010, 01:38 PM   #21
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Old August 8th, 2010, 12:11 AM   #22
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Old August 17th, 2010, 02:07 AM   #23
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New Paradise Park aims to attract high-end shoppers

Bangkokpost Published: 17/08/2010 at 12:00 AM


The Paradise Park Co, the joint venture between Siam Piwat and MBK, plans to use Paradise Park as a business model to expand its high-end shopping mall on the outskirts of Bangkok after receiving a warm response from the project's opening on Srinakarin Road earlier this month.


The company is looking for new locations for its Paradise Park brand that targets high- to middle-class suburban dwellers.

Chadatip Chutrakul, vice-president of Paradise Park, said the plan for a new shopping mall will be finalised in November.

With a 3.2-billion-baht renovation budget, Paradise Park, previously known as the Seri Centre, has a new interior and space for more than 700 shops. The shopping mall will have a 70-million-baht grand celebration on Aug 24 and 28-29.

"We want Paradise Park to be a high-quality shopping destination in eastern Bangkok. We hope our new look will boost the sales of our tenants," she said.

Paradise Park took over Seri Centre for over 975 million baht through the purchase of shares in Seri Centre Management Co. The shopping mall has five levels with a gross project area of 290,000 square metres and a rental area of 90,000 sq m.

After the launch, Paradise Park has a marketing budget of 300 million baht for July 2010 to June 2011 dedicated to 400 marketing events and activities, including continuous sales and promotional campaigns.

"We expect Paradise Park will break even within seven years after its opening, compared to an average of five years at other malls, due to the higher investment cost," said Ms Chadatip.

The project developer is confident of the market potential for this mall. Paradise Park fits the top-end segment in this area, she said. Central Bangna and Seacon Square have their own target groups, said Ms Chadatip.

Since the gradual opening of Paradise Park in March, regular customers have continued to visit the centre despite on-going renovations. When the mall opens for full service at the end of August, she expects it will register average traffic of 150,000 visitors per day from eastern Bangkok. It defines this area as eastern Sukhumvit Road, eastern Outer Ring Road, the motorway, Bang Na, Theparak, and the provinces of Samut Prakan and Chon Buri.
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Old September 8th, 2010, 01:31 PM   #24
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Old October 29th, 2010, 09:45 PM   #25
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MBK, Siam Piwat in JV for neighbourhood mall

The Nation Published on October 30, 2010


MBK, operator of MBK shopping centre, will next year launch its first neighbourhood mall to be developed under a 50:50 joint venture with Siam Piwat.

On a 6rai (1hectare) plot close to the Paradise Park shopping complex on Srinakarin Road, construction of the new neighbourhood mall will start by the middle of next year with an initial investment of Bt500 million.


Siam Piwat is the developer and operator of Siam Paragon, Siam Center and Siam Discovery shopping complexes on Rama I Road. MBK owns 35 per cent of Siam Piwat, and has a 50percent stake in Paradise Park.


The jointventure neighbourhoodmall project was announced at MBK's annual shareholder meeting yesterday.


Suvait Theeravachirakul, chief executive officer of MBK, said the company had been approached by the landlord of the 6rai plot, which would be under a longlease contract of 28 years.


"The new neighbourhood mall will serve a different segment of shoppers from Paradise Park, which is posi�tioned as the 'premium' shopping centre and serves B and Aclass shoppers," Suvait said. "Our new neighbourhood mall will serve Cclass people."


He said the Srinakarin Road project would be the first compact mall to be developed under a joint venture with Siam Piwat, after the Paradise Park complex, which was officially opened in August.


With a longlease contract of 14 years, MBK expects Paradise Park, which cost Bt3.2 billion to develop, to break even within seven years. The company also expects a 12percent return on investment from the pre�mium shopping mall.


Suvait said the company's wholly owned neighbourhood centre, The Nine, would be officially opened by next June on Rama IX Road. Its con�struction is 30 per cent completed.


He said MBK had invested Bt300 million in The Nine so far and expect�ed an additional Bt500 million to be put into the project.


Suvait said the company had acquired another 6rai plot on Ratchadaphisek Soi 17, which would be developed as a 10,000squaremetre mini shopping mall in the front and condominiums in the back. The total project will cost more than Bt1 billion, and construction on the mall will start by the beginning of next year.


At the shareholder meeting yesterday, MBK announced its performance for fiscal year 200910, ending June this year, with Bt8.5 billion in total revenue and Bt2.5 billion in net profit.


The company achieved Bt2.5 billion revenue from its service and rental business, Bt2.4 billion from sales, and another Bt770 million from hotel operations.
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Old May 16th, 2011, 12:20 PM   #26
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Old August 22nd, 2013, 11:59 AM   #27
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