MegaBangna looks for investors

Posted by Hipflat 28 Feb 2017

Megabangna, what will eventually be Southeast Asia's largest low-rise 'super regional mall', is pushing forward with its vision of developing a 400-rai 'Megacity' on Bangna Trad Road, and is now on the lookout for investors.

The modern community will eventually be where 250,000 people a day will be able to live, work, shop and play.

The development, which will be realised over several phases, will add hotels, offices, residential and other types of mixed-use components with an estimated investment THB 67 billion.

The project will kick off with a THB 2 billion retail expansion that will add 40 restaurants, 1,200 parking spaces and a large Tops Food & Wine supermarket to the Megabangna shopping mall. Construction has already begun, and the extension is expected to open in December 2017.

Christian Olofsson, Managing Director of Megabangna & Megacity (SF Development Co., Ltd.), said: "Megacity will be a walk-able and well-connected community, where people can live and work within easy reach of the places they shop, meet, play and socialise,

"We intend to add housing for 50,000 residents, modern office towers for up to 30,000 workers, as well as two hotels and a large green space for the community."

The centre is opening its doors to other investors and developers who want to get in on the project's long-term plans for constructing apartments, offices, hotels and other types of mixed-use real estate.

Megabangna was the first shopping centre outside the Bangkok Central Business District to provide space for international fashion brands, flagship stores and trendy food concepts - bringing sophisticated retail to the suburbs.

Since its opening in 2012, Megabangna has attracted local and international retailers - and an average 3.5 million visits each month with an average customer growth of 10 percent each year. With a new multi-story car park and a new internal ring-road scheduled to open in Q3 2017, Olofsson expects to ease traffic congestion and make parking convenient for customers, even on peak days.

Hw said: "We expect the retail extension to increase visitation by 10 percent each month. We are excited to announce that, once again, we will offer food and beverage brands to our visitors that you would normally only find in the city centre of Bangkok, such as Dean & Deluca, Godfather, Bon Chon and a new Starbucks."

Two more retail extension phases, focused on entertainment, leisure, sport and education, are in the detailed planning stage and will be announced during the second quarter of 2017.

Property firm JLL has been appointed to facilitate the operator selection for the first hotel.

Suphin Mechuchep, Managing Director of JLL Thailand, said: "Megabangna sits at the crossroads of one of Bangkok's most dynamic areas.

"Bangna-Trad is one of Bangkok's fastest growing suburban markets, with more than a million people, many with high purchasing power, living in the vicinity. It is also host to a large number of successful businesses that are poised to continuing growing, supported by public infrastructure investment in the area and improving connectivity to resort and industrial destinations in the Eastern Seaboard.

"Planned investments such as the MRT Yellow Line and the BMA's rail line that will connect the BTS Sukhumvit Line with Suvarnabhumi Airport stand to support further growth in the area.

"With its strategic location abutting major arterial roads and expressways and future transit station, Megacity stands head and shoulders above the competition in catering to the needs of residents, businesses, and visitors to the area."

Nopporn Witoonchart, Director and Chairman of the Executive Committee of Siam Future Development Plc., said: "Bangna is an area with great potential, steady growth and a continuous boom of housing and property development projects.

"A proper city needs a strong retail core and community areas for residents and employees to enjoy and utilise, which is exactly what we are setting out to do with Megacity. We will continue to invest heavily into this destination but also actively looking for investment partners and developers that share our ambition and also see the opportunities presented here."

Thomas Malmberg, Shopping Centre Director of Ikano Retail Asia, added: "Megabangna's popularity is one reason we are so excited to take the next step in developing our mall – and creating a truly vibrant destination that, in future, will include offices, hotels, residential towers and other mixed-use components.

"Retail is our core business but we know that Megabangna has potential that goes well beyond being a great place to shop.

"We envision Megabangna and IKEA Bangna to be the centre piece of a modern community. Today, we take the first steps to create Megacity."

Investors and developers that are interested in freehold and leasehold land and development opportunities should contact Megabangna for more details.

This story was written by Andrew Batt, Head of Content at Hipflat,com. Contact him with your own news, views and comments at [email protected]