Retail property in Bangkok is showing signs of continued development as construction levels recover following floods in 2011.
This is according to new figures by CB Richard Ellis (CBRE), which showed 500,000 sq m of retail space will be completed by the end of 2012, if developers’ predictions remain on track.
James Pitchon, executive director and head of CBRE research in Thailand, said: “All retail stores closed during the floods were reopened and retail sales improved. The two key trends are community malls in Bangkok and expansion of major retail developers.”
He noted that CPN – the country’s leading retail property developer – is looking to open a further five new malls upcountry by the end of this year.
Total retail supply in Bangkok increased to 5.75 million sq m in quarter one of 2012, a five per cent year-on-year rise.
Dan Tantisunthorn of Jones Lang LaSalle recently stated that this boom is due to higher incomes and continued economic growth.
Article by +James Roberts on behalf of Propertyshowrooms.com
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อ่านเพิ่มเติมได้ที่…Bangkok retail property ‘robust’
Bangkok retail property 'robust'
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