Terminal 21 mall aims for July opening

Terminal 21 mall aims for July opening

L&H Property Co is set to open its 6-billion-baht retail project Terminal 21 on Sukhumvit Road in July next year.

Prasert Sriuranpong, the company’s executive director, said construction of the Terminal 21 complex was 80% complete and 70% of the 45,000-square-metre space had been booked by tenants.

The complex is being marketed under an urban street-market concept, similar to shopping experiences in Paris, London, Tokyo or Istanbul, Mr Prasert said. In addition to brand-name fashion boutiques, the mall will include about 600 street vendor-like shops on four floors.

The company is in talks with two or three supermarket chains for the complex. It expects 50,000 visitors on weekdays and 40,000 on weekends and aims to break even within seven or eight years. Sales revenue is projected at one billion baht in the first year.

The target group is middle-income workers, as they spend a great deal on fashion. Thus, the complex will have a strong emphasis on the fashion retail segment as the target group loves to mix and match brands to create their own styles, he said. The project is being run by the Fashion Island mall’s management team.

After four or five months, L&H’s Centre Point will provide 500 serviced apartments in a 20-storey tower in the same compound.

Source: Bangkok Post