Demand grows for bangkok suburban malls

Demand is growing for suburbam malls in Bangkok, according to new figures.

Research by CBRE Thailand shows that in Q3 2015, the total Bangkok retail supply was 7.0 million sq.m., increasing by 6.3 per cent year-on-year with an additional 162,058 sq.m. of net lettable area in six new retail centres.

The volume of occupied retail space was 6.4 million sq.m., up 3.2 per cent year-on-year. However, the overall occupancy rate dropped to 91.2 per cent due to the major renovations of many retail centres in Bangkok. 

In September 2015, Thailand’s Consumer Confidence Index (CCI) decreased to 73.4, compared to the average CCI of 75.5 in Q2 2015. The retail sales index was at 201.58 as of July 2015, increasing by 2.8 per cent on quarterly basis, but down 1.5 per cent year-on-year.

Benchmark indicators were Tesco’s Like-for-Like sales growth of 3 per cent year-on-year during July to August 2015 and CP All’s 7-Eleven same store sales increase of 1.6 per cent in Q3 2015; however, Big C’s same store sales dropped by 5.2 per cent annually in the same three-month period.