Bangkok property developer Sun Assets Global, a subsidiary of Nimit Group, is scheduled to launch The City Viva community mall on Sathorn Road next month.
According to reports, 92 out of the 280 planned shops have already opened, while the rest are expected to open in May.
Managing Director Suriya Ampaporn revealed that after the soft launch last month, the mall was patronised by about 1,000 to 1,500 visitors per day. He also noted that the number of visitors, particularly those aged 22 to 40, will increase during the official launch.
Situated on a 3.25 rai plot, the THB1 billion mall (US$33.1 million) is the first retail development from Sun Assets Global. It has a total area of 9,500 sq m, 4,500 sq m is available for rent and 5,000 sq m is reserved as open-air areas for various events.
The company expects to produce rental income of THB10 million (US$332,000) a month and to break even within 10 years.
According to Mr. Suriya, “We don’t have any plans to launch new retailers this year or in the next five years from now, although we have undeveloped land in 40 to 50 locations nationwide.”