Thai corporation’s Central Group has just announced intentions to spend over USD 85 million in 2022 for the development of a new lifestyle retail mall at Wong Amat Beach in Pattaya.
According to Central Group’s head of corporate business development, the construction of the one-story lifestyle retail mall will be divided into two phases. The first will open by the end of 2022, while the second phase is scheduled to open in 2023.
Beach Village is one of Central Group’s retail developments under its roadmap to develop a new retail mall every 2-3 years. Each new mall will require an investment of USD 14 million to USD 19 million, depending on the location and the land the company owns.
Central Group describes Wongamat Beach Village as a new ‘unique natural beach park & lifestyle mall’, with around 20 premium Thai and international restaurants, cafes, souvenir shops, lifestyle stores, and a supermarket. Each unit will have a space of 100-200 square meters.
Central Group wants to target Thai and foreign travelers with high purchasing power, local residents, as well as expatriates living in Thailand. It aims to appeal to families, couples, and groups of friends, with the aim of attracting at least a million visitors a year.
(Sources: The Bangkok Post; Nikkei Asia)