Paradise Park Co, the developer of Paradise Park shopping complex on Srinakarin Road, will spend 700-800 million baht on a second mall next year.
Vice-president Chadatip Chutrakul said the addition will be built on 8 rai of land next door to the current Paradise Park, which was formerly called Seri Center.
Construction will start next year and take 18 months. Funding will come from cash flow and bank loans.
The company is now deciding on a concept, probably a lifestyle neighborhood mall, said Mrs Chadatip, who is also the chief executive of Siam Piwat, the developer of Siam Center and Siam Discovery Center.
It will have a different name and feature retail space of 20,000-30,000 square metres.
Mrs Chadatip said the second phase will serve a long waiting list of tenants wanting to open an outlet in Paradise Park, mainly fashion, IT and home decoration retailers.
"This new development will complement Paradise Park," she said.
Paradise Park sees 100,000 visitors a day, 15% of them expats, with average spending of 7,000 baht.
New tenants planned for the present mall will include Basic House casual clothing from South Korea and La Senza's sexy lingerie from Canada.
A 60-million-baht marketing campaign will be held from Sept 23-25 to celebrate Paradise Park's first anniversary.
The shopping centre recorded sales of 1 billion baht in its first year of operation, slightly higher than forecast thanks to higher-than-expected rental fees from clients hosting marketing events.