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.
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