• 
• 

Published on February 7, 2008

"This is our first major renovation of Fashion Island in 13 years of operating the mall," said executive director Prasert Sriuranpong.

Prasert said the company had to renovate the shopping complex, because residents living nearby on Ram-Indra and Suwinthawong roads in Min Buri district were large-income clients with high purchasing power.

Fashion Island's new look will be more modern and create a warm welcome for family clients, the main target group, Prasert said.

Renovations will start next month and be complete the middle of next year.

In addition, Siam Retail Development plans to expand the shopping area by building a Hybrid Mall on 14 rai of land. It will be aimed at creating a Lifestyle Centre and one-stop shopping mall connected to Fashion Island. However, the company could not disclose an investment budget or time frame for this project.

Prasert said the company recently spent Bt150 million to purchase 34 rai of land to increase the area of Fashion Island to 121 rai, from 87 rai now. The company will create at least 100,000 square meters as the new retail area of Fashion Island.

"This is our long-term investment," he said. "I target completion for this project in six years. After that, Fashion Island will be a super-regional mall in this zone."

Last year, Siam Retail Development generated revenue of Bt960 million from Fashion Island, up 9.5 per cent from 2006. The company expects revenue to increase 7 per cent this year and to maintain this rate after renovations are complete.

Nalin Viboonchart

The Nation