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Published on April 9, 2008

After operating United Krungthong Trading for 30 years, distributing leading foreign watch brands such as Playboy, Titoni and Cacharel, the family moved into the development of wholesale centres for fashion apparel and accessories with the launch of Krungthong Plaza seven years ago on New Phetchaburi Soi 21.

The company last year set up a subsidiary called Krungthong Real Estate to develop the 90-unit Varadom Place housing project on Srinakarin Road, opposite the Seacon Square shopping mall.

The Bt300-million Krung-thong Plaza located on New Phetchaburi Soi 17 houses 161 tenants selling fashion apparel, bags, footwear and accessories. Under the management of its new subsidiary Krung Thong Union, the three-storey centre is expected to break even in five to six years.

"Our first Krungthong Plaza wholesale centre has been a great success, with total rental space of 10,000 square metres and about 400 tenant stores. It attracts 6,000 to 7,000 shoppers a day. We expect the second complex to achieve the same result," said managing director Anchalee Tantivongsakij.

With rental space of about 6,000 square metres, the second Krungthong Plaza will cater to the growing demand of small retailers not only in the capital but also from upcountry. About 70 per cent of the customers are expected to come from  provinces such as Phuket, Hat Yai, Chachoengsao and Chiang Rai.

"We have positioned ourselves as a medium-size wholesale centre so that retailers can come and make their purchases in a short period of time," Anchalee said.

"We will promise our tenants not to raise the rent for six years," she added. Current rates for the eight-square-metre shops range from about Bt7,000 to Bt23,500 a month depending on location.

Kwanchai Rungfapaisarn

The Nation