Boutique looks ahead as Rainy Hill kicks off

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Kwanchai Rungfapaisarn
The Nation February 22, 2012 1:00 am

Managing director Prab Thakral said the new project would be on a 5-rai (8,000-square-metre) plot with gross leasable space of about 20,000 square metres.

He said the company would announce details of the project in the next few weeks.

"We have acquired the plot on Sukhumvit with a long lease period of about 30 years. Construction of our new brand-extension retail project will start next year and will take about 18 months," Prab said.

He said the new project would position itself for mid-market retailing, a little lower than its Rain Hill community mall, which targets the upper mass to high-end markets.

"Thailand is experiencing a consumer-driven boom because of its fast-growing middle class. The opportunity for retail is quite large in the Kingdom," Prab said.

The Boutique Group yesterday officially opened its Rain Hill community mall, which has been developed under the concept of "The Cosmopolitan Hangout".

Located on Sukhumvit Soi 47 in the heart of Bangkok, the mall, which cost more than Bt400 million, features more than 40 leading brands, hand-picked to cater to the urban lifestyles of the capital's residents.

The retail complex is designed to be an ideal meeting place of a true eco-conscious retail mall and a hip urban lifestyle, the group says.

Prab said the community mall would turn this location into the newest favourite among target customers, including business professionals in the Sukhumvit area, Japanese expatriates, and residents of Sukhumvit, including the Oakwood and Citadines projects.

"We expect our Rain Hill retail complex to achieve its return on investment within the next five to seven years," he said.

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Boutique looks ahead as Rainy Hill kicks off