year end 2010 | RETAIL
thailand
Bangkok Retail Market REPORT
Bangkok Retail Market Executive Summary Around 185,000 sq m of retail space was completed for the whole of 2010. For Q4 2010, five community malls came online adding approximately 38,000 sq m of space to Bangkok. The big story of Q4 2010 and probably 2010 was the purchase of Carrefour by the Big C hypermarket chain. This will consolidate the hypermarket sector into something resembling a duopoly between Big C and Tesco. market indicators 2009 - 2010 Supply rentals Occupancy
As in the Carrefour bid, some jockeying for position for existing retail centres could occur due to the impending Retail and Wholesale Act which will constrain the development of new large retail centres in urban Bangkok. Older retail centres continue to renovate in order to successfully compete with newer retail centres with modern designs. Small rises in rentals and occupancy were recorded for 2010 despite the dislocations resulting from the protests from March to May. Ongoing demonstrations in the Rajaprasong intersection pose further challenges for retailers in the area and could escalate in what is likely to be a frenetic election year.
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