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Thai Department-Store Chain Revives Plans for Expansion.
Byline: Sukanya Jitpleecheep
Sep. 2--The Mall department store chain is reviving its store expansion in Bangkok after dedicating its resources to opening a major complex in Nakhon Ratchasima last year.
The Mall Group is now close to finalising land leases with landlords for two sites in two prime locations. One is the site of the Siam Inter-continental Hotel Bangkok near Siam Square, and the other is at the New Mor Chit bus terminal near Chatuchak market, according to sources in the property market.
Executives of Bangkok Inter-continental Hotel Co (BIHC) and the Mall Group declined to confirm any imminent deal for the hotel site. However, they hinted that an agreement to develop a new project would be announced in the next one or two months.
BIHC, which also owns the adjacent Siam Centre and Siam Discovery complexes, had earlier announced plans to demolish the hotel at the end of next year and redevelop the prime site, which it leases from the Crown Property Bureau.
The two stores planned by The Mall are expected to cost three billion to five billion baht in all.
The Mall is likely to brand the new store at Siam Centre site as Emporium II, though the concept would differ from The Emporium, the luxurious store on Sukhumvit 24 where affluent families are the target market.
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