Hua Hin Asset Company, a joint venture between the Umpujh and Liptapanlop families, will allocate an additional 2-3 billion baht to build new attractions and develop a residential project for the second phase of its Bluport Hua Hin Resort Mall, which is due to open next month.
The new expansions will push the overall budget for the project to 8 billion baht.
Supaluck Umpujh, Hua Hin Asset's vice chairman, said the second phase will be built on a 25-rai plot located behind the Bluport shopping project over the next two years. The new development will respond to increased tourism in Hua Hin.
"We believe in the potential of Hua Hin, which TripAdvisor has ranked fifth among the top 10 tourist destinations on the rise in Asia," she said.
The government's plans to expand Hua Hin airport near the subdistrict of Ban Bo Fai in Prachuap Khiri Khan, along with the high-speed train project to the resort town, reflect Hua Hin's growth potential.
Ms Supaluck, also vice-chairman of The Mall Group, has suggested that the government build a port in Hua Hin to attract more tourists, particularly foreigners. The port would become a new transport alternative for Hua Hin.
"If tourists can conveniently travel to Hua Hin, they will stay longer and spend more money. This will benefit the Thai tourism industry in the long run," she said.
The Bluport Hua Hin Resort Mall, located opposite Intercontinental Hotel Hua Hin, is due to open on Oct 1. The company will spend about 200 million baht on its official launch, which is expected to bolster Thailand's tourism industry and overall economy, as well as solidify the country's retail status in Asean.
The shopping project has 200,000 square metres of space, of which 50,000 sq m has been allocated for a department store. Another 25,000 sq m has been set aside for a shopping plaza, 10,000 sq m for a supermarket, 15,000 sq m for a theme park and pedestrian footpaths, while the remaining 100,000 sq m is for parking.
Daily visitors are expected to number 20,000 during weekdays and 40,000 at the weekend. Hua Hin Asset forecasts its annual retail sales at 7 billion baht and expects to break even within seven years.
Ms Supaluck said the Bluport Hua Hin project represented a new milestone for The Mall Group, which has a lot of retail experience in Bangkok, having developed The Mall, Siam Paragon, and the Emporium and Emquartier shopping malls.
Due to increased tourist arrivals, the group has focused its expansion efforts in Hua Hin, Phuket, Pattaya, Chiang Mai, Chiang Rai and Koh Samui.