Despite the saturated computer market, Great China Millennium (Thailand) has opened a three-floor information technology zone at its Palladium World Shopping Centre in the busy Pratunam area.
The company is offering free rent for one year, a bold move aimed at attracting tenants, particularly from the popular IT shopping mall Pantip Plaza, which has been under renovation since early this year.
The 100-million-baht IT shopping zone, called Palladium IT Pratunam, has tenancy for all its 250 shops. Some 50 of the tenants had relocated from Pantip Plaza.
Pantip Plaza closed part of its facilities for renovation in a drive to position itself as a digital lifestyle centre focusing on mobile devices. But the renovation work has been long-delayed.
Wunlop Kamolvisit, deputy managing director of Prommaharaj Land Development Co.
Global IT research firm IDC Thailand said consumer IT spending was expected to reach 180 billion baht this year, but would fall to 179 billion baht in 2016.
Wunlop Kamolvisit, deputy managing director of Prommaharaj Land Development Co, the parent firm of Great China Millennium (Thailand), said the company still foresaw demand for consumer IT products, which play an important role in people's everyday lives.
Great China took over the Pratunam Centre in 2010 and renamed it Palladium World Shopping Centre.
Mr Wunlop said the company spent 100 million baht renovating the fourth, fifth and sixth floors, with a combined 30,000 square metres of usable space.
"We are positioning our complex as a new IT hub in the heart of Bangkok, in the most well known shopping area among locals and tourists," he said.
The company is spending 20 million baht promoting the complex.
Mr Wunlop said the Palladium IT Pratunam occupies more than 90% of the total rental space.
The number of visitors is expected to double to 80,000 a day after the IT zone opens, he said.
Pornthep Watchara-amnouy, vice-president for products and services of Advice Holdings Group, a leading IT wholesale firm, said he decided to relocate from Pantip Plaza to the Palladium IT Pratunam because of the declining number of visitors because of the renovations.