Thailand's Central Retail Corporation has agreed to a US$19.5 million (598 million baht) deal to open its first store in Jakarta, according to a report from Indonesia.
Grand Indonesia Shopping Town announced on Thursday that it had signed a deal to host Central’s flagship store in the Indonesian capital.
“We believe Central Department Store will be able to give new excitement and variation for our customers and also support our position as the most successful integrated complex,” Grand Indonesia chief executive Tessa N Hartini told the Jakarta Globe.
Ms Hartini added that the store would cover an estimated space of 21,000sqm and the total investment value would reach up to US$19.5 million.
Yuwadee Chirathivat, chief executive of Central Department Store, said that the outlet was expected to open in September 2014.
“Now we are preparing our impressive store design, exciting merchandising, which is young, fun and easy to navigate. This will be our flagship store in Indonesia,” Ms Chirathivat said.