Gaysorn Property Co is due to open the 3.5-billion-baht Gaysorn Village tomorrow, a new mixed-use project at the Ratchaprasong intersection.
The company has taken about two years to transform Gaysorn Plaza mall to a stylish shopping village with popular destinations. The old Gaysorn Shopping Centre was known as the first luxury mall in Bangkok.
Other magnets include Gaysorn Tower, an office tower using the concept "work-live-play-grow", and Amarin Plaza, a mall that offers big brands and various street food. Amarin Tower is the third magnet.
Charn Srivikorn, Gaysorn Property chairman, said the first phase of the refurbishment of areas covering Gaysorn Shopping Complex and Gaysorn Tower has been completed and seen a 75% increase in retail space and 400 % increase in office space.
The company will start to renovate and reposition the Amarin Plaza with 55,000 square metre gross floor area and Amarin Tower with 21,000 square metres next year. The completion date for Amarin Tower is 2018, and for Amarin Plaza 2020.
"Gaysorn Village is about life and style. We are going forward to give experience to customers, preparing ourselves for competition with each shopping district in Bangkok amid consumers' eagerness for e-commerce," Mr Charn said.
Currently, there are several retail districts in Bangkok including along Ratchaprasong intersection, Phrom Phong and Rama 9 Road. But there are several more new retail districts coming in the future including Samyan and Bang Na area.
The Samyan venue is the main plot for mixed-used megaproject, The One Bangkok, developed by billionaire Charoen Sirivadhanabhakdi, while Bang Na area will have huge shopping complex for The Mall Group.
Mr Charn said the company is focused on connecting the community together seamlessly. The Ratchaprasong Walk opening tomorrow is expected to be used by 90,000 people daily, with the number set to rise with rising tourist arrivals.
The opening of Gaysorn Village is expected to increase sales and revenues to exceed 4 billion baht a year for Gaysorn Property, and double the number of visitors to 30,000 visitors by the end of this year.
Korakot Srivikorn, executive director, said in October Gaysorn Village will offer concept restaurants including Burger & Lobster, and French bakery Maison Eric Kayser.
Also located in Gaysorn Village is Lonely Two-Legged Creature, a fashion brand with a stylish bar by Duangrit Bunnag. It is also home to the biggest flagship store of Erb's spa products.
Fafuen Temboonkiat, the company's managing director, said 85% of the space of 22,750 sq m in Gaysorn Tower is leased out. It expects to be fully occupied by year-end.