Golden Land goes sleepless

Golden Land goes sleepless

Developer to launch 24-hour retail site

An artist's conception of the Samyan Mitrtown project on Rama IV Road.
An artist's conception of the Samyan Mitrtown project on Rama IV Road.

SET-listed developer Golden Land Property Development Plc looks set to launch the first 24-hour retail site in inner Bangkok at mixed-use complex Samyan Mitrtown in September, planning to tap rising demand from the younger generation, including students, freelancers and first-time workers.

Some tenants at the new development include Big C, Swensen's, Kerry, Fitness First and banks, said Thiranant Kornsritipa, the developer's executive vice-president of retail business.

"Operating 24-hour retail is not easy," she said.

"Key factors are location, customer traffic and a mix of tenants that should meet the needs of late-night users."

Ms Thiranant said people's lifestyles have changed. Those staying up late at night are not only the young and students but also workers.

Delivery service Kerry Express can serve online sellers who want to ship items at all hours, as some do not want to queue up to use the delivery service during the day.

Samyan Mitrtown is valued at 9 billion baht and will be located on the corner of Rama IV and Phaya Thai roads in the Sam Yan area.

It will consist of 516-unit leasehold condo Triple Y Residence, which is 32% sold, office space with a lettable area of 48,000 square metres, which is 40% pre-leased, and retail area of 36,000 sq m for six storeys, which is 80% booked.

A total of 5,000 sq m on four storeys in the retail space will comprise the 24-hour zone, dubbed Never Sleep Mitr. Space is 90% pre-leased.

The largest area is a co-learning space with 1,398 sq m that is free to use.

The biggest tenant will be Fitness First, occupying 1,204 sq m, followed by Big C Food Place with 1,149 sq m an a new 24-hour supermarket model, offering ready-made and quick-serve meals.

GOLD shares closed on Monday on the SET at 8.45 baht, up five satang, in trade worth 16.7 million baht.

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