Property developer Thaniya looks set to spend about 2 billion baht to renovate Thaniya Plaza on Silom Road and develop new projects for the elderly during 2020-22.
Tasnawat Sombuntham, the company's managing director, said of the total budget, 1 billion baht will be allocated this year to renovate Thaniya Plaza's office building and redo Thaniya Plaza's building B, which is connected to the skytrain station.
"This will be Thaniya Plaza's biggest makeover in three decades, covering the refurbishment of its exterior and interior design, as well as the transformation of Thaniya Road as a venue for various customer groups," said Dr Tasnawat.
He said Thaniya Plaza's new look will follow the concept "The Future of Thaniya", reinforcing its position as a landmark on Silom Road and showcasing its complete Golf Centre.
More attractive lifestyle shops, as well as a green area, will be added to the area to attract younger customers and tourists.
The first phase of the renovation will start in April this year for an office building, projected to be completed by the beginning of 2021. During the renovation, the business will continue operating without interference.
The second phase for the retail area will start next year and be completed in the middle of 2021. After the renovation, there will be 20% more retail space, totalling 12,000 square metres, of which 8,500 sq m is located inside building A (Atrium) on Thaniya Street, and 3,500 sq m inside building B (skytrain) on Silom Road. Two connecting bridges that link buildings will be located on the third and fourth floors.
Currently at the plaza, more than 80% of the tenants operate golf shops and the remaining 20% run Japanese restaurants.
After the renovation, about 50% will be golf equipment, 30% lifestyle products and services, including beauty clinics, dental clinics and beauty stores, and 20% will sell food products.
The company expects visitor numbers to increase to 10,000-20,000 from 7,000.
Dr Tasnawat said another billion baht will go towards building a facility for seniors via a joint venture with foreign partners.
This facility will be built on 10 rai in Cha-am district in Phetchaburi.
The company also plans to open Gardina Asoke, on a plot in Sukhumvit Soi 16 that was acquired last year.
"The retail landscape of Silom Road is expected to have significant changes over the next few years," he said.
More than 100,000 sq m in retail space will be added on the corner of Silom Road during 2020-25 from Dusit Central Park retail complex and Silom Square.