In 2019, "Samyan Mitrtown" emerged as a mixed-use property, primarily focusing on the retail sector. At the time, sceptics wondered whether the project possessed the right mix to thrive in the shadow of the longstanding Siam Square complex and its established shopping culture. Within a few months of its launch, the onset of the Covid-19 pandemic further challenged Fraser Property Thailand’s latest addition to the retail landscape of its commercial business – Frasers Property Commercial (Thailand) (“FPCT”).
Despite navigating through such challenging circumstances, Samyan Mitrtown remained committed to its mission of community-centric success, aligning businesses with the needs of the community it served.
"Samyan is renowned for its heritage as a street food haven and educational hub. Therefore, Fraser Property Commercial (Thailand) has infused that essence into Samyan Mitrtown by adopting a 'being part of the community' approach for our retail tenants and consumers," explained Thiranant Kornsritipa, Executive Vice President of Retail Business Development at FPCT.
As Samyan Mitrtown celebrates its 4th Anniversary in September 2023, its retail division has witnessed over 40% growth in foot traffic, with a daily user count of 77,000. The property boasts an impressive total occupancy rate of 98% and achieved 97% renewal rate among existing tenants.
Samyan Mitrtown has conceptualised modern retail spaces designed to inspire daily experiences, built upon three key strategies: Mixed-Use Strategy, Creative Space for All, and Responsiveness to Trends.
Mrs. Thiranant Kornsritipa, Executive Vice President of Retail Business Development at FPCT
The success of a mixed-use property often hinges on its strategic location, connectivity to transportation options, and accessibility. In the case of Samyan Mitrtown, its Mixed-Use Strategy capitalises on its proximity to educational institutions and local schools. Here, students seek recreational activities after school hours. Samyan Mitrtown's trade partners, including light meal eateries, fashion outlets, and art-house entertainment venues, cater to the younger generation while also creating a robust ecosystem for working professionals and condominium residents.
Bangkok Street Performance
"Recognising that Samyan Mitrtown is an attractive destination for students and locals alike, FPCT strives to provide a Creative Space for All by incorporating the area's historical charm into shared-value experiences. Here, everyone can find enjoyment around the clock. Samyan Mitrtown is the first shopping mall in Bangkok's Central Business District to offer 24-hour operations and event spaces, allowing students to showcase their projects and advocate for equality and community needs."
In a bid to foster youth creativity, engage wider audiences, and unite communities, Samyan Mitrtown has collaborated with the Bangkok Metropolitan Administration (BMA) in promoting events and supporting community activities centred around music, arts, culture, and infrastructure improvements such as the Chuam Mitr road-crossing tunnel, sky gardens, and outdoor event spaces.
"One of the outdoor activities that draws a diverse audience to our space is 'Hello Hab-Re.' This event provides street food stall owners with a platform to sell their food and drinks to customers while preserving the spirit of Samyan."
Amid the digitally-driven lifestyles of today's emerging customers, Samyan Mitrtown has harnessed technology to boost engagement and remain responsive to trends. They seize opportunities from seasonal events in collaboration with BMA, such as Pride Month and Songkran Break, to bolster the growth of retail spaces by hosting exclusive events designed to attract more customers to the area.
"For instance, Samyan Mitrtown’s 'Lan nom' (milk bar), held in late December each year, has successfully attracted a large number of holiday enthusiasts, especially youngsters and families. Attendees are treated to the aroma and taste of toasted bread with a variety of toppings, along with beverages ranging from milk-based drinks to traditional Thai drinks and fruit and herbal juices, all while enjoying music from their favourite bands. This event serves as an alternative to the typical beer garden," shared Thiranant Kornsritipa, Executive Vice President of Retail Business Development at Fraser Property Commercial Thailand (FPCT).
Beyond seasonal engagement, Samyan Mitrtown has introduced the "Retail Sandbox" to support ongoing commercial trends among new entrepreneurs. This Retail Sandbox offers a non-contracted 20x30 sq.m. rental space for newcomers to test their products and services for a period of 3-6 months before launching officially. This space is particularly useful for businesses like coffee shops, allowing them to experiment with new coffee flavours and menus. Additionally, established brands have the option to use vending machines to launch their products, catering to the modern-day needs of consumers.
See by Ears, Hear by Heart
"From day one, Samyan Mitrtown made the decision to step out of its comfort zone and continues to grow with a passion for fulfilling the community's current and untapped needs. We are committed to identifying opportunities to develop Samyan Mitrtown as a community-centric space and inspire others to support the community," concluded Thiranant Kornsritipa.