Bangkok Shopping Centre Business 2H 2023
The disruption caused by the competition for market share from E-commerce businesses, compounded by the COVID-19 crisis, has presented significant challenges for the retail sector in Thailand.
26 June 2024
Shopping centers in Thailand encompass approximately 15.3 million square meters of Gross Floor Area (GFA).
The overview of the retail business in Thailand reveals that shopping centers, including those operated by Central and Robinson groups, constitute approximately 27% of the market share, closely followed by hypermarkets with a share of around 28%. Major players such as The Mall Group hold a share of about 5%, while Siam Piwat holds 3%, LH Group, and Seacon Square hold around 2%, and Future Park, primarily owned by the Wanglee family hold around 1%. Other groups collectively account for approximately 32%.
The Net Leasable Area (NLA) of retail space in downtown and midtown areas of Bangkok totaled 3 million square meters at the end of the fiscal year 2566.
The overall picture of retail business centers in downtown and midtown areas of Bangkok at the end of the fiscal year 2567 reveals a total NLA of 3 million square meters, with 56% concentrated in downtown areas and the remaining 44% in midtown areas such as Silom-Sathorn (13%), Ratchada (10%), Sukhumvit-Phetchaburi (6%), Ramkhamhaeng (4%), and Phaya Thai-Bang Sue (4%). Towards the end of the year, a major new project, "The EmSphere," located near the BTS station at Phrom Phong, with a retail space of over 200,000 square meters, entered the market.
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