DCM-Solutions awarded the main contract works of the Promenada Shopping Center in Chiang Mai, Thailand.
Netherlands-based mall developer ECC International Real Estate Hanoi announced plans to invest 400-500 million USD over the next five years to develop five to six malls in Vietnam and Thailand.
Its first resort-style mall, to cost 2.9 billion baht (96 million USD), is scheduled to open in the Thai city of Chiang Mai next December.
Tjeert Kwant, president and chief executive officer of the company, said ECC will announce its first project in Vietnam , a mall in HCM City , in the next three months.
“Vietnam is recognised as a different kind of market from Thailand, and our first shopping mall in HCM City will have a ‘downtown mall’ concept with a small footprint and maximum utilisation of retail space,” Kwant told the Thai English language newspaper The Nation.
The company decided to shift its investment focus from Europe to Southeast Asia around six years ago since the continent’s shopping-mall market was reaching saturation.
“We are entrepreneurial, and we have started our business in Thailand with a good feeling. We feel the potential is 100 percent both in Thailand and Vietnam ,” Kwant said.
Promenada Chiang Mai/Thailand
In Thailand, the ECC Group will develop “Promenada Chiang Mai”. This Shopping Center, with 75,000 m2 of retail space, is expected to be completed in Q3 2011 and upon completion will usher in a new standard for destination malls in Northern Thailand. An innovative mix of international and local fashion brands is also a matter of importance.
This project represents an investment of US$ 88.5 million. Promenada Chiang Mai will offer employment to more than 3,000 Thais and will start in the second period of 2009. The building project will also provide thousands of jobs to local workers.
We understand that Julian Old’s DCM-Solutions has been awarded the main contract works of the Promenada Shopping Center in Chiang Mai, Thailand. http://www.dcm-solutions.com/thailand-construction-news-detail.php?ID=N-1106-00003
DCM is proud to announce the recent signing of the LOI for the main contract works of the Promenada Shopping Center in Chiang Mai, Thailand.
The Promenada is a unique shopping experience because it is a “Resort Mall” with resort style shopping. The Promenada will include open-air areas integrated into shopping areas to allow for a more fulfilled shopping experience.
Some of the unique features of the Promenada will include a fountain with water shows, an open-air theater, themed zones, child edutainment center, and much more.
The Promenada Chiang Mai is DCM’s largest single contract to date and we’re thankful to ECC for entrusting their first project in Thailand to us.
To see more about the development, please visit the developer’s website: www.eccrealestate.com.
The Mall @ Canary, a higher-end modern, international standard, shopping and entertainment centre will be the first and largest of its kind in Binh Duong Province, comprising 82,000 sq.m of exciting retail space over four levels targeting a catchment area of over a million people within a 10 km radius. The Mall @ Canary will be positioned as a large-scale higher/middle class level, regional destination shopping mall catering to a large population in the region, offering visitors a full day of shopping and entertainment with an emphasis on leisure, recreation, dining and retail.
The Mall @ Canary offers an optimum mix of flagship stores, where international brands blend with local brands, combined with the feeling of experiencing the finest in an ambiance of comfort, pleasure and ease.
The Mall @ Canary will offer shoppers exclusive hospitality, exciting shopping, and innovative entertainment facilities. Fashion shows and music events will be organized frequently to enliven the dynamic character of the Mall @ Canary which will also include the following facilities:
– Hight-quality multiplex, sports and other leisure/entertainment facilities;
– An international food court, speciality restaurants and coffee shops;
– Speciality shops such as electronics and home furnishings stores;
– Education centres; and
– Various retail consumer services such as banking
With this project the ECC Group and Guoccoland are responding to an increasing demand for higher quality retail destinations in Vietnam. The Mall @ Canary will be developed and operated by the ECC Group, a leading shopping centre developer and manager, specializing in emerging markets. The ECC Group is taking its success and expertise from developing leading shopping centers in Eastern Europe by expanding their activities into Southeast Asia with a focus on large scale retail developments in Vietnam and Thailand.