Megabangna’s Official Launch Construction Commenced; Financial Support Obtained

Construction News

Megabangna’s Official Launch Construction Commenced; Financial Support Obtained

Megabangna has commenced construction and is now officially launching for lease to leading retailers. Development of the project is backed by a Baht 6.5 billion credit facilities package provided by a bank consortium comprising Siam Commercial Bank and KBank.

megabangna 3Located on Bangna-Trad Km.8, Megabangna is developed by SF Development Co., Ltd., an international joint venture between Siam Future Development PLC, Ikano Pte. Ltd. and S.P.S. Global Trade. Upon completion in Q1 2012, it will be South-East Asia’s first low-level regional mall as well as home to Thailand’s first and the region’s largest IKEA Store.

Siam Commercial Bank’s President Mrs. Kannikar Chalitarporn expressed complete confidence in the project’s potential: “We are delighted to take part in inspiring Megabangna’s imminent success with a Baht 6.5 billion credit facilities package. Siam Future Development has a wealth of experience in shopping centre development and management, while the involvement of Ikano — who manages a part of IKEA’s retail network, spanning 300 stores in 36 countries — will give Megabangna a unique appeal that is sure to elicit positive responses from consumers.”

KBank Executive Vice President Mr. Predee Daochai also believes the mall possesses many qualities that will make it a triumph: “Ikano and Siam Future’s experience is an excellent guarantee of the project’s success for both partners and consumers. A great location and outstanding partners like Major Cineplex, HomePro, Big C and IKEA will definitely help Megabangna realize its staggering potential as the ultimate shopping destination.”

“KBank is confident that Megabangna will become one of Bangkok’s best shopping centres, and we are proud to play a part in its development as well as that of the Thai economy.”

A Unique Recipe for Success

megabangna 1Positioned as ‘a mall for the many’, Megabangna promises to deliver an unprecedented one-stop shopping experience for consumers of all demographic groups.

“We want to make Megabangna the ultimate place for families — a place that offers maximum convenience for shoppers and generates long-term value for tenants,” said SF Development’s Chief Executive Officer Mr. Nopporn Witoonchart. “With only two levels of retail and ground-floor parking for 8,000 cars, we are the only shopping centre to offer this level of simplicity and convenience in South-East Asia.”

One of the complex’s most outstanding features is Thailand’s first IKEA Store. Scheduled to open in November 2011, the store will be IKEA’s largest retail outlet in Southeast Asia and Thailand’s biggest furniture mall.

Mr. Tom Huzell, Managing Director of Ikano Pte. Ltd., believes that IKEA will be a hit in Bangkok: “We believe IKEA is one of the world’s top retail brands. We offer over 10,000 well-designed products in stores that have proven to be resounding successes in this region. Our stores in Kuala Lumpur and Singapore are the 5th and 12th most visited IKEA outlets in the world, so we have high expectations for Bangkok.”

Complementing IKEA’s offerings will be over 60,000 home improvement products and services from HomePro, while families looking to pick up everyday supplies will be more than satisfied with Big C Supercenter’s well-stocked hypermarket. Visitors looking for vibrant entertainment will not be disappointed by top-class Major Cineplex cinemas, Blu-O bowling alleys and Sub-Zero ice skating rink.

Major Cineplex Group PLC Chairman Mr. Vicha Poolvaraluck was enthusiastic about Megabangna’s future as the most comprehensive shopping centre in Thailand — a sentiment also shared by HomePro Senior Vice President of Business Development Mr. Vathunyu Visuthikosol and Big C Supercenter Senior Vice President of Properties Praphan Eamrungroj.

Ready for Lease

megabangna 2With construction now under way, future tenants can take advantage of the opportunity to share in Megabangna’s success by committing their brands and concepts as part of the estimated 400 tenants, who will — upon completion — occupy Megabangna’s 180,000 square meters of net leasable area.

Megabangna will provide unprecedented breadth and depth in all key product categories and create a tenant mix that will give shoppers the ultimate in choice of leading international and local operators and retailers. A comprehensive commercial calendar designed to ensure a constant flow of innovative activities and promotions will also attract repeat visits and generate customer loyalty.

Megabangna is undergoing development in the safest of hands. Siam Future Development PLC, holding a 49% stake in SF Development Co., Ltd., has been Thailand’s leading shopping centre developer in the neighbourhood mall segment since 1994 and is currently managing 30 centres nationwide.

Ikano Pte. Ltd., a franchisee of Inter IKEA Systems B.V., also owns 49% of SF Development Co., Ltd. The company currently operates IKEA Stores in Malaysia and Singapore as well as an Ikano shopping centre in Malaysia. Aside from handling operations of the IKEA Store, Ikano will be a joint partner in the development of Megabangna — making the company both a landlord and a partner.


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