Seacon Development to Invest 5 Billion Baht in Major Revamp of Seacon Square Srinakarin
The ambitious project will introduce the new MyScape area, enhancing the shopping experience in East Bangkok.
Seacon Development Public Company Limited has announced an extensive 5 billion baht investment aimed at the major redevelopment of Seacon Square Srinakarin, a significant shopping center in East Bangkok.
The announcement, made by Managing Director Tatiya Sonsathikul, marks the company's first major initiative in over six years and outlines a five-year development plan commencing from 2023 to 2027.
The investment is poised to enhance the shopping center's competitive edge and modernize its facilities, with half of the budget, approximately 2.5 billion baht, allocated for the development of a new area named MyScape.
This 40,000-square-meter space previously housed a Robinson department store, which ceased operations last year after its lease expired.
The remaining budget will be directed towards improving other areas within the shopping complex.
The MyScape project, which commenced development earlier this year, aims to create a unique hub for specialty brands, structured around four main zones catering to diverse lifestyle preferences: MyPulse for active individuals; MySelf for those seeking to express their distinct styles; MyChill-Out designed for relaxation and social gatherings; and MyDineScape, a premium dining zone offering an elevated culinary experience.
Tatiya mentioned that the MyScape area is set to differentiate Seacon Square from other shopping centers by integrating specialty zones and attractions, aspiring to become a new landmark in Bangkok that resonates with the lifestyles of modern consumers.
Despite current economic challenges, Seacon Development is committed to long-term investments, drawing on a history of resilience over the past 30 years, particularly in retail, where they have consistently seen growth, with the exception of the COVID-19 pandemic.
Tatiya emphasized the company’s focus on creating a positive workplace culture, developing talent, and evolving the shopping experience to meet rapidly changing consumer preferences.
In additional redevelopment efforts, Seacon Square is also developing the MUNMUN SRINAKARIN project, designated as Thailand's first art and craft shopping destination covering over 27,000 square meters, alongside renovating a portion of the existing space to enhance dining and entertainment offerings for families.
A new direct connection to the Yellow Line subway will be constructed, along with an additional parking building capable of accommodating 2,000 more vehicles, increasing overall capacity to over 10,000 vehicles.
Furthermore, Seacon Bangkae is set to undergo a transformation encompassing 2,000 square meters to enhance its retail offerings, introducing notable brands across various sectors to cater to the younger demographic.
Dr. Jakrapol Chantawimol, the Director of Marketing Communication at Seacon Development, highlighted the importance of innovative marketing strategies and unique events to attract increased foot traffic, targeting a growth of 20% in customer visits.
In conjunction with expansion plans, the company is committed to sustainability, implementing measures to reduce emissions and enhance energy efficiency, including a solar rooftop initiative and a new air-conditioned bus stop powered by solar energy.
The enforcement of the 'No Mixing' project intends to tackle urban environmental issues by promoting effective waste separation among tenants in the shopping centers.
In the last fiscal year, Seacon Square reported revenue of 3.345 billion baht, representing a 12% increase from the previous year, with expectations of further growth of 8-10% this year.
The announcement, made by Managing Director Tatiya Sonsathikul, marks the company's first major initiative in over six years and outlines a five-year development plan commencing from 2023 to 2027.
The investment is poised to enhance the shopping center's competitive edge and modernize its facilities, with half of the budget, approximately 2.5 billion baht, allocated for the development of a new area named MyScape.
This 40,000-square-meter space previously housed a Robinson department store, which ceased operations last year after its lease expired.
The remaining budget will be directed towards improving other areas within the shopping complex.
The MyScape project, which commenced development earlier this year, aims to create a unique hub for specialty brands, structured around four main zones catering to diverse lifestyle preferences: MyPulse for active individuals; MySelf for those seeking to express their distinct styles; MyChill-Out designed for relaxation and social gatherings; and MyDineScape, a premium dining zone offering an elevated culinary experience.
Tatiya mentioned that the MyScape area is set to differentiate Seacon Square from other shopping centers by integrating specialty zones and attractions, aspiring to become a new landmark in Bangkok that resonates with the lifestyles of modern consumers.
Despite current economic challenges, Seacon Development is committed to long-term investments, drawing on a history of resilience over the past 30 years, particularly in retail, where they have consistently seen growth, with the exception of the COVID-19 pandemic.
Tatiya emphasized the company’s focus on creating a positive workplace culture, developing talent, and evolving the shopping experience to meet rapidly changing consumer preferences.
In additional redevelopment efforts, Seacon Square is also developing the MUNMUN SRINAKARIN project, designated as Thailand's first art and craft shopping destination covering over 27,000 square meters, alongside renovating a portion of the existing space to enhance dining and entertainment offerings for families.
A new direct connection to the Yellow Line subway will be constructed, along with an additional parking building capable of accommodating 2,000 more vehicles, increasing overall capacity to over 10,000 vehicles.
Furthermore, Seacon Bangkae is set to undergo a transformation encompassing 2,000 square meters to enhance its retail offerings, introducing notable brands across various sectors to cater to the younger demographic.
Dr. Jakrapol Chantawimol, the Director of Marketing Communication at Seacon Development, highlighted the importance of innovative marketing strategies and unique events to attract increased foot traffic, targeting a growth of 20% in customer visits.
In conjunction with expansion plans, the company is committed to sustainability, implementing measures to reduce emissions and enhance energy efficiency, including a solar rooftop initiative and a new air-conditioned bus stop powered by solar energy.
The enforcement of the 'No Mixing' project intends to tackle urban environmental issues by promoting effective waste separation among tenants in the shopping centers.
In the last fiscal year, Seacon Square reported revenue of 3.345 billion baht, representing a 12% increase from the previous year, with expectations of further growth of 8-10% this year.
