Retail supply in Bangkok continuous growth despite economic crisis

Good news to all Thais, despite the economic crisis retail supply stores in Bangkok, Thailand continuous to grow.

This was revealed in the latest report released by Colliers International, one of the highly respected real estate consultants in the world.

Colliers International said Thai developers are pushing ahead with plans for new retail stores in Bangkok withstanding the economic slowdown of most economies around the world.
The highly respected real estate consultant said nearly 700,000sqm of new retail space is expected to come online in Bangkok this year, adding to the 4.97m that existed as of end 2008.

It added that by 2011, retail space is expected to have increased by as much as 27 percent.
Colliers recounted at the end of last year, shopping malls accounted for 59.9 percent of all retail space in the capital, followed by hypermarkets at 13.4 percent and community malls at 7.39 percent.

The remaining space consisted of department stores, entertainment complexes or specialty stores.

The data further revealed that the overall occupancy rate for retail space in 2008 averaged 94.7 percent, but varied depending on location and business category.