Thailand based TCC Land restructures its retail and leisure biz

TCC Land will hold the entire stake in the two new firms – TCC Land Asset World Leisure for its hospitality business, and TCC Land Asset World Estate Co for its retail and office building businesses.

Napat Charoenkul, managing director of retail business of TCC Land Estate World Co, who takes charge of six retail property brands, comprising Asiatique, Gateway, Center Point @Siam, OP Place, Pantip and Boxspace, said that this restructuring would make for more efficient management for each of the businesses.

Also, the company plans on investing around 5-20 billion baht over the next five years and plans to increase the total retail space from the current 150,000 square meters to  200,000 square meters by 2019. The company aims to boost its revenue from 900 million baht this year to three billion baht by 2019, he revealed.

This year, it will spend 650 million baht on renovating Gateway Ekamai, rebranding Digital Gateway Siam as Center Point of Siam Square and launching a new nightlife area Boxspace at Ratchayotin.

However, the company plans to change three branches of Pantip to new digital center with an investment of of 460 million baht in 2016. It will also invest 1.2 billion baht in the second phrase of Asiatique and spend 1-4 billion baht on setting up a new hotel and Asiatique Prime Pattaya.

Napat added that it was also considering the establishment of Asiatique as a lifestyle and shopping community, in Chiang Mai and Hua Hin. These two projects are scheduled to start in 2017-18.