Fairy Bridge Holdings Co, the 40-year-old textile company, is branching out to develop its first wholesale complex, costing 1.5 billion baht in Udon Thani and slated to be ready by the end of this year.
An artist’s conception of the new Udon Thani project.
Managing director Panjaporn Phatanapitoon said after her family supplied fabrics to garment companies for four decades, she saw an opportunity to move into the wholesale market and chose Udon Thani as the first destination.
Udon Thani has strong economic potential as it's a trade centre and transport hub for the Northeast. The province also can draw Laotian customers.
"The establishment of the Asean Economic Community at the end of 2015 will bring a lot of opportunities for wholesale business in Udon Thani," she said.
Over 60% of international trade between Thailand and neighbouring countries occurs near the borders.
The company is set to spend 600 million baht to develop 168 Platinum, a wholesale complex on 44 rai on Bunyahan Road in Udon Thani's Muang district, 3.5 kilometres from the airport.
This new wholesale project will have a total usable area of more than 52,000 square metres for 1,168 shops, which will offer a variety of fashion products, restaurants and banks.
The development has two phases, with the first comprising 679 shops and the second adding 489 shops. Project construction is 40% complete and is slated to finish in the first quarter of 2014.
Fairy Bridge offers two lease contracts to tenants: three years or 30 years.
168 Platinum has a modern architectural design with open-air retail space designated for men's and women's fashion apparel, children's clothes, leather goods and accessories.
The mall will provide products for both local retailers and wholesalers from neighbouring countries such as Laos, Vietnam and China. As an alternative supplier outside Bangkok, it has 600 parking spaces.
The project's interior space will feature the Asian Market, Siamese Market, Laotian Market and Chinese Market.
The company will officially open space for booking on June 15. The soft launch in May saw 70% of space reserved for the first phase.
About the author
- Writer: Pitsinee Jitpleecheep
Position: Business Reporter