Siam Future and Major Cineplex launch new joint venture to develop Major Avenue Ratchayothin 15,000 square meters of rental space available under Urban Chic concept

Entertainment Press Releases Thursday July 12, 2007 06:23

Siam Future Development Plc and Major Cineplex Group Plc have equally invested   in their joint venture Ratchayothin Avenue Company with its 100 million baht registered capital to be used to operate Major Avenue Ratchayothin, Siam Future Development’s Chief Executive Officer Nopporn Witoonchat said today.

Worth a total of 1 billion baht and managed by Mr. Somkit Tantadvanichkul, Major Avenue Ratchayothin will be partly opened at the end of this year and fully so by the second quarter of 2008.

Major Avenue Ratchayothin’s core target group are youths and teenagers from 15 years upwards who reside in Chatuchak, Ladprao and Bangkhen area, have mid-range earnings and income, and enjoy a comfortable lifestyle with a liking for mingling with new people and all kinds of entertainment.

Covering nine-rai land plot, Major Avenue Ratchayothin is divided into 2 zones as follows:
  • A 15-storey building with 29,000 with square meters of space with   1,300 square meters to be taken up by a supermarket, 3,500 square meters demarcated   as offices and 600 square meters for parking
  • 10,000 square meters of rental space

“Our experience shows that SF-operated shopping centers have been very well-received by the public with these ranging from J Avenue Thonglor 15, Esplanade Ratchada to La Villa Phaholyothin. This led to the initiative to realize a uniquely different concept with Major Avenue Ratchayothin epitomizing Urban Chic and reflecting the stylish lifestyle of urban people,” Mr. Nopporn said.

Mr. Nopporn added that Major Avenue Ratchayothin is able to accommodate 30,000 customers a day who can easily reach the stylish new complex by taking the green-line BTS to Ratchayothin station with the construction of this BTS station having started at the beginning of this year.

Not only would Major Avenue Ratchayothin help reduce the crowds in other shopping centers it would also draw movie-goers flocking to Major Cineplex and others who like bowling at its alleys. Famous shops such as Kanom, Starbucks, Fuji, Wine Connection, Ootoya, Infinite Gallery and McDonald’s have shown interest in opening outlets at Major Avenue Ratchayothin.

The company’s total rental space will be increasing to 260,000 square meters from 188,514 square meters in 2006 or 38% growth. This increase in rental space will boost the company’s revenue which is expected to rise by 20% this year.

Media Contacts:
Elizabeth Wongwasin, lisa@124comm.com
Kachaphob Sanguanwong, kachaphob@124comm.com
124 Communications Plc
Tel: 0 2662 2266 Fax: 0 2204 2662

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