bangkok retail market report q3 2011

8/3/2019 Bangkok Retail Market Report Q3 2011

1/10

Q2 2011 / Q3 2011

new Supply

RenTAlS

occupAncy

Bangkok RETaIL MaRkETThAilAnd

.rs..t

Bangkok Retail Market

highlighTS

Supply rwth slws q/q fr Q3 2011 with just rud 11,000 sq m bei cmpleted i thefrm f e cmmuity mll.

The busy shppi ses beii i Q4 will be ided by the scheduled dditi f

260,000 sq m f ew retil spce l with the repei f the whle f Cetrlwrld

Retls rtes esclted q/q by rud 0.3% d te up icresed by pprximtely 0.2% fr

the sme perid.

Lre scle retil cetres i the uter city re t be expded.

Bc t the future fr std le supermrets.

Trditil plyers pl t mderize d expd.

Q3 2011 | RETAIL

mARkeT indicAToRS

AddiTionAl Supply by QuARTeR

Surce: Clliers Itertil Thild Reserch

apprximtely 11,000 sq m ws cmpleted i Q3 2011 i the Suburb

B Est re frm The nie neihbrhd Ceter. Usully this

qurter is quiet i terms f ew supply f retil cetres s develpers

prefer t hve rd peis t cicide with the beii f the

freetic shppi ses i Q4.


2/10COLLIERS INTERNATIONAL | P. 2

Cmmuity mlls re ever ppulr feture f the retil mret. The

nie neihbrhd Ceter is ew cmmuity mll Rm 9 rd i

Suburb B Est, develped by MBk Plc. d cmprisi eiht

buildis with ttl f pprximtely 11,000 sq m.

Cetrl Ptt Plc. repeed Cetrl Plz Ldpr 28 auust 2011,

fter it clsed fr six mths fr revti with CPn spedi

pprximtely 900 milli bht fr redecrti f the whle plz. The

most signicant change is the modern interior and exterior design in line

with recet CPn develpmets.

Bi C hs luched ew stre frmt with Bi C Jumb cteri t

whleslers d shpeepers. Bi C pls t che mre brches f

ex-Crrefur stres t this mdel which will be i direct cmpetiti

with Mr whlesle cetres.

BAngkok RETAIL MARkET REPoRT | Q3 2011

nerly 50% f ttl retil spce i the B re is lcted utside

the urb re; due t Suburb B bei residetil re,

therefre develpers fcus retil prjects. My lre shppi ml ls

d hypermrets re lcted i Suburb B d budt

supply f ld plts is still vilble fr lre scle retil prjects.


bReAkdown of ReTAil SpAce in bAngkok by locATion, Q3 2011


3/10

cumulATive of fuTuRe Supply in bAngkok by yeAR And cATegoRy, Q3 2011

bReAkdown of hiSToRicAl TAke-up RATe of ReTAil SpAce by locATion, Q1 2010 Q3 2011

COLLIERS INTERNATIONAL | P. 3



The future supply scheduled t be cmpleted i the lst qurter f 2011

muts t mre th 260,000 sq m, with pprximtely 215,000 sq m

as shopping malls. A signicant amount of space will come from Central

Rm 9 d Termil 21, with mre th 124,000 sq m d bth prjects

re scheduled t pe i Q4 2011. I dditi, Cetrlwrld is slted t

repe the remii secti tht ws dmed i the My 17 rits,

icludi Ze deprtmet stre. This is t icluded s ew supply.

Te up rte fr retil i B is similr t the previus qurter, lthuh smll icreses were reistered i ll zes fr Q3 2011.

fuTuRe Supply

demAnd TAke-up




Te up rte f ll cteries, except supprti retil, is mre th 95%.

Supprti retil cmmds ly 85% d c be explied by the

reliance on custom from workers in the oces that the retail component

supports. Low levels of oce occupancy over the past few years account

fr this s this mes less peple usi the utlets. I sme situtis

the space for supporting retail is too large for the size of the oce it

supports and some convert to oce use or other functions such as

eductil/trii cetres.

The falls in consumer condence from the last quarter of 2010 until the

present day reect the ongoing political uncertainty in the country, but

fter the eerl electi i erly Q3 there ws smll pic up. The

oods in many provinces in Thailand in September had a detrimental

eect on the consumer condence index.


Surce: Bureu f Trde d Ecmic Idices, Clliers Itertil Thild Reserch

TAke up RATe of cuRRenT Supply by cATegoRy, Q3 2011

conSumeR confidence index (cci)


demAnd dRiveRS focuS



ReTAil SAleS index by QuARTeR

RenTAl RATe duRing The yeAR Q1 2010 Q3 2011

Surce: B f Thild, Clliers Itertil Thild Reserch

Remr: Yer 2002 = 100


Sice the lst qurter f 2010 wrds the retil sles idex hs bee

higher than the last ve years due to increasing political stability and

retil develpers luchi ew mreti cmpis t bst their

centres. The oods that have been occurring in September may lead to

temprry spie i -discretiry spedi due t buyers wishi

t stc up essetil items.

The retl rtes i every re re similr frm the previus qurter,

lthuh sme ew retil cetre hve icresed their retl rte, which

has had a marginal eect on the whole market.

ReTAil SAleS

RenTAlS




Supermrets i the pst re usully lcted i retil cetre, hwever

ew tred is fr supermret chi t develp std le utlets

due t limited sized ld plts bei vilble fr develpmet f cmmuity mll but with demd frm residetil res erby. My

re bei develped frm rup f ld shphuses d re fte

smller i size th usul supermrets d c fte ls be equted

with cveiece stres. I the pst, befre the dvet f the mder

retil cetre, supermrets were the ly frm f mss retil d were

therefre std le, d iriclly we re seei this situti ccur

i.

Tesc Ltus luched their w supermret frmt l time ,

which reches my res thruhut Thild. Tesc Ltus Mret still

cmmds the lrest shre f the mret fllwed by Tps Super d

Tps Mret, but this des t iclude Tesc Ltus Express which hsless th 300 squre metres per utlet with mre th 850 brches i

Thild d is direct cmpetitr with 7 Eleve.

other retil develpers ls wish fr shre f this mret. Cetrl Fd

Retil C., Ltd. hve peed my Tps Super d Tps Mret utside

retil cetres, d i dditi they ls hve peed umerus Tps

Dily utlets with cveiece stre frmt i B d up-cutry.

apprximtely hlf f Tps Super d Tps Mret re t std le

frmt, due t them bei lcted i retil cetres d the rest mstly

hil bc t the dys befre the emerece f shppi cetres.

Although Foodland opened its rst supermarket in Thailand more than

30 yers , they still ly hve 10 brches i B d re fst

lsi mret shre. Hwever recetly they pl t expd with ew

brches l with evetul listi the SET. Mx Vlu, prt f the

Jpese ae rup, pls t expd with smller size brches with

mre th te yer bei slted.


Remr : Icludi std le d iside retil cetre supermret

ShARe of numbeR of SupeRmARkeTS ThRoughouT ThAilAnd

TRendS | SupeRmARkeTS go iT Alone AgAin




The icresi ld price i the urb B re l with tw

pli reultis mes lrer retil cetre develpmet less

ppeli i the cetre; isted mre lre scle retil cetres re bei

lcted i the uter city d suburb res s well s i the eihburi

prvices.

T i mret shre i the cetre, mre retilers re reduci the size

f ew develpmets with mve frm supermret t hybrid style

cveiece stre. I rder t ccmmdte fr this blurri f

distictis betwee hypermret, supermret d cveiece stre,

retailers are developing more brands to allow consumers to dierentiate

such s Mii Bi C d Tps Deli.

My residetil develpers re ls li t iterte cmmuity

mlls i their w prjects fr the cveiece f residets d thus

ehce the ppel f the residetil prperty d ls ptetilly its

vlue

My lre scle retil cetres i the uter city re pl t expd

existi retil spce, due t the icresi ppulti i the ctchmet

re. Sec Squre, Prdise Pr Phse 2, Fshi Isld, Cetrl

B, d The Mll Be ll hve pls i the wrs. The chllee

for such expansions is maintaining the right balance and conguration of

retil utlets thruhut the existi d expded cetre s whle.

foRecAST




Appendix





ReTAil locATionS

ReTAil mARkeT cATegoRieS

The rized retil mret i Thild c be divided it seve mi

cteries, bsed size, chrcteristics, ds sld, d prici:

1) S ma / S ctr2) dartt Str (gures for this report include stand-alone stores

ly; thse lcted i shppi mlls re t icluded)

3) hrart

4) ct ma

5) Sat Strs

6) etrtat c (this des t iclude etertimet res i

shppi mlls, s these represet itrisic prt f the shppi mll

mix)7) Srt Rta

Note: For the purposes of the report, retail refers to organized retail services andexcludes traditional single proprietor outlets often located in shophouses and marketsconsisting of predominantly small traders. Also, supermarkets have been excluded

from this report.


10/10


collieRS inTeRnATionAl ThAilAnd

mAnAgemenT TeAm

RETaIL SERVICES

ashrw Wcht | Seir Mer

oFFICE & InDUSTRIaL SERVICES

nrum Rdsirvrpht | Seir Mer

aDVISoRY SERVICES | HoSPITaLITY

Je Mrc grret | Directr

PRoJECT SaLES & MaRkETIng

Mchi orwpis | Seir Mer

RESIDEnTIaL SaLES & LEaSIng

npsw Chtephrd | Mer

aDVISoRY SERVICES

nptr Tiechutim | asscite Directr

REaL ESTaTE ManagEMEnT SERVICES

Bdid Chyitu | asscite Directr

InVESTMEnT SERVICES

nur Suwtiul | asscite Directr

Ws Rttijjuul | Seir Mer

RESEaRCH

Ty Pic | asscite DirectrSurchet kcheep | Seir Mer

VaLUaTIon & aDVISoRY SERVICES

nichls Brw | asscite Directr

Phchsu Phrmthut | asscite Directr

Stip kreemh | Seir Mer

Wid Susuw | Mer

PaTTaYa oFFICE

Mr Bwli | Seir Sles Mer

Supee Strjitsi | Seir Busiess Develpmet

Manager / Oce Manager

CoLLIERS InTERnATIonAL ThAILAnd:

Bangkok Ofce17/F Plechit Ceter,2 Suhumvit Rd, kltey,B 10110 Thild

Tel +662 656 7000

fAx +662 656 7111

emAil [email protected]

Pattaya Ofce519/4-5, Ptty Secd Rd (oppsite Cetrl FestivlPtty Bech), nprue, Blmu, Chburi 20150

Tel +6638 427 771fAx +6638 427 772


ReSeARcheR:

ThildTy Picasscite Directr | Reserch


ReSeARcheR:

ThildSurchet kcheepSeir Mer | Reserch


512 oces in 61 countries 6 ctiets

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ifrmti herei shuld be directed t the Reserch Deprtmet t the umber idicted bve. This dcumet hs

bee prepred by Clliers Itertil fr dvertisi d eerl ifrmti ly. Clliers Itertil mes

urtees, represettis r wrrties f y id, expressed r implied, rerdi the ifrmti icludi, but

t limited t, wrrties f ctet, ccurcy d relibility. ay iterested prty shuld uderte their w

iquiries s t the ccurcy f the ifrmti. Clliers Itertil excludes uequivclly ll iferred r implied

terms, cditis d wrrties risi ut f this dcumet d excludes ll libility fr lss d dmes risi

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bangkok retail market report q3 2011

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