The Mall Group, Thailand’s second largest department store chain, has announced plans to diversify into hotel and property development, in addition to expanding the company’s retail business.
Supaluck Umpujh, the group’s vice president, said the group initially plans to develop residential projects or hotels on single plots, and after that may also look at residential development on vacant spaces at some of its existing shopping complexes. The Mall Group operates the up-market Emporium and Paragon department stores, as well as a number of retail centres under its “The Mall” brand.
“Next year is the year for residential and hotel project planning but for the retail business, it’s time to expand”, said Supaluck. “We will focus on developing mid-sized projects that provide sustainable profits in the long term, focusing on quality more than quantity”.
