Index Living Mall Public Company Limited (SET: ILM) is set to launch the fourth “LITTLE WALK” project at the Krungthep Kreetha branch with an investment of more than 150 million baht with a sales area of 5,300 square meters. This most recent project is an attempt to create a lifestyle shopping mall on Srinagarinda-Romklao Road, in the eastern Bangkok zone to fulfill the needs of the idealistic suburban lifestyle community under the “Living a Complete Lifestyle, Closer @ LITTLE WALK Krungthep Kreetha” concept that is now ready to support the expansion of real estate residential and speculative developments that are now booming in all shapes and forms. The area is convenient with various transportation connections with links to the economic gateway leading to the Eastern Economic Corridor (EEC) development area. The highlights of the project are the tenants consisting of various famous brands that fulfill every lifestyle to attract visitors and shoppers. The 76 well-known branded stores include Villa Market Supermarket, food and beverage outlets and several other services. The launch of the project is set for October 9th with special promotions from these famous stores to help celebrate the joyous event.
Mr. Ekalak Patamasatayasonthi, Senior Vice President, Business Development of Index Living Mall Public Company Limited, revealed that “LITTLE WALK” is considered a small business development in the form of a convenience shopping mall, designed in the style of a “strip mall” (a mall with stores lined up in a straight line with parking on either sides, for full shoppers’ convenience). The basic concept is convenient access, easy shopping, and quick exit, along with ample parking and a wide variety of shops to meet every likes and lifestyle, including a supermarket, restaurants, and shops offering a miscellany of goods and services. The focus remains on serving a high-potential location which is a densely populated areas, as well as an area with a growing real estate development trend. The goal is to open projects with similar concept at three more locations in 2023 to 2024, to create complete shopping and dining destinations covering every zone.
The Company recognizes the opportunity and potential of the location in the eastern Bangkok zone heading into the final stretch of 2023, and therefore has proceeded to create the fourth “LITTLE WALK” branch in Krungthep Kreetha location, in addition to three other projects: LITTLE WALK Lat Krabang, LITTLE WALK Bangna and LITTLE WALK Pattaya. “LITTLE WALK Krungthep Kreetha” sits on a 7-rai site on Kanchanapisek Road, Thap Chang Sub-district, Sapan Sung District of Bangkok. (Note: Sapan Sung District covers an area of approximately 28,124 square kilometers, has a population of 95,922 with a population density of 3,410.68 people/square kilometer)
This particular area in the eastern Bangkok zone is considered to be fully-developed in all aspects, and is packed with a variety of facilities including department stores, community malls, international schools along with other educational institutions, hospitals, golf courses, as well as various residential projects worth a total of approximately 100 billion baht. Also a big positive is the convenient transportation infrastructure connected with many main roads, including the New Krungthep Kreetha Road (Srinagarinda-Romklao Road) that helps to enhance transportation convenience with easy and quick road access into and out of the city. Easily accessible roads and highways from this location include: Rama IX, Bangkok-Chonburi Motorway; other outbound routes to Suvarnabhumi Airport and all the way to Chonburi, Chachoengsao and Rayong provinces in the Eastern Seaboard; Kanchanapisek Road (Eastern Ring Road) connecting to main roads such as Krungthep Kreetha, Pattanakarn, Ramkhamhaeng, Hua Mak roads. Also crucial are two electric commuter train lines, namely, Yellow Line (Latprao-Samrong) and Orange Line connecting eastern Bangkok to the western side (to be completed within 2023), along with the Airport Rail Link, and the now-under-construction high-speed train connecting three airports serving Bangkok, namely, Don Mueang, Suvarnabhumi and U-Tapao airports.
The project covers a total rental area of 5,300 square meters, hosting a total of 76 stores, offering a new experience, fully catering to every “shop, eat, chill” lifestyle, with Villa Market Supermarket being the main anchor with an area of 1,200 square meters. Restaurants are available in many styles including Thai, Korean, Japanese, Chinese, Mexican and Vietnamese. There are also bakery & beverage shops, drug stores, beauty clinics, dental clinics, massage & spa parlors, tuition and skill learning for children, miscellany shops, golf equipment shops, yoga-pilates gym, pet products and other services. The shops within the project are divided as follows:
- Supermarkets and mixed-use stores (Buildings A-B): Led by Villa Market, a supermarket that only sources quality items from around the world (open on December 2023), VT Namnueng Vietnamese restaurant, Yashitake Omakase restaurant, Radiance healthy cuisine restaurant. Also, do consider dessert and beverage shops, such as, White Cloud ice-cream parlor belonging to Nicha “Vowwa” Chokprajakchad, Mikka Café, White Story, as well as Sleep Salon a ladies’ beauty salon, The Backyard barbershop, Milk children’s barbershop and Big Ya pharmacy, PASAYA shop, etc.
- Building C: Consists of Salad Factory serving healthy salads from organic farm, TACO BELL Mexican taco restaurant, Shizen Shabu restaurant, and Watson’s convenience store.
- Building D: Consists of Casa Lapin Coffee, A-Ramen Japanese ramen restaurant, Shinkanzen Sushi restaurant, Meat Sampan restaurant for beef lovers, Yakiniku Rin restaurant, The NAIL Story nail salon.
- Building E (2-story building): Consists of Suki-Shi Korean-style grill restaurant, Phad Phad restaurant, S+Core Yoga & Pilates Studio – the community for the health-conscious, Super Golf golf/sport equipment store.
- Building F (2-story building): Consists of Somtam Nua Isaan restaurant, YAMA Chang fried chicken restaurant by Khun Piyalert “Beer” Baiyoke, as well as serving as a community for the health-conscious with facilities such as “Panipak Taekwando School” where students can attend classes that teaches happiness while easily developing body and mind with Olympic Gold Medalist “Nong Tennis” as the proprietor, and also many tuition and skill learning places for children such as Math Talent, Play Sound Mieko, a special kids’ café for children, and pet products shops and stalls, etc.
- Building G: Consists of integrated full-service beauty parlors and salons, such as NETRA Aesthetics Clinic, PIXIE and J WARA Spa, etc.
The potential of Krungthep-Kreetha Road and the neighborhood has been developing in leaps and bounds, thus, LITTLE WALK Krungthep-Kreetha Branch managed to close sales of 100 percent of all rental spaces within a matter of months. The supporting factor was mainly due to the land prices in this area which have increased exponentially by approximately 150 percent over a 10-year period (2012-2023). While the land purchase price in 2012 was approximately 58,000 baht per square wah, in 2023, the price has risen to around 140,000 baht per square wah. Also, many real estate developers have been continuously flocking into the area to develop residential projects. Many luxury single-detached home projects worth 30-100 million baht, along with posh townhomes and condominiums have been built or being developed. At the same time, investors in real estate for rent have also shown interest. This is because this location offers good rental rates that are higher than other locations. The real estate developments target both Thai and foreign customers, mostly Europeans, who work in international schools in this area, as well as Chinese businessmen.
It is expected that LITTLE WALK Krungthep-Kreetha Branch will become another “check-in” point for all segments of shoppers in this area, including 60 percent being families, 20 percent office workers, 10 percent children and 10 percent others. The main selling points are the superb location, accessibility and outstanding design. Complete range of shops await to cater to every lifestyle and are ready to provide convenience for those who want to shop quickly without having to spend time searching for parking spaces, as the project can accommodate up to 200 vehicles. In addition, it is expected that the project will also be serving traffic from customers traveling on this route to the Eastern Economic Corridor (EEC) area covering three provinces: Chachoengsao, Chonburi and Rayong, as well as various tourist destinations.
“As for future plans, the Company aims to launch two more LITTLE WALK branches in 2024. This projection is in line with the Company’s plan to increase the amount of rental space by approximately 5,000-8,000 square meters per year. We are also focused on finding new partners to jointly expand the businesses and to create new business models in order to reach, and precisely cater to, the needs of consumers as much as possible,” Mr. Ekalak concluded.
