Real-estate management & consultancy firm Jones Lang LaSalle has entered into an agreement with Saranrat Development Co.,Ltd. to provide comprehensive retail services to The Phyll, a lifestyle mall project on Sukhumvit 54 in Bangkok. The agreement has committed Jones Lang LaSalle to act as the development consultant, marketing agent, and retail manager on the project which is planned to be fully operational by early 2015.
The Phyll is a lifestyle mall project with a unique ecological development concept, aiming to offer shoppers an escape from a chaotic city life. Situated on 4.5 rai of land, approximately 50% of which will be dedicated to landscape gardens, the project has been designed to be a hybrid mall offering a perfect combination of open-air and enclosed retail space, and will be the only one of its kind on Sukhumvit Road.
Dr. Kaweepoj Worayingyong, Managing Director of Saranrat Development Co., Ltd., hands over the retail service contract to Suphin Mechuchep, Managing Director of Jones Lang LaSalle (Thailand) Limited, appointing Jones Lang LaSalle as the retail development consultant, marketing agent and property manager for The Phyll.
With 5,000 square meters of retail space, The Phyll will provide home for operators of everyday life goods and services such as a supermarket, a food court, fine restaurants, meeting cafes, casual shops, IT shops, banks and beauty salons.
Suphin Mechuchep, Managing Director of Jones Lang LaSalle, said, “Retail malls are one of the most complicated real estate types. While attracting quality retailers is challenging, a bigger challenge is to draw the right shoppers, make them spend time and money, and keep them coming back.
“We have seen a strong potential for success in The Phyll due to its well thought out, unique development concept and strategic location on Sukhumvit 54. Our team of retail specialists have been working closely with the developer to identify short and long term strategies that will ensure a sustainable success of the project,” added the JLL chief.
A computer graphic shows the completed The Phyll shopping complex on Sukhumvit 54.
During the pre-completion period, Jones Lang LaSalle will act on The Phyll as the retail development marketing and management consultant, ensuring the project is well positioned and offering a right retail mix in line with demand and lifestyle of targeted shoppers. Upon completion, Jones Lang LaSalle will also act as the retail manager for the project.