Kewpaisal Place Company Limited has launched its first development on a 3-rai site in downtown Bangkok with a total value of over 1 billion baht. It will be a mixed-use project consisting of a retail community mall named “QiSS” and a grade-A serviced apartment building.
Situated on Soi Rubia connecting Sukhumvit and Rama IV roads, next to the Kluaynamthai Hospital and opposite the Berli Jucker building, this development will feature a 3-storey community mall and a 3-storey office space comprising a total lettable area measuring more than 4,000 square metres, a 55-unit grade A serviced apartment, and 300 parking spaces.
An artist’s impression of the completed QiSS shopping mall in Bangkok.
The project is located less than 1km away from Bangkok University and only 600 metres from the Ekkamai BTS skytrain station and will have a shuttle service to the project.
Narong Kewpaisal, Managing Director of Kewpaisal Place Company Limited, states that, “The project’s concept is to bring a green oasis to the downtown area of Bangkok. Fifty percent of its common area will be dedicated for lush gardens which will be in the English, French and Italian styles. QiSS is designed to cater for office workers and university students in a neighbourhood where the demand for a lifestyle mall has not yet been met.”
There are approximately 200,000 square metres of office space and almost 8,000 condominium and apartment units located within a radius of 3km from the project while occupancy rates of both commercial and residential developments in the area continue to be high at over 95% and 70%, respectively
50% of the mall’s common areas will be dedicated to gardens and greenery.
The Retail Services team of CB Richard Ellis (Thailand) has been appointed as the sole leasing agent for QiSS and has already leased out 30% of the total lettable space within just one month since the beginning of December 2012. CBRE expects to lease out all retail spaces by the first half of 2013. Well-known tenants who have committed to lease the retail space include MaxValu, a Japanese chain of supermarkets, and Vistacafé by Verasu, which plans to open one of its largest branches at this project.
The construction of the mall is expected to be completed by the end of this year.