Member News

July 9, 2024

Boonthavorn Transforms Ratchada with Design Village – Community Living Mall

Set to Open in 2024, the Project is Welcoming Partners to Deliver Products and Services that Elevate Ratchadapisek Resident’s Quality of Life, Establishing Itself as “The Seamless Aspiring Destination.”CBRE Joins Forces with Boonthavorn as Retail Marketing Consultant and Retail Leasing Services Provider.

Bangkok – July 4, 2024 Boonthavorn unveils plans to transform its Ratchadapisek branch into Design Village Ratchada, a new comprehensive lifestyle hub in the heart of Ratchadapisek. Construction is currently underway to bring this new living experience to the residents of Ratchadapisek. This project is more than 60% complete, with an expected official opening in the fourth quarter of 2024.

Design Village Ratchada is proud to present its concept, “The Seamless Aspiring Destination.” This visionary hub integrates work, relaxation and well-being. Over 50% of the retail space has already been leased to renowned brands. Esteemed tenants such as Iberry Group, Rolling Roaster, Hey Coffee, Luxoptic, Private Fitness, Premium Supermarket and others are contributing to this vision. A warm welcome continues to be extended to partners who can provide products and services that cater to the “Finest Lifestyle” needs.

Mr. Sitthisak Tayanuwat, Chief Executive Officer, Boonthavorn Retail Corporation Co., Ltd., said, “The Ratchadapisek branch is the first of Boonthavorn’s network, as it has been the foundation of our growth alongside the thriving Ratchadapisek area. We have witnessed the area’s prosperity following the arrival of the MRT Blue Line, which has transformed it into one of Bangkok’s new central business districts. This vibrant district is now home to numerous office buildings and residences, catering to the needs of both local workers and tourists who appreciate its convenient transportation options. With amenities such as shopping malls, educational institutions, hospitals and public parks, Ratchadapisek is a rapidly developing area with immense potential for further growth.”

Boonthavorn has placed its highest trust in selecting CBRE Thailand, a global leader in real estate consulting, to act as retail marketing consultant and provide retail leasing services for the Design Village Ratchada project. With extensive experience and expertise in the real estate business, coupled with a professional team possessing deep knowledge and understanding of the retail market and consumer behavior in Thailand, CBRE is able to present effective marketing strategies to attract retailers to the project.

Dr. Jariya Thumtrongkitkul, Head of Retail and Group Transaction Management, CBRE Thailand, said, “CBRE has leveraged in-depth analysis and research on the retail market, including consumer behavior, to aid in planning space allocation and selecting various stores. This allows us to craft a premium lifestyle experience that genuinely meets the needs of our target audience. It complements ‘The Seamless Aspiring Destination’ concept, which perfectly bridges living and lifestyle.”

Upon studying the lifestyle behaviors of target customers in Ratchadapisek—primarily working individuals and families—it has revealed a lifestyle trend of blending work with relaxation. These demographics expressed a desire for a place that accommodates all aspects of their lifestyle, including work, dining, relaxing, shopping and fitness in one location. Recognizing the potential and business development opportunities within the area, Boonthavorn sought to align with the evolving behaviors of younger generations and more discerning customers who invest more time in making their purchases. This insight led to a THB 700 million investment in transforming the Ratchadapisek branch into Design Village Ratchada.

Design Village Ratchada embodies the concept of an “Urban Lifestyle Melting Pot,” skillfully blending diverse cultures and lifestyles for city dwellers. It aims to provide a comprehensive lifestyle destination that intertwines all essential elements across multiple dimensions. A handpicked selection of stores and services, each distinguished by a unique identity and magnetic appeal, are set to deliver the ultimate seamless experience. These well-known brands are raising the standard of living in Ratchadapisek and enhancing the area with better eating, living and health. Design enthusiasts and the younger generation will now have access to a space where they can work, find inspiration, dine, shop, relax and exercise all in one place. Each store’s concept and decor are meticulously designed to offer unique experiences for modern city dwellers seeking a fulfilling lifestyle from dawn to dusk. Keeping the lifestyle needs of working professionals and emerging adults in mind, the goal is to enable patrons to maximize their living experience.

This collaboration between Boonthavorn Retail Corporation Public Company Limited and CBRE Thailand will help drive significant success for Design Village Ratchada. With its strategic location and convenient accessibility, the projected is expected to generate robust sales as it caters to urban residents and is well-positioned to be Boonthavorn’s highest revenue and highest revenue-per-capita branch.

With these attributes and unique offerings, Design Village Ratchada is expected to emerge as a new lifestyle and activity hub for Ratchadapisek residents. Elevating their quality of life and work efficiency aligns with the “Good Eats – Good Living – Good Health” philosophy that serves as the cornerstone of Design Village.

The project continues to actively invite and welcome retail and service brands as partners in its mission to become “The Seamless Aspiring Destination” for customers. All these efforts are in preparation for the grand opening in the fourth quarter of 2024.

Interested retailers can contact Boonthavorn Retail Corporation Pub Co., Ltd. Leasing team at +666 2 863 4444 or CBRE Thailand’s Retail Leasing team at +66 2 119 1500 to schedule a project visit or inquire about further details regarding this high-potential project, Design Village Ratchada.

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