Promenada Mall closed

[dingdongrb]

5 minutes ago, Mac Mickmanus said:

Why were the Chinese going there ?

Funny, where did I mention Chinese? Perhaps you need to be asking someone else??????

[JeffersLos]

10 minutes ago, Mac Mickmanus said:

Why were the Chinese going there ?

There was a queue that needed jumping. 

[sammieuk1]

Don't think it ever really opened ????

[scorecard]

12 minutes ago, sammieuk1 said:

Don't think it ever really opened ????

What's the latest news (pm 14 May), has Promenada reopened?

 

Any member seen any mention of reopening / date etc?

 

Please share.

[DezLez]

2 hours ago, dingdongrb said:

Yepper, my opinion/experience. I lived in Banwangtan and always owned a vehicle as I always did when living in my home country. I wouldn't venture outside my mooban on a scooter, Not worth the risk with the way folks drive here.

 

You ever heard of Grab? Pickup at your door within minutes and extremely inexpensive. 

 

Sad to hear that Honda Wave owners don't venture outside the moat area.....  ????

Some of us actually live in areas of CM City where we can walk to either a BIG C or a Rimping within 10 minutes. 

 

I do not need cars, bikes, Tuk Tuk's, grabs etc, to get a so called shopping mall and be ripped off.      I just walk to my nearest shop(s) as required!

 

The now EX Promenada and those large Shopping Malls/supermarket areas are too far out of town and not required by us City dwellers who have our needs cared for and easily at hand locally!

[dingdongrb]

19 hours ago, DezLez said:

Some of us actually live in areas of CM City where we can walk to either a BIG C or a Rimping within 10 minutes. 

 

I do not need cars, bikes, Tuk Tuk's, grabs etc, to get a so called shopping mall and be ripped off.      I just walk to my nearest shop(s) as required!

 

The now EX Promenada and those large Shopping Malls/supermarket areas are too far out of town and not required by us City dwellers who have our needs cared for and easily at hand locally!

I tend to walk when I want to and not when I need to. My walks are for casual exercise in the evenings and within the safety of my mooban. Walking in the hot sun, sweating my a$$ off, and trying to cross a busy road all while lugging some groceries is not for me. I'm happy to hear you enjoy it.

 

Oh BTW, I use my car to venture to the zoo/aquarium occasionally, mountaintop temples, waterfalls, and delicious restaurants outside a 10 minute radius of my home. 

 

[scorecard]

On 5/14/2022 at 10:20 PM, DezLez said:

Some of us actually live in areas of CM City where we can walk to either a BIG C or a Rimping within 10 minutes. 

 

I do not need cars, bikes, Tuk Tuk's, grabs etc, to get a so called shopping mall and be ripped off.      I just walk to my nearest shop(s) as required!

 

The now EX Promenada and those large Shopping Malls/supermarket areas are too far out of town and not required by us City dwellers who have our needs cared for and easily at hand locally!

What a strange confused post. There's many foreigners who live outside of the immediate CM city area, and they need to shop just like verybody else. And not everybody (regardless of inner city dwellers or otherwise) lives within walking distane of a variety of shops. Such selfish comments.

[ramrod711]

On 5/14/2022 at 5:54 PM, 1FinickyOne said:

so, you were the one?

My wife was the other one, and because I don't know how to pay by phone, she does it that way now.

[ramrod711]

On 5/14/2022 at 8:22 PM, Mac Mickmanus said:

Why were the Chinese going there ?

Rumors of a seafood buffet I suspect.

[scorecard]

On 5/5/2022 at 5:38 PM, Dmaxdan said:

The expression "white elephant" springs to mind. 

If it wasn't for CM immigration being there for a while it would have closed years ago.

 

Clearly it was poorly designed, especially in terms of ensuring a good revenue stream for shop owners and for the developers.

 

The developers are from Europe and it's been mentioned before:

 

- Promenada Chiang Mai is to some extent a copy of a similar property in Poland also had many financial issues.

- Promenada Chiang Mai management refused to listen to local business operators, who, apparently tried to suggest several business models to possibly adopt to gain more revenues etc. Deaf ears.

- Several years back the developers brought in more capital, mostly from Holland, but ultimately the finance issues were not fully resolved.

 

- Some months after the most recent close down several local syndicates* apparently made offers to buy the whole thing but all instantly/totally rejected.

(*This is gossip, seems that a major player was Rimping, and others, with plans to do a major rework of the inside layout to bring a lot more shops into the centre, but all ignored.)

 

Ultimately I wonder why the original backers in Europe don't seem to be making a lot of noise for the place to be sold to refund some of their initial investment. If this was happening I would be surprised if it wasn't being reported in the media.

 

Another point, the place is still incurring many costs:

- On going electric bills

- Various state and local government taxes and administrative charges

- Some on going internal salaries and internal costs.

 

All very strange.  

[Bill97]

40 minutes ago, scorecard said:

Ultimately I wonder why the original backers in Europe don't seem to be making a lot of noise for the place to be sold to refund some of their initial investment.

If current debt is greater than equity there are nothing to return to owners.

 

Your speculation is strange.

[scorecard]

55 minutes ago, Bill97 said:

If current debt is greater than equity there are nothing to return to owners.

 

Your speculation is strange.

My speculation is not supported at all, just wild speculation and guess work, nothing more.

 

You mention:  "If current debt is greater than equity there are nothing to return to owners."

 

I don't disagree.  What could be 'strange' is why investors did invest at all or supposedly increase their exposure in a 'second round' of raising more capital/cash, especially given the supposed earlier performance of the principals. 

 

Seems there's no plan B (just wild guesswork) and so it will just rot to the ground. Not exactly a good business model. 

[orang37]

2 hours ago, scorecard said:

All very strange.  

Sources of any new actual information in this post ?

[BritManToo]

On 5/17/2022 at 1:50 AM, scorecard said:

What a strange confused post. There's many foreigners who live outside of the immediate CM city area, and they need to shop just like verybody else. And not everybody (regardless of inner city dwellers or otherwise) lives within walking distane of a variety of shops. Such selfish comments.

You must live somewhere very strange (Doi Saket?).

In MaeJo I have Tesco, BigC and 7-11s all around me.

[scorecard]

39 minutes ago, BritManToo said:

You must live somewhere very strange (Doi Saket?).

In MaeJo I have Tesco, BigC and 7-11s all around me.

My village is in the Thasala sub-district.

Drive down the Superhighway passing BIG C Don Chan on the left side.

Continue down the Superhighway about nearly 2 km on the left side of the highway Urbana 3 village.

Continue a little further on the Superhighway, Urbana 1 on the right side - my village.

From Urbana 1 about 8 to 10 minutes to Promenada using the underpass which comes up just outside Big C Don Jarn. 

 

[BarnicaleBob]

So. did the mall reopen or not?

 

[scorecard]

5 hours ago, BarnicaleBob said:

So. did the mall reopen or not?

 

Promenada did announce (when it had to close because the electricity bill was unpaid and therefore the electricity was disconnected), that it was permanent closure.

 

If you drive past now you can see that the buildings and the outside mall areas are disintegrating. 

[arithai12]

On 2/7/2023 at 11:52 AM, scorecard said:

Promenada did announce (when it had to close because the electricity bill was unpaid and therefore the electricity was disconnected), that it was permanent closure.

 

If you drive past now you can see that the buildings and the outside mall areas are disintegrating. 

Disintegrating.... you have some imagination. It would be strange for a buidling to disintegrate after just a couple of years of being unattended. I drove by and actually stopped a couple of months ago, shame that they pulled the plug so hard, it was lovely. And unfortunate timing, look at how most businesses are back to life.

Rimping for sure would still be very viable.

[sqwakvfr]

Kad Suan Kaew closed July 2022 and it looks like a Zombie movie could be filmed there. 

[flare]

4 hours ago, sqwakvfr said:

Kad Suan Kaew closed July 2022 and it looks like a Zombie movie could be filmed there. 

It kinda did in some spots even before then- the old ice skating rink upstairs past the bowling alley would have made a good post-apocalyptic setting.

[LomSak27]

Two down (KSG, Promenada), one to go. When will Pantip Plaza be decommissioned? 

[lordblackader]

54 minutes ago, LomSak27 said:

Two down (KSG, Promenada), one to go. When will Pantip Plaza be decommissioned? 

As soon as they work out some way to turn the building into a hotel. It has to be on borrowed time + it sits on some of CM's most expensive real estate. 

[BritManToo]

2 hours ago, lordblackader said:

+ it sits on some of CM's most expensive real estate. 

Pantrip Plaza, KSK or Promanada?

[BritManToo]

22 hours ago, flare said:

It kinda did in some spots even before then- the old ice skating rink upstairs past the bowling alley would have made a good post-apocalyptic setting.

Been like that since 2010, I used to enjoy exploring the abandoned areas of KSK back then.

[flare]

40 minutes ago, BritManToo said:

Been like that since 2010, I used to enjoy exploring the abandoned areas of KSK back then.

It hasn't gotten any better (I was there a couple months before the closure)- walking to the edge near the outside stairwell feels like you're tempting the floor to open up and drop you a couple stories.;)