Phuket To Get Bt3-billion Night Bazaar

[george]

Phuket to get Bt3-billion night bazaar

PHUKET: -- A company is looking to add some spark to Phuket’s nightlife by building a Bt3-billion night bazaar, shopping centre and entertainment complex on the tourism isle.

Phuket-based property developer Anuphas and Sons Co has allied with Phuket Night Bazaar Co to build the night bazaar to serve travellers looking for a shopping and browsing experience similar to the one in Chiang Mai. The Phuket International Night Bazaar is slated to open in November 2005.

Phuket Night Bazaar Co plans to pay Bt300 million for the project using Bt100 million of its own capital and the rest from up-front lease fees raised from market retailers. Major tenants in the rest of the development would foot the B2.7-billion remainder of the development tab, said Chintana Daengdej, project manager and managing director of the company.

“It will be the biggest commercial project in Phuket,” Chintana. “Chiang Mai has had a night bazaar for more than 30 years and it’s now time for Phuket.”

She said tourist destinations and night bazaars usually go together but Phuket has gone without one.

Groundbreaking would start in November this year, she said.

Besides the night bazaar, the project will include an entertainment complex, an education mall, an electronics area, an outlet mall, a health and beauty centre, a boutique hotel, a food pavilion, a nightlife centre, a show pavilion, a health food supermarket, an adventure attraction, a gold and jewellery plaza and a youth hostel.

The project will cover 230 rai, including a 60 rai lake. It would include some 300,000 square metres of commercial space, of which 100,000 would be dedicated to the night bazaar part and the rest for the other retailers and service operators.

Phuket International Night Bazaar would be just one small part of Anuphas and Sons’ Chao Fah City project that encompasses some 1,500 rai. Chintana said her company signed a 30-year lease for the 170 rai and pay the developer about Bt1 billion through the life of the agreement.

Phuket Night Bazaar Co in turn would sublease space to all the retailers in the complex.

`“In the night bazaar, 15 per cent of the total space has already been booked and we are confident that all of the space will be sold before the project is launched,” she said.

The company predicts that some 40,000 tourists would visit the bazaar daily during the low season (May through October) and 100,000 tourists a day in the high season.

Phummisak Hongsyok managing director of Anuphas and Sons, said the company will file a proposal asking the government to approve the area as a free trade zone, which would give it tax breaks and exemptions as well as other privileges.

“Being in an FTZ will encourage buyers and sellers to have more interest in the project,” he said.

Anuphas and Sons has other projects in mind for its Chao Fah City development, which it envisions as Phuket’s new complete community in about 15 years time.

He said the company plans to open a car dealership zone that would include showrooms for Honda Motors, Mazda Motor Co and Ford Motors Co late next year. It is also scheduled to start construction on an international conventional centre next year on the property.

--The Nation 2004-07-15

[astral]

Heaven help the poor mugs who rent the places.

Does Phuket really need a bazaar like this?

We have one in Sri Racha and it is already looking rather dowdy after only 6 months of operation. Many of the shops have closed due to lack of business.

They paid 30,000 up front then 10,000 a month for about 10 sq m of space each.