Central Festival Mall In Chiang Mai?

[coralia]

I have read somewhere recently that there is now a Central Festival mall in Chiang Mai - is this true? And if so, where is it located? For as long as I can remember, there were only two malls in Chiang Mai (Khad Suan Khaew and Airport Plaza), but I haven't been to Chiang Mai in more than two years...

[ARISTIDE]

There will be four more on the way and they are all being build at this moment. Funny the first three are all in the same area! If you have been away for two years there are at least 3 more Rimpings and more Mc Donal Drive tru as well

Central Festival (1) 18.804959,99.018617 , Platinum Chiang Mai Fashion Cente, next to BigC (2), CBP Lifestyle Mall - near Index Living Mall (3) , Promenada Resort Mall (4).

http://www.promenada...=C4ea63412bcb57

http://www.facebook....243070745755353

Edited February 2, 2013 by ARISTIDE

[coralia]

I don't understand that location description... Is there a map attached and I don't see it?

[ARISTIDE]

Oh, forgive my assumption, enter the coordinate in google maps.

https://maps.google.com/

I don't understand that location description... Is there a map attached and I don't see it?

[Greenside]

I think you missed out the one on the corner of Nimmenhamen and the Superhighway. I thought I spotted yet another on the Superhighway between Index and Macro but it looks like a new branch of the Bangkok Hospital.

Once Central Festival has been built, I'm told that Central Dept Store will close in Kad Suan Kaew and re-locate which will leave them looking for a new anchor and a vast hole in their revenue. I would guess demolition is on the cards but whether they'll be able to attract the retailers back is the big question. It's the best location for a mall but surely there must be a limit as to how many B2S, Clinics and chain restaurants the population can support. As it is, even over at Central Airport Plaza the retailers are coming and going with alarming speed - Ice Monster closed today, California Wow hung up the sign yesterday and there's a new ice cream joint with the ambience of a high end restaurant that doesn't look like it will see a six month anniversary since I've never seen more than three people in it.

With all this investment in retail space, I guess someone has a theory about where the money is going to come from to buy the overpriced goodies. Not the families from Bangkok so widely rumoured to be buying retirement homes all the new moobans - they'll be years away. There's precious little serious industry and the small exporters and tourist businesses are hurting from the strength of the baht. Sure, the Chinese are coming in droves but it's a brave person who could predict how that will go.

Interesting times...

Edited February 2, 2013 by Greenside

[ARISTIDE]

Yes thanks I missed that one, Maya shopping mall. The one btw Index and Macro is going to be Bangkok Hospital.

I think you missed out the one on the corner of Nimmenhamen and the Superhighway. I thought I spotted yet another on the Superhighway between Index and Macro but it looks like a new branch of the Bangkok Hospital.

[Greenside]

Actually, there's a whole category that's been ignored here: The Star Avenue type developments such as the one by the bus station. There are about half a dozen of those on the go at the moment too, including a deceptively large one with another McDonalds drive through on Madidol Road and, although they're not on the same scale as the CPN properties, it's still a lot more retail space to fill.

Edited February 2, 2013 by Greenside

[coralia]

I think you missed out the one on the corner of Nimmenhamen and the Superhighway. I thought I spotted yet another on the Superhighway between Index and Macro but it looks like a new branch of the Bangkok Hospital.

Once Central Festival has been built, I'm told that Central Dept Store will close in Kad Suan Kaew and re-locate which will leave them looking for a new anchor and a vast hole in their revenue. I would guess demolition is on the cards but whether they'll be able to attract the retailers back is the big question. It's the best location for a mall but surely there must be a limit as to how many B2S, Clinics and chain restaurants the population can support. As it is, even over at Central Airport Plaza the retailers are coming and going with alarming speed - Ice Monster closed today, California Wow hung up the sign yesterday and there's a new ice cream joint with the ambience of a high end restaurant that doesn't look like it will see a six month anniversary since I've never seen more than three people in it.

With all this investment in retail space, I guess someone has a theory about where the money is going to come from to buy the overpriced goodies. Not the families from Bangkok so widely rumoured to be buying retirement homes all the new moobans - they'll be years away. There's precious little serious industry and the small exporters and tourist businesses are hurting from the strength of the baht. Sure, the Chinese are coming in droves but it's a brave person who could predict how that will go.

Interesting times...

I hope Tops Supermarket in Kad Suan Khaew is not going to close??!! That would be extremely bad news for anyone living in that area......

[jaideeguy]

I often wonder if Thais do any market research before investing?? It seems not as when all these malls get built, who will go? I'v seen Khad Suan Keau as a looser from 10+ yrs ago, with mostly students hanging out and as much as 20% of the massive complex never being occupied by shops.

And then there are all the smaller mini malls and shophouses opening up all over the outskirts of CM.

[mania]

I often wonder if Thais do any market research before investing?? It seems not as when all these malls get built, who will go? I'v seen Khad Suan Keau as a looser from 10+ yrs ago, with mostly students hanging out and as much as 20% of the massive complex never being occupied by shops.

And then there are all the smaller mini malls and shophouses opening up all over the outskirts of CM.

It is not so different where I came from in the US

We called them ghost malls.

The funny thing is the management there would not budge on the rents.

Instead they went along with the low occupancy.

Odd

I guess the consumerism model is not so different here.

They experience some success due to the lack of "quality" shopping spaces

shown by how crowded the Airport Plaza is. Then they overreact & over build

all thinking they will get in on it.

All that really happens is one place becomes king due to location, store selection,parking, attractiveness etc.

The trick now is for the big anchor tenants to pre-pick the right one that will end up king.

They probably cannot afford a presence in all locations

[HaleySabai]

Ahh.... and the Bubble gets Bigger!

[CobraSnakeNecktie]

I think you missed out the one on the corner of Nimmenhamen and the Superhighway. I thought I spotted yet another on the Superhighway between Index and Macro but it looks like a new branch of the Bangkok Hospital.

Once Central Festival has been built, I'm told that Central Dept Store will close in Kad Suan Kaew and re-locate which will leave them looking for a new anchor and a vast hole in their revenue. I would guess demolition is on the cards but whether they'll be able to attract the retailers back is the big question. It's the best location for a mall but surely there must be a limit as to how many B2S, Clinics and chain restaurants the population can support. As it is, even over at Central Airport Plaza the retailers are coming and going with alarming speed - Ice Monster closed today, California Wow hung up the sign yesterday and there's a new ice cream joint with the ambience of a high end restaurant that doesn't look like it will see a six month anniversary since I've never seen more than three people in it.

With all this investment in retail space, I guess someone has a theory about where the money is going to come from to buy the overpriced goodies. Not the families from Bangkok so widely rumoured to be buying retirement homes all the new moobans - they'll be years away. There's precious little serious industry and the small exporters and tourist businesses are hurting from the strength of the baht. Sure, the Chinese are coming in droves but it's a brave person who could predict how that will go.

Interesting times...

I hope Tops Supermarket in Kad Suan Khaew is not going to close??!! That would be extremely bad news for anyone living in that area......

A few posters have said there is a 10 year lease for Tops at KSK and using the logic that even if it loses money they will stay with the lease because the penalty is large to break it. I would imagine they might be able find a new tenant and partially offset the cost of getting out.

The new Maya Mall at Rincome interesection is supposed to have a new Tops... So worst case if they close it then just walk a few more blocks. For me the new one is closer than KSK so no big deal at all.

[naboo]

Kaad Suan Kaew is my favourite mall in Thailand. None of the clinical boredom of other malls and always something unexpected to be found. Its a rabbit warren, and I can only hope that with other malls opening, KSK with lower rents will attract more independent retailers.

Knocking it down would be unthinkable. It was only built a few years ago.

[mania]

Knocking it down would be unthinkable. It was only built a few years ago.

23+ years ago I think?

[naboo]

Knocking it down would be unthinkable. It was only built a few years ago.

23+ years ago I think?

About that. I recall being told late 80s. Not very long at all.

I have been told by some youngsters that it is the oldest building in Chiang Mai!

[mania]

Knocking it down would be unthinkable. It was only built a few years ago.

23+ years ago I think?

About that. I recall being told late 80s. Not very long at all.

I have been told by some youngsters that it is the oldest building in Chiang Mai!

I think so too as my wife went there when she was 16-17 & is now 40

I think the problem with Malls this old is the mechanical systems are deteriorating &

the current crop of renters can no longer support the building.

As such it continues to deteriorate till merchants leave or it becomes unsafe.

The escalators in that mall are definitely on their last legs. I imagine the air exchange systems

are probably also in need of $$$

The property itself may also become more valuable as an asset & sold for that reason

to a corporation that has other ideas for it.

[Greenside]

I suspect that if KSK were to be rebuilt, it would rise from the ashes as a mixed apartment/office/retail pheonix with a couple of floors of underground parking. Decent shops entertainment and parking closer to the old town than Maya and with some captive office workers to keep the food concessions running.

[JomtienEats]

Still lots of customers in KSK every day. With all the high-end malls going up, I wonder if KSK won't just settle into its place as the downmarket mall.

[HaleySabai]

Kaad Suan Kaew is my favourite mall in Thailand. None of the clinical boredom of other malls and always something unexpected to be found. Its a rabbit warren

KSK is a commercial architectural goofball, the original dictate behind the design must of been-max-out retail sq,m! - Done - but with utter disregard for a coherent sense of traffic flow - which translates into poor business for the existing tenants = high vacancies = low revenues for mr.mall owner = no profit to reinvest into mall upgrades = dying mall = where it is today..... and without an anchor = DEAD,where it will be tomorrow. It was designed for failure - sell,knock down, re-build.

[Ulysses G.]

Knocking it down would be unthinkable. It was only built a few years ago.

23+ years ago I think?

About that. I recall being told late 80s. Not very long at all.

I have been told by some youngsters that it is the oldest building in Chiang Mai!

It is more like 20 years old or a little less. KSK was not here when I first started living in Chiang Mai. It was THE PLACE to go for many years. Edited February 6, 2013 by Ulysses G.

[FolkGuitar]

There seems to be some structural problems for KSK too. Many cracks in the walls allowing water to get into the rebar reinforcements. Rusting rebar may/may not be a genuine concern. (I have no structural engineering background to really know.) But I can't imagine it's helpful.