Em District sees retail growth amid economic uncertainty in Thailand
Despite the economic uncertainty, Em District, the retail operator, witnessed growth from high-spending customers at its three malls in the final quarter of 2023. The chief executive, Kriengsak Tantiphipop, confirmed that Thailand continues to attract foreign tourists, leading to increased footfall from both local and international visitors, particularly high-spending independent tourists.
Kriengsak observed that while the influx of Chinese tourists hasn’t reached the 2019 level, most visitors were high spenders. There is an expectation of continued retail buoyancy into the first quarter, driven by the pent-up travel demand post-pandemic. He also predicted a rise in foreign visitors this year as flight operations gradually return to the pre-pandemic levels.
Em District expanded its retail space with the recent opening of EmSphere, its newest mall. This addition to The Emporium and EmQuartier brings the total retail space to 650,000 square metres. According to Kriengsak, within a month of its opening, EmSphere has been attracting daily footfalls between 150,000 and 200,000, exceeding their initial estimates.
In a joint venture with UOB and sports and entertainment presenter AEG, Em District launched UOB LIVE, a concert and multi-purpose hall on the 6th floor of EmSphere. This state-of-the-art venue, developed on a budget of three billion baht, is owned 66% by The Mall Group, with UOB signing up as the sponsor for five years.
Kriengsak informed that UOB LIVE aims to host between 120 and 150 events annually, accounting for around 40% of the yearly events. Capable of accommodating over 6,000 guests within its main hall and pre-function hall, UOB LIVE is strategically located amid five-star hotels.
The venue targets local and international concerts, sports, gaming events, and business seminars. It aspires to emerge as the favoured concert location for global acts touring the region.
UOB LIVE is set to host a special concert by international singer Ed Sheeran on February 11. UOB customers will enjoy benefits like early ticket presales, fast-track lanes, and invitations to meet-and-greet events, reported Bangkok Post.
