Thai property developer Asset World Corp. will open a food-themed retail center with 265 restaurants in Bangkok on June 26, the company said, investing an estimated 10 billion baht ($272 million) as it seeks to capture demand from foreign tourists.

The 20,000-square-meter facility, named Phenix, is about a 10-minute walk from Sukhumvit Road, a central street in Bangkok.

The facility is expected to offer retail shops, including Thai restaurants, as well as wholesale stores. The center also contains an event hall with 1,500 seats that can host concerts, as well as a seminar room and a kitchen area to encourage interaction among shop operators.

AWC is a real estate developer under major Thai conglomerate TCC Group, which operates hotel chains including Marriott and Hilton in the country.

AWC aims to enhance its food-themed facilities to tap rising demand from the increase in visitors to Thailand from Europe, the U.S. and neighboring countries.

 

Source: Nikkei Asia