QiSS - New Community Mall in Downtown Bang

Kewpaisal Place Company Limited has launched its first development on a 3-rai site in downtown Bangkok with a total value of over 1 billion baht. It will be a mixed-use project consisting of a retail community mall named “QiSS” and a grade-A serviced apartment building. Situated on Soi Rubia connecting Sukhumvit and Rama IV roads, next to the Kluaynamthai Hospital and opposite the Berli Jucker building, this development will feature a 3-storey community mall and a 3-storey office space comprising a total lettable area measuring more than 4,000 square metres, a 55-unit grade A serviced apartment, and 300 parking spaces. The project is located less than 1 kilometre away from Bangkok University and only 600 metres from the Ekkamai BTS skytrain station and will have a shuttle service to the project. Mr. Narong Kewpaisal, Managing Director of Kewpaisal Place Company Limited, states that “The project’s concept is to bring a green oasis to the downtown area of Bangkok. Fifty percent of its common area will be dedicated for lush gardens which will be in the English, French and Italian styles. QiSS is designed to cater for office workers and university students in a neighbourhood where the demand for a lifestyle mall has not been met”. According to CBRE, there are approximately 200,000 square metres of office space and almost 8,000 condominium and apartment units located within a radius of 3 kilometres from the project while occupancy rates of both commercial and residential developments in the area continue to be high at over 95% and 70%, respectively”. “The Retail Services team at CBRE Thailand has been appointed as the sole leasing agent for QiSS in December 2012 and has already leased out 30% of the total lettable space within just one month. CBRE expects to lease out all retail spaces by the first half of 2013. Well-known tenants who have committed to lease the retail space include MaxValu, a Japanese chain of supermarkets, and Vistacaf? by Verasu, which plans to open one of its largest branches at this project. The construction is expected to be completed in Q4 2013,” according to Nithipat Tongpun, Executive Director and Head of Retail Services at CBRE Thailand. About CBRE CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE established an office in Bangkok in 1988, followed by its Phuket office in 2004. CBRE Thailand has grown to be a leading real estate services provider, offering strategic advice and execution for sales and leasing for all types of property, property and facilities and tenancy management, valuation and advisory, and research and consulting. For more information, visit the company's website at www.cbre.co.th. -KP- Click for photo release at www.thaipr.net

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