"Allai" has unveiled plans to collaborate with the "Economic House Group" to expand community mall projects in the suburban area in full swing in 2023, targeting three major projects, starting with the "Village Hub" in Pracha Uthit 90 with an investment of over 300 million baht, aimed at new-generation families and students due to growth opportunities, expecting to be fully operational by August 2023.

Mr. Kwinth Eamsakulrat, Director of Allai Global Management (Thailand) Co., Ltd. an investment management company in real estate and private equity, revealed that "In 2023, the retail business is starting to pick up again, prompting the company to invest over 300 million baht in the construction of the 'Village Hub' (Pracha Uthit) project on over 21 rai in Soi Pracha Uthit 90. This is a joint venture between Economic House Co., Ltd. and Allai's affiliated investors in a 51:49 ratio. The project is an open community mall with a total area of over 20,000 square meters, approximately 11,000 square meters of retail space, featuring Lotus's Go Fresh Super Market, restaurants, fitness centers, and various shops catering to the lifestyle of new-generation families and students. It is expected to be completed and ready for service by the end of July 2023, with full operations starting in August 2023.

The "Village Hub" (Pracha Uthit) project is the 13th retail project of Allai, joining existing shopping centers such as CDC Crystal Design Center, The Crystal (Ekkamai-Ratchaphruek-Chaiyaphruek), Plenary, The Scene (Town in Town), Ampark (Chulalongkorn), Amorini, Sammakorn (Ramkhamhaeng-Rangsit-Ratchaphruek), and Kad Farang-Hang Dong in Chiang Mai. This project marks Allai's first investment outside of a REIT and in collaboration with the Economic House Group. The company's goal is to expand retail business in this format with the Economic House Group into two more suburban areas, totaling three projects with a combined value of over 700 million baht.

"We chose to establish the Village Hub project in Soi Pracha Uthit 90 because we see business opportunities in this growing area, which consists of new-generation families with high purchasing power, numerous housing projects, and many new constructions underway. Additionally, it is an educational hub with several large schools in the vicinity," Mr. Kwinth concluded.