英文【莱坊】曼谷零售市场2025年上半年.pdfVIP

ThailandResearch

Bangkok

RetailMarket

H12025AnoverviewreviewofBangkok’sRetailMarketinH12025knightfrank.co.th/research

byKnightFrankThailand

In2025,despitepressuresfromsubduedconsumer

spending,highhouseholddebt,andeconomicand

politicaluncertainties,Bangkok’sshoppingcenters

continuetodemonstratestronggrowth,withtotalretail

stockreaching8millionsq.m.Thesectorachieved

+9%YoYrevenuegrowthin2024andisexpected

tomaintainsimilarmomentumin2025.Keydrivers

includethereboundintourism(35.5millionarrivals

generatingTHB1.8trillion),expansionofmixed-

usedevelopments,integrationofhealthandbeauty

services,omnichannelstrategies,tenantpartnerships,

androbustREITstructures.Together,thesefactors

highlighttheresilienceandlong-termvaluecreationof

Thailand’sshoppingcentersector.

“TheresilienceofBangkok’sshoppingcentershighlights

theirabilitytoadapttoshiftingconsumerpatternsand

economicchallenges.Supportedbytourismrecovery,

mixed-useexpansion,anddigitalintegration,thesector

remainsakeydriverofgrowthinThailand’scommercialMr.NatthaKahapana

ManagingDirector

propertymarket.”KnightFrankThailand

ResilientRetail

How6StrategicFactorsDriveShoppingCenterSuccess

DespiteIndustryHeadwinds

In2025,Thailand’srealestatemarketfacesaperfectstorm:weakeningconsumerspendingamidstubborninflationand

highhouseholddebt,anoversuppliedpropertylandscape,andfreshuncertainties-fromdomesticpoliticaltensionsto

border-regionconflictsandescalatingU.S.tradetariffs.Everyassetclasshasfeltthesqueeze.Yet,defyingthesepressures,

shoppingcentersacr