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Terminal 21 Rama 3 is a themed shopping mall located at 356 Rama III Road, Bang Khlo, Bang Kho Laem, Bangkok, opened on October 20, 2022, with approximately 140,000 square meters of usable space across nine floors, including a gross leasable area focused on retail around 40,000 square meters. The mall adopts a global ports and cities theme, with each floor designed to represent locations such as Caribbean Village on the lower ground, English Village on ground, Rome on first, Paris on second, Tokyo on third, Hollywood on fourth and fifth, and San Francisco on the top floor, featuring elaborate decorations, photo opportunities, and themed restrooms.
Tenant mix includes over 300 stores targeting mid-market consumers, with categories spanning fashion (Uniqlo, Adidas, Crocs, Moshi Moshi), health and beauty (Boots, Watsons), electronics (Huawei, True), supermarket (Tops), discount retail (Daiso, Mini So), dining options with international cuisines (MK, Yayoi, Fuji Japanese, Sizzler, Bar-B-Q Plaza, COCO ICHIBANYA, Starbucks, Swensens), two food courts including the affordable Pier 21 San Francisco with dishes at 30-50 THB, entertainment via SF Cinema with IMAX, Lets Relax spa, and Harborland indoor playground for families.
Anchor tenants comprise Tops supermarket, SF Cinema, and The Fitness Platinum gym. Positioned as a community-oriented lifestyle hub on the Chao Phraya River, it serves a catchment area of over 250,000 residents in Rama 3, a mixed residential and business district with growing affluent populations.
Market position emphasizes experiential retail through theming to attract families, tourists, and casual shoppers, amid Bangkoks recovering retail sector with positive net absorption of 18,534 square meters in Q2 2025 and overall vacancy at 4.71 percent in prime areas.
Leasing advantages include mid-tier rent levels estimated at 1,000-2,000 THB per square meter per month for community malls, parking for 1,658 vehicles, and proximity to business districts, though operational quality notes some vacancies in lower food areas post-opening.
Accessibility involves free shuttle from BTS Surasak, taxi or ride-hailing services, and BRT Charoenrat station, but lacks direct BTS or MRT connection, potentially limiting footfall.
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Hours of Operation
Hours
| Monday | 10:00 AM — 10:00 PM |
| Tuesday | 10:00 AM — 10:00 PM |
| Wednesday | 10:00 AM — 10:00 PM |
| Thursday | 10:00 AM — 10:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 10:00 AM — 10:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Catchment Area
The Rama 3 area features a population exceeding 250,000 residents, characterized by a mix of middle to upper-middle income households, with average household incomes around 50,000-80,000 THB monthly based on Bangkok suburban trends. The district includes residential condominiums, office buildings, and industrial zones, drawing a diverse consumer base of families, young professionals, and expatriates. Retail performance benefits from proximity to affluent neighborhoods and growing tourism along the Chao Phraya River, supporting demand for lifestyle and experiential shopping. However, market saturation in suburban Bangkok, with retail space per capita lower than regional peers, may pressure discretionary spending amid economic fluctuations, as evidenced by softened GDP growth to 1.5 percent year-over-year in Q3 2023.
Competition and Market Saturation
Competition in Rama 3 includes established malls like Central Rama 3, offering integrated retail and entertainment within a five-kilometer radius, Iconsiam with luxury focus and riverside appeal, Asiatique for night market vibes, and River City for art and antiques. This creates a saturated mid-to-upper retail environment, where Terminal 21 Rama 3 differentiates through thematic design but faces challenges from stronger footfall at central locations. Bangkoks retail market shows bifurcation, with prime malls maintaining high occupancy over 95 percent, while suburban sites like Rama 3 experience variable performance due to reliance on local residents amid increasing online shopping trends.
Accessibility and Operational Quality
Accessibility relies on road networks via Rama 3 Road, with free hourly shuttles from BTS Surasak (20-30 minute ride), BRT Charoenrat station, and potential river access, but absence of direct rail links contributes to lower footfall, estimated below central malls at under 50,000 daily visitors on weekdays. Operational quality highlights modern infrastructure and family-friendly amenities, yet notes aging or underdeveloped outdoor riverside terraces and initial vacancies in lower-ground food kiosks at 20-30 percent post-2023. Maintenance of thematic elements supports tenant retention, but risks include traffic congestion and expressway tolls impacting visitor convenience.
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