Bangkok retail supply currently at 7.6m sqm as of mid-2023

A few mega shopping centres are under construction.

The total supply of retail properties in Bangkok and its surrounding areas was approximately 7.6 million square metres, according to data from Knight Frank. There haven't been many new project openings due to the ongoing recovery of the economy and the tourism sector. 

Furthermore, most mega shopping centres, including One Bangkok, Bangkok Mall, Dusit Central Park, and The EmSphere, are currently under construction.

Here’s more from Knight Frank:

On the demand side, the shopping centre business is experiencing continuous recovery. Positive factors have emerged due to the resolved COVID-19 situation. Shopping centres are intensifying their activities and running promotions consistently during every festival. The increasing number of office workers and foreigners, coupled with government stimulus schemes like "Shop Dee Me Kuen" and spending stimulus schemes during the election period, have significantly boosted consumption.

It has been observed that the total revenue of leading shopping centres in Thailand has recovered to 87% of the pre-Covid-19 period, while overall profitability has reached 76%. For the operating results in 2023, it is anticipated that they will recover to levels very close to those seen in 2019.