Future Park Leasehold Property Fund Announces Extension of the Temporary Close of Future Park Rangsit Shopping Center (No. 2)
May 05, 2020 at 02:08 am EDT
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Pursuant to the Declaration of an Emergency Situation in all areas of the Kingdom of Thailand dated from March 26, 2020 and currently extended until May 31, 2020. In order to effectively control the existing measures and to prevent the spread of COVID-19 to other areas that have previously been controlled, by virtue of the State Administration Act, B.E.2534 (1991) and Section 9 of the Emergency Decree on Public Administration in Emergency Situations B.E. 2548 (2005). The Governor of Pathum Thani Province, with approval of the Communicable Disease Committee of Pathum Thani Province, issued the notification of closure of places to prevent the spread of COVID-19 dated May 2, 2020 ordered of temporarily close of shopping malls with an exception of the supermarkets, pharmacies, restaurants (for take-away and delivery only) and goods for daily necessities of living as well as commercial banks, ATM, securities business, and mobile phone network service centers are allowed to open only one branch per each location which is effective from May 3, 2020 onwards. BBL Asset Management Company Limited as the management company of Future Park Leasehold Property Fund (the "Fund"), invested in leasehold right of partially space of Future Park Rangsit Shopping Center, wishes to cooperate and to be a part of social responsibility to reduce the spread of COVID-19. Future Park Rangsit Shopping Center has extended the period for temporary closing of services which is effective from May 1, 2020 until the government announces further changes.
Future Park Leasehold Property Fund (the Fund) is a Thailand-based closed-end property fund. The Fundâs stated objective is to seek funds from investors, invest mostly in property or property leasehold rights, and generate benefit from such property. The Fund invests in the leasehold rights of certain areas of Future Park Rangsit shopping center, comprising of shops and all common areas in the shopping center including outside areas. Its investment portfolio is Future Park Rangsit, which is a lifestyle shopping mall in Northern Bangkok. The mall consists of two department stores, including Central Department Store and Robinson Department Store and one supercenter, Big C Supercenter. The mall also includes Major Cineplex, a kid theater; two branches of Power Buy; two branches of Super Sport; two branches of B2S; FITTNES FIRST; and TOPS SUPERMARKET. The Fundâs manager is BBL Asset Management Company Limited. Rangsit Plaza Company Limited acts as the Property Manager.