Siam Piwat’s US$1.6bn project heralds new magnet for consumers
Thai shopping mall developer Siam Piwat opens the country’s largest commercial complex on Nov. 9 in Bangkok, a US$1.6 billion project dubbed ICONSIAM that also boasts high-rise condominiums.
The mega project is a joint venture with Thai conglomerate Charoen Pokphand Group and real estate developer Magnolia Quality Development Corporation. Built on a 55-rai plot of Charoen Nakhon Road on the banks of the Chao Phraya River, the project has a gross floor area of 750,000 square metres.
The retail component comprises of two shopping complexes – ICONSIAM main wing and ICONLUXE luxury wing. A department store operated by Japan’s Takashimaya will serve as the core tenant, it’s largest Takashimaya store outside Japan.
ICONSIAM will house many brands entering the Thai market for the first time. The Takashimaya store will carry 500 brands, 80 of which come from Japan and are making their debut in Thailand.
Two luxury condo towers — one rising 70 stories and the other 52 — stand adjacent to the new mall. They are named as Magnolias Waterfront Residences at ICONSIAM and The Residences at Mandarin Oriental Bangkok.
ICONSIAM could redraw the city’s commercial map. The complex sits on the bank of the Chao Phraya River on the western side of central Bangkok, away from the Siam and Sukhumvit areas that serve as the capital city’s main shopping districts.
Photo: Artist Impression of ICONSIAM retail podium
Apple’s first flagship store in Thailand, The Apple Store at Icon Siam will reportedly feature a two-story-high glass window and an emphasis on innovative design, much like the Singapore’s Orchard Road branch. The whopping price tag for the country’s first Apple Store will be more than THB100 million (about US$3 million).
ICONSIAM is all set to open its doors for the one-billion-Baht, three-day opening festivities, dubbed “ICONSIAM City Opening Mega Phenomenon”, scheduled on 9-11 November.
Iconsiam Co is splashing out a record 1 billion baht to promote its first luxury mall in the Thon Buri area, aiming to create a new shopping district. “The company is spending about 700 million baht for activities to celebrate the opening, which will last three days, with the remaining 300 million used for marketing and activities until the end of this year,” Mrs Chadatip said. “We expect to draw 150,000 shoppers a day.”
With such proportions never before seen in Bangkok, ICONSIAM is set to be a global visitor landmark for many years to come.
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