Siam Piwat, Thailand's leading developer of retail destinations, has unveiled its vision to expand business locally and overseas to strengthen its position in the real estate and retail development industry.
Siam Piwat is planning its expansion in Thailand and overseas to strengthen its position as a leading world-class developer of global destinations.
The owner and operator of Siam Paragon, Siam Center and Siam Discovery, and a joint venture partner of Iconsiam and Siam Premium Outlets Bangkok, also announced its performance for the first half of this year.
The group's operating results increased by 25% year-on-year in the first half.
The combined number of visitors across Onesiam shopping malls -- Siam Paragon, Siam Center and Siam Discovery -- surged by more than 50% from 2022 to an impressive 45 million.
Iconsiam is the country's new landmark on the Chao Phraya River featuring world-class shopping, entertainment, arts and culture, hotels and luxury residential condominiums, with an integrated transport hub.
Iconsiam has drawn more than 100,000 visitors daily and welcomed a total of 15.5 million Thai and international visitors in the first half of this year, 70% growth compared with 2022.
Chadatip Chutrakul, chief executive officer of Siam Piwat Group, said the retail and real estate development industry globally is abuzz with activities again after emerging from the pandemic.
She said over the past 12 months, Siam Piwat was approached by premier real estate developers from various countries.
"Many travelled to Thailand to visit our shopping malls and expressed their wishes to invite us to be their partner in landmark project development in various countries across Asia," said Mrs Chadatip.
"Since we are creating a five-year strategic plan in addition to domestic expansion, the company's board of directors also approved further study on expansion in selected countries in Asia. We expect to be able to complete and unveil the expansion plan in early 2024."
To support the long-term investment and business expansion, Siam Piwat appointed Kiatnakin Phatra Securities and Kasikorn Securities as financial consultants to assist with the financial plan and study appropriate fundraising methods, with the possibility of listing the company on the Stock Exchange of Thailand in the future.
Chadatip: Company courted for projects
"Siam Piwat being approached by prominent real estate developers from numerous countries with joint investment opportunities is an absolute honour and a testament of our global recognition as an icon of innovation that pioneers innovative concepts that have garnered numerous accolades on the global stage," she said.
"Our works serve as a source of inspiration to all and have supported Thailand's economy and tourism over the years.
"Today, Siam Piwat is ready to take the next step towards expanding its business and establishing its presence internationally."