Siam Premium Outlets, a shopping centre featuring a variety a brand-name products, will expand to the resort island of Phuket in 2026, seeking a new opportunity in one of Thailand's bustling tourist destinations, according to operator Siam Piwat Simon.
Siam Piwat Simon Co is a joint venture between two global retail leaders. Simon is a real estate investment trust that owns premier shopping, dining, entertainment and mixed-use destinations, while Siam Piwat owns and operates leading retail developments in Thailand.
The project follows the success of the first Siam Premium Outlets near Suvarnabhumi airport, aiming to introduce residents and tourists in Phuket to high-quality products. The shopping opportunities at this outlet should help drive the economy, according to the venture.
"This project aims to create a vibrant hub for shopping and tourism, catering to both local and international visitors, while contributing to the growth of the Thai economy and tourism sector," said Siam Piwat Simon.
SHOPPING MAGNET
The new outlet is anticipated to create a vibrant shopping atmosphere in the province, attracting both Thai and international visitors.
Building on the strong success and shared vision between Siam Piwat and Simon, the company recognised an opportunity to expand its business by developing globally significant destination projects.
Phuket is the second-most popular tourist destination in Thailand after Bangkok and a top global destination for both local and foreign travellers.
The new location attracted interest from both existing tenants of the first outlet centre in Bangkok and many new prospective tenants, who expressed their desire for the company to invest in this expansion, said Siam Piwat Simon.
The second centre will be developed with a unique concept designed specifically for Phuket province, focusing on current demand and supporting Phuket's growth over the next decade, said the company.
The new outlet will be located in the centre of Phuket, supporting the city's growth in all directions, said Siam Piwat Simon.
The centre is designed to cater to the influx of Thai and international tourists, totaling more than 15 million annually. This includes both locals and long-term expatriates known for their strong spending habits, according to the company.
Tourists in Phuket spend an average of 8,355 baht per person per day, making it a significant tourist market, noted Siam Piwat Simon.
Phuket's robust purchasing power is underscored by its significant number of retail outlets, comprising 14 malls and 19 hypermarkets, complemented by 15 international schools, according to the venture.
The island also boasts convenient transport networks, including well-connected roads and public transit, with an airport accommodating up to 20 million passengers annually, said Siam Piwat Simon.
With the planned Andaman airport in Phangnga province expected to increase airport capacity, the stage is set for new investments and enhanced global tourism appeal, the company said.
Both Siam Piwat and Simon want to create an exciting new retail phenomenon in Phuket, utilising their global expertise and experience.
WELL-ESTABLISHED CENTRE
The first outlet centre in Thailand, Siam Premium Outlets Bangkok, was launched in 2020.
Located along the Bangkok-Chon Buri Motorway (Highway No.7), this outlet boasts more than 300 brands and an authentic, premium outlet experience.
The Bangkok outlet has quickly become a key shopping destination in Thailand, attracting a steady flow of both Thai and international customers since its opening.
In 2023, the location posted strong growth, with a significant increase in revenue compared with the previous year, said Siam Piwat Simon.
This growth was accompanied by a steady rise in foot traffic, with the current occupancy rate reaching 100%, noted the company.