Siam Piwat Co Ltd, has unveiled a four-pillar strategy it says will help boost its strengths as Thailand’s leading real estate and retail developer and maintain its leadership as a developer of global destinations, as part of its move to underpin the government’s plan to draw overseas visitors back in the post-pandemic era.
As the owner and operator of world-renowned retail destinations including Siam Paragon, Siam Center, and Siam Discovery – and a joint venture partner of IconSiam and Siam Premium Outlets Bangkok – the company is well placed to support the government’s new tourism promotion policy.
The company will invest more than 1 billion THB (US$28 million) during the fourth quarter to help the government achieve its target of 30 million overseas visitor arrivals into Thailand – and plans to double that investment next calendar year.
“Siam Piwat is the leading developer of global destinations that have not only served as tourist magnets and solidified Thailand’s position as the top destination among global visitors for a long time, but are also highly successful and widely recognised in the global real estate industry,” said Chadatip Chutrakul, CEO of Siam Piwat Group.
“Siam Piwat is prepared to move forward at full throttle. We are confident that the government will be able to transform our tourism sector into a formidable asset and create phenomena that will firmly establish Thailand as a premier destination on the map for travellers from all over the world,” she concluded.
Siam Piwat’s four strategic pillars comprise world-class shopping leadership and leadership in luxury retail; hosting world-class events and MICE leadership; elevating Thai art and establishing Bangkok as a global art hub; and introducing Thailand’s soft power to the global stage.
During the first eight months of this year, Siam Piwat’s shopping malls combined welcomed 14 million visitors, representing a 46 per cent increase over last year. Those visitors spent an average of 8500THB (US$238) each. The company also hosts the most affluent customer base in Thailand.
As it works to help realise the country’s inbound tourism targets, Siam Piwat has developed four-pillar strategies of its own, in concert with the government’s.
Leadership in creating extraordinary shopping experiences and strengthening its dominance in the luxury retail segment: Siam Piwat will join forces with luxury brands, tenants, and business partners to open 20 new shops of luxury brands during the fourth quarter – many of them making their Thai debut. The company will launch pop-up stores and world-class events in collaboration with more than 40 brands between now and the end of next year. All the leading luxury brands at Siam Paragon and IconSiam are preparing to expand their store spaces to become the regionally largest flagships.
Leadership in world-class events and global MICE: Siam Piwat is working with state agencies, the Thailand Convention and Exhibition Bureau (TCEB) and the private sector to attract business travellers and high-spending tourists from across the world. The Royal Paragon Hall on the fifth floor of Siam Paragon and True Icon Hall on the seventh floor of IconSiam have this year hosted about 40 major events, while bookings are already at 70 per cent for next year. Siam Piwat will work within a global ecosystem of partners across businesses including airlines, hospitality, tourism and restaurants, to accommodate diverse event formats, and support Thailand in becoming the leading international MICE destination in Southeast Asia. In addition, Siam Piwat is currently in talks with a world-class event organiser to jointly invest and build a new convention centre in Bangkok.
Leadership in promoting Thai art and establishing Bangkok as a global art hub: Siam Piwat has been a pioneer in supporting and hosting Thai artists for more than 15 years. It was the first company to publicly exhibit the works of Thai artists in shopping centres and has enhanced the role of Thai artists in supporting quality tourism. The company plans to work with the government and state agencies to establish Bangkok as Southeast Asia’s art hub to exhibit global art pieces, such as Art Basel and Frieze, in order to attract global artists to Thailand and create an opportunity for Thai artists to showcase their art alongside their global peers.
In 2026, Siam Piwat plans to open the 8000sqm River Museum on the eighth floor of IconSiam. As Thailand’s first international-grade museum it will be able to showcase global masterpieces at the same level as leading museums in Europe and North America. This is part of a strategy to attract public art industry figures as well as collectors of artworks from around the world. In doing so, Siam Piwat hopes to attract a new category of affluent travellers that will help strengthen Thai tourism in the long term.
Leadership in introducing Thailand’s soft power to the global stage: Over the past decade, Siam Piwat has developed a platform of opportunities to promote Thailand’s soft power and bring together the best of the best that Thailand has to offer from across industries including food, film, fashion and design. In addition, Siam Piwat has created SookSiam, bringing together more than 6000 independent SME businesses from across all 77 of Thailand’s provinces to showcase the many forms of Thai identity. SookSiam attracts at least 70,000 visitors daily and is widely shared by visitors on social media channels worldwide. Siam Piwat has also worked to develop Thai brands through its retail business, including IconCraft, ODS and Ecotopia – which have successfully helped businesses expand overseas. The company will continue working with Thailand’s Ministry of Commerce and Ministry of Interior and world-class partners to elevate Thailand’s soft power and draw global recognition.
“Siam Piwat is ready to join hands with all parties to promote the tourism and hospitality industry, establish Thailand’s position as the top global destination, and support the government’s policy to bolster the tourism industry,” said Chadatip. “This will play a vital role in driving the Thai economy, stimulating economic activities, generating income, and creating employment for many people.”
Siam Piwat says the tourism industry is vital to the nation, attracting many international visitors. The presence of those visitors yields far-reaching benefits, not only to tourism