- Says each new project will be 'revolutionary', and 'a first', introducing novel experiences and concepts
BANGKOK, Sept. 24, 2014 /PRNewswire/ -- Siam Piwat Co., Ltd., the owner and operator of prestige retail developments in Thailand, such as Siam Paragon and Siam Center, as well as the joint venture partner of ICONSIAM, the US$1.54 billion landmark Bangkok riverside development, today, unveiled a 5-year strategy that aims to consolidate its position as a 'thought-leader' in the rapidly evolving retail development sector through a programme of investments in projects worth US$1.7 billion.
Mrs. Chadatip Chutrakul, Chief Executive Officer of Siam Piwat Co., Ltd., said: "The retail development sector in Thailand is going through a period of exceptional growth with a record amount of new investments announced by various companies in the last 12 months.
"Thought-leadership drives Siam Piwat's success. Underpinning our future growth is our focus on offering in our projects novel concepts, as well as new retail and lifestyle ideas that are the first in Thailand, and some even also in the world. In line with this strategy, we also aim to be a partner of choice to retailers and investors, and to double our revenues in five years," she said.
According to Mrs. Chutrakul, Siam Piwat will do five things to be a thought-leader in retail and property development.
- "We will focus on constantly creating new and unique experiences. Globally connected consumers are instantly aware of new world trends and their expectations are much higher. We have a dedicated unit to track new trends and customer preferences as well as benefit from collaboration partners in staying abreast of these developments," she said.
Siam Piwat has eight properties under study in Thailand and overseas, and which should be finalised within 2015.
- "Second, Siam Piwat will work closely with tenants to offer new ideas that can help support the further success of tenants and business partners and provide unparalleled experiences for visitors. We will challenge our tenants to create new designs, new products, and new products that are unique to the property," she said.
- Mrs. Chutrakul said that Siam Piwat will invest in new retail formats and concepts as well as new brands that are not yet in Thailand, and that it plans to operate new retail businesses, including up to four brands of specialty stores, with projects valued at around US$93 million.
- "Siam Piwat will also invest in new businesses with world-class partners including firms in entertainment, art and culture, as well as in retailing. We plan to initiate projects valued at US$ 310 million, with completion in 3-5 years," she said.
- "Siam Piwat is also building a strong organisation, and recently created the position of President specifically to ensure the ability of our support units to drive business growth," she said.
Siam Piwat has a long heritage of pioneering new concepts which are commercially very successful and bring positive recognition for Thailand. It created the first modern shopping mall in Thailand, the first five-star hotel in Thailand, the first mixed-use complex in Thailand, and, with the creation of Siam Paragon, delivered a world-class retail phenomenon in luxury shopping and recreation that is a must-visit destination for tourists coming to Bangkok. Many stores of top international and local brands at Siam Center and Siam Paragon regularly register the highest sales per store among their stores in Thailand and the region.
Siam Piwat: S.Niyomsen +662-658-1000 ext2260
Bangkok Public Relations: P.Kwantientong +662-664-9500 ext115
SOURCE Siam Piwat Co., Ltd.