Vertical Construction Begins at First Thailand Premium Outlets by Simon-Siam Piwat Joint Venture
Siam Piwat Simon Co., Ltd., a joint venture established last year between Simon Property Group and Siam Piwat Group, announced that site work has been completed and vertical construction has commenced for Thailand’s first international luxury outlet located near Bangkok’s Suvarnabhumi International Airport. The development will comprise around 200 stores and the total gross floor area (GFA) is around 50,000 square meters.
Siam Premium Outlets released the first images of the new development which emphasizes outdoor settings, natural, green surroundings, and water. The development will also feature dining, leisure, and entertainment options.
Mark Silvestri, Executive Vice President of Simon, said, "The opening of the Siam Premium Outlets will add an exciting new dimension to Thailand’s retail sector, and will complement Simon’s existing international portfolio of industry-leading Premium Outlets.”
Mrs. Caroline Murphy, Senior Executive Vice President of Siam Piwat Group said, “Siam Piwat is excited to elevate the shopping experience for the international luxury outlet shopper, setting a new standard for the Southeast Asia market.”
The joint venture between Simon and Siam Piwat Group is Simon’s first in Thailand, and its fourth in Asia. Simon’s Premium Outlets platform has an ownership interest in 96 properties globally, including 15 in Asia with nine in Japan, four in Korea, and two in Malaysia. Simon’s portfolio features some of the most recognizable luxury outlets in the world including Woodbury Common Premium Outlets (New York), Desert Hills Premium Outlets (Palm Springs), Las Vegas North Premium Outlets, Gotemba Premium Outlets (Tokyo), Yeoju Premium Outlets (Seoul), and Johor Premium Outlets (Malaysia).