The Siam area’s largest property and retail business operators including MBK; Siam Piwat Co, the operator of Siam Paragon, Siam Center and Siam Discovery Center; and Siam Square Business Group are teaming up to help turn the area into Thailand’s leading commercial hub. The plan, termed Siam Synergy, will see the three companies invest more than THB11.8 billion as they look to spur new development in the district and make key renovations.
The goal is to help the Siam district become one of the country’s key strategic economic and commercial hubs as well as one of the world’s most comprehensive and diverse lifestyle centers. It is also hoped this arrangement will help keep Siam as one of the Bangkok’s leading tourist destinations.
Siam Discovery, currently undergoing renovation, will invest nearly THB4 billion on its overhaul as it looks to become a hybrid retail mall. Siam Square will develop a new hotel and office buildings in the area next year. The cost of that project is estimated to come in between THB3 billion and THB4 billion.
According to The Nation, MBK is planning to make upgrades that will cost THB3 billion. This includes construction of a skywalk route from the Pathumwan intersection to Chula Soi 12 and Sasin Graduate Institute of Business Administration as well internal improvements to mall.
The Siam district continues to show continuous growth and has very strong economic and commercial potential, Boonsong Srisawangnet, vice president of Siam Square Business Group, said. He added that it can be considered one of Bangkok’s golden locations, comparable to major avenues in other countries such as the Ginza in Japan.
