Mall operators unveil Bt12-bn plan to create 'Siam Synergy'

[webfact]

Mall operators unveil Bt12-bn plan to create 'Siam Synergy'
Kwanchai Rungfapaisarn
The Nation

Ambition to propel the district as a world-class commercial hub

BANGKOK: -- Major property and retail business operators in the Siam area - MBK; Siam Piwat Co, the operator of Siam Paragon, Siam Center and Siam Discovery Center; and Siam Square Business Group - yesterday announced plans to consolidate their power and the seat of their operations.

Their ambition is to "propel the Siam district to become Thailand's key strategic economic and commercial hub and one of the world's most comprehensive and diverse lifestyle centres."

The three major operators are also committed to invest more than Bt11.8 billion to improve facilities and new development in the district.

MBK alone would invest about Bt2 billion in the construction of a skywalk route from the Pathumwan intersection to Chula Soi 12 and Sasin Graduate Institute of Business Administration. Another Bt1 billion would be allocated to the internal renovation of MBK shopping mall.

Siam Discovery will invest about Bt4 billion in its major renovation to transform the shopping complex into a 'hybrid retail' mall.

Meanwhile, Siam Square, which is positioned itself as the 'walking street' at Siam district, will next year develop new hotel and office buildings in the area at a cost of between Bt3 billion and Bt4 billion.

The memorandum of understanding, named "Siam Synergy", was signed yesterday by the three major operators to strengthen the alliance in the district. It included public and private sectors and affiliated agencies, and aimed to push forward various projects to propel the Siam district towards becoming Thailand's key economic and commercial centre.

Siam is visualised as the hub where trendy lifestyles, world-class shopping experience, art, and entertainment converge under the concept "The Metropolis of Diverse Modernity".

The signing ceremony was witnessed by Kobkarn Wattanavrangkul, Minister of Tourism and Sports, who presided over the ceremony.

Siam district occupies retail space of more than 1 million square metres and is occupied by some 4,200 retail shops. It attracts about 550,000 visitors a day of which 30 per cent are foreign tourists.

Chadathip Chutrakul, chief executive of Siam Piwat, said all Siam Synergy allies would join in the creation of advertising and public relations strategies for the district. They have planned collaborative projects to develop the district, including the improvement of the Sky Walk, the establishment of Siam as Bangkok's art district, joint marketing activities among members and allies to provide a 'superior' experience through promotions to attract tourists and stimulate spending. They would also improve the levels of security.

Suvait Theeravachirakul, director and president of MBK, said that as the first step, the signing of the memorandum of understanding under the name Siam Synergy would boost the image of the Siam district as the urban centre where latest trends, world-class shopping, art, and entertainment converge.

The principal objective of this partnership was to strengthen the entrepreneur network and enhance the competitive capacity of the district. This synergy would also help preserve and promote art and culture so that Siam could continue to shine as a most-preferred destination among both Thai and foreign travellers.

Boonsong Srisawangnet, vice president of Siam Square Business Group, said that based on the latest information, the Siam district has demonstrated continuous growth. It has very strong economic and commercial potential and can be considered one of Bangkok's golden locations, comparable to major avenues in other countries such as the Ginza in Japan.

The Siam district is considered a vital connecting hub for Bangkok, linking various mass-transit systems, including Bangkok's most advanced and modern transportation. The synergy within the district will not only prepare it for the advent of the AEC - but also directly benefit the economic development of the country.

Kobkarn said the signing of the MoU served as the beginning of a major collaboration of the Siam Synergy allies. It demonstrated the power and commitment of the allies in the Siam district to become a major force in developing the tourism industry by propelling and fostering continuous growth of this district.

"Entrepreneurs of large, medium, as well as small enterprises, along with public and private agencies, are the powerful force that has, for over 50 years, strengthened and nurtured the Siam district into a commercial hub at the heart of Bangkok. This district has generated tremendous revenues for tourism industry and presented an extraordinarily diverse range of products and services that satisfy every need."

Source: http://www.nationmultimedia.com/business/Mall-operators-unveil-Bt12-bn-plan-to-create-Siam--30269940.html


-- The Nation 2015-10-01

[Thian]

Bla bla bla, so there will be a new skywalk and for the rest? What are those "lifestyle" things they're talking about?

[clockman]

Well you have to give the hiso criminals. Somewhere to spend there ill gotten gains!

[shirtless]

It will be the biggest white elephant in the world , another tourist attraction for TAT

[ratcatcher]

It will be the biggest white elephant in the world , another tourist attraction for TAT

You may be closer to the truth than you know..............

From another thread about Isaan...

"The vast Platinum 168 shopping mall on the outskirts of the provincial capital of Udon Thani was built during the boom, but it is now less than a third occupied and no longer charging tenants rent."

There's only so much crap people need. Next year will be a tough one for the country. Water will be in short supply if the weather we've had continues.

[Oziex1]

When you compare this headline with the one directly below you get a picture of the have too much and the have nothing.

The have nothings, have nothing to lose.

[Lunchbob]

It will be the biggest white elephant in the world , another tourist attraction for TAT

You may be closer to the truth than you know..............

From another thread about Isaan...

"The vast Platinum 168 shopping mall on the outskirts of the provincial capital of Udon Thani was built during the boom, but it is now less than a third occupied and no longer charging tenants rent."

There's only so much crap people need. Next year will be a tough one for the country. Water will be in short supply if the weather we've had continues.

Time to prepare for a wild ride. There is no way to educate folks as to the real reasons why they have been kept in depserate circumstances all of these years. Same problem all around the world. In a way, peoplehere will adapt better in day to day life, but not in understanding while those in the west will have greater understanding, but really struggle day to day.

[zaphod reborn]

Thailand, the hub of shopping malls. Another bubble waiting to burst.

[trogers]

Tell me again about another mega-hub for shopping when prices of heavily taxed import cheese and butter come down to a more realistic price level.

[Emster23]

Diverse? Hardly. All for those trendy hiso types, government officials on the take, cops on the take, etc etc.... That area will become even less diverse I would imagine.

[oztaurus]

550,000 visitors per day .... out of a total population of say 10,000,000 in Bangkok. So 1 in 20 people in Bangkok visits these malls EVERY day.

Total BTS ridership per day around 600 - 700,000.

Oh - I get it now ..... everyone on a Skytrain passing through Siam station gets counted as "visiting" the malls.

[maidee]

is there not already enough traffic jam in the city, even on the weekends

[gandalf12]

They can add cosmetic improvements all around but they still need the visitors to Thailand. From what I read, and not in the Thai blurb, figures are decreasing not increasing. There is an online news media, cant remember the name but something like Nikkei News. Find it and read it. It is 180 degrees opposite to what TAT is saying in most instances.

[american12bthai]

When you compare this headline with the one directly below you get a picture of the have too much and the have nothing.

The have nothings, have nothing to lose.

those with everything should fear those with nothing.

[theoldgit]

Completely off topic post removed.

[elgordo38]

550,000 visitors per day .... out of a total population of say 10,000,000 in Bangkok. So 1 in 20 people in Bangkok visits these malls EVERY day.

Total BTS ridership per day around 600 - 700,000.

Oh - I get it now ..... everyone on a Skytrain passing through Siam station gets counted as "visiting" the malls.

These are the same ones TAT counts as "quality" tourists.

[Prbkk]

God forbid that a fire should ever break out in that dreadful dump. Hundreds would die. A visit to MBK is strictly shopping for masochits. I don't believe the stock at Tokyu has changed in about 20 years.

[Thian]

Thailand, the hub of shopping malls. Another bubble waiting to burst.

Singapore has more shoppingmalls then the Thai can dream of. Go see Orchard road. And also much better sidewalks and things to see/do in the city like great parks, good sightsee boats.

It has all what Thailand is dreaming of but it will take a century to get to that level, if they ever will. First they have to stop the corruption and get a real policeforce who do their job. Mainting the law that is.

MBK is nice for cheap backpackers but too far from kao sarn road. Central discovery is nothing, Siam mall is also nothing and Paragon is only for the superrich.

Yes it is in the heart of Bangkok but i would rather see a great park there with lots and lots of shade/nature. Maybe even a huge swimmingpool/sportspark.

[wilkis333]

my friend from hk only visited this kind of shopping mall once and they have no interest for visit again as the price and style is the same as in hong kong.

[Thian]

my friend from hk only visited this kind of shopping mall once and they have no interest for visit again as the price and style is the same as in hong kong.

I agree with him, but that's for all shoppingmalls around the world.

But the Pyramid Kuala lumpur is more then a mall and i like to go back there. It has a huge waterpark, a zoo, 2 attractionparks, iceskate track, hotels and the mall is also very nice with different styles. It probably also has a cinema i would think and has great food from many country's.