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Thailand's Landmark ICONSIAM Ranked Among Top Four Best Shopping Centers in World

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Published
09/24/2021 by

Thailand's much acclaimed ICONSIAM urban lifestyle development project has been ranked among the four best shopping centers in the world from among 172 entries from 36 countries at the MIPIM 2021 awards event held in Cannes, France, during September 8-9, 2021.

ICONSIAM is the first Thai retail development to compete at the globally respected MIPIM Awards.

Dubbed the 'Academy Awards' of the property development industry, MIPIM was established in 1990 to recognise projects around the world for outstanding innovation, architecture, as well as integration and impact on the community.

ICONSIAM is a spectacular US$1.6 billion riverside destination in Bangkok that brings together, in a single, visually stunning location varied artistic and cultural offerings, public spaces for activities, entertainment, restaurants, a vast selection of shopping possibilities, including the largest number of super-luxury brand flagship stores, as well as two residential towers.

The 750,000-square-metre gross floor area (GFA) project's game-changing innovations in retail and destination development are credited with transforming Bangkok's legendary riverfront and revitalizing the city's Thonburi district.

Mrs. Chadatip Chutrakul, Chief Executive Officer of Siam Piwat Group – a joint-venture partner in the development – said, "Our aim, from the start, was to create a place that could further enhance Thailand's attractiveness as an amazing destination by working together with riverside and Thonburi communities to make ICONSIAM a place where the best of Thailand could meet the best of the world."

"Because of that, we blended commercial and cultural space on a massive scale with more than 100 local and international artists contributing their creations for display as integral parts of the development. We also built a 10,000 square metre riverside park for public use and sponsored public infrastructure worth more than US$50 million around the development, including the building of a light rail system to alleviate potential traffic congestion in the locality," she said.

Mrs. Chutrakul added that the project is differentiated by "our forging together of one of Thailand's most far-reaching collaborations among communities, cultural and artistic leaders, government agencies, and over 1,000 retail business owners and community enterprises, all of which influenced the final form of the destination".

ICONSIAM has been a catalyst development that has ignited tourism, investment, and property development on the west bank of the Chao Phraya River that runs through Bangkok. Along the road on which ICONSIAM is located, the value of land increased two-fold in five years, while the president of the riverside business association reported that shops and restaurants in the vicinity saw traffic and sales rise by 20% as a result of the destination's opening.

Mrs. Chutrakul said, "COVID-19 dealt a devastating blow to global travel. We hope that this recognition for ICONSIAM can contribute to a rapid recovery for Bangkok and Thailand as tourism destination."

ICONSIAM's roster of 13 other top global awards include Best Design of the Year at the World Retail Awards 2019 hosted by the World Retail Congress, first prize in the Best Shopping Center category at the MAPIC Awards 2019 in Cannes, France, and the 2020 VIVA Best-of-the-Best Design and Development Award, making it one of the most-awarded developments in Asia.

ICONSIAM is the largest private sector development project to have opened in Thailand and is a joint venture development owned by Siam Piwat, the owner and operator of prestige retail developments such as Siam Center, Siam Paragon, and Siam Discovery; Magnolia Quality Development Corporation (MQDC), the owner and developer of luxury quality residential and mixed-use projects; and multi-national conglomerate Charoen Pokphand Group. It is designed in collaboration with Urban Architects Co., Ltd.

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