Thailand opened its biggest luxury shopping “Iconsiam”
The owners of a splashy riverside project in Bangkok of luxury shops, high-end condos and a large performance auditorium are tying their success to tourists aiming to attract 250,000 a day, mostly from mainland China and Hong Kong.
The US$1.6 billion Iconsiam’s first phase opened on November. The US$1.6 billion Iconsiam’s first phase opened on November 10. It features such international brands as Louis Vuitton, Hermes and Apple, as well as 300 local food and handicraft stalls representing the Southeast Asian country’s 77 provinces, plus the Magnolias Waterfront Residences and The Residences at Mandarin Oriental, Bangkok. It will even have its own monorail.
Iconsiam is a property development project that has the highest investment value of any to opened in Thai history. It was developed by a partnership of three Thai companies, namely Siam Piwat, Magnolia Quality Development Corporation and Charoken Pokphand Group.
Iconsiam’s development has been charted in partnership with civil society as well as the public and private sectors to create the first model project of urban development. With the support of the private sector, the project provides a complete transport system that connects land, rail and water transportation networks.
Fulya Altunyay /realestatecoulisse.com