Retail in Asia

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Thailand’s Siam Piwat spearheads USD1.14b Chao Phraya project

Siam Piwat Co, the 50-year-old operator of Thailand’s Siam Center, is joining with Charoen Pokphand Group and Magnolia Quality Development Corporation (MQDC) to develop a megaproject worth THB35 billion (USD1.14b) on the Chao Phraya River opposite Mandarin Oriental Bangkok Hotel.

The investment will be spread over three joint ventures, comprising Grand River Place Corp, Grand River Park Corp and Grand River Front Corp.

Chadatip Chutrakul, CEO of Siam Piwat, said details of the mix-used project are not finalised but the plan is for a retail plaza and residential condos.