Global Insights – ICONSIAM

P-THREE is a European property consultancy and agency business with a global perspective, which specialises in ultra mixed use developments. We look at everything first from the point of view of people, the consumer. With CV19 dominating the news and restricting travel, we thought for a change, we would bring you some global insights over the next six weeks which are informative in terms of property development trends and identify how these are being shaped by changing demands of consumers, occupiers and business.

Better known as a popular tourist destination, Thailand has come onto the world stage in terms of world class real estate development with much of this seen in Bangkok which benefits from an active foreign investment market. Developers such as Siam Piwat have established an enviable track record already with projects such as Siam Discovery and Siam Paragon which are recognised internationally for design excellence, technological innovation and regeneration.

Their latest ambitious development, ICONSIAM delivers in all of these areas as well as responding to consumers and businesses preference for mixed use destinations with strong transport links which also embrace culture, the arts and a sense of place and localism. ICONSIAM, which opened in 2018 is a USD 1.7 billion project comprising 750,000 sq m located on the banks of the Chao Phraya River in Bangkok.

This is much more than just shopping, living and working. ICONSIAM has been recognised for successfully creating a globally innovative model for destination development that moves away from being a mall or a mixed use complex. The SOOKSIAM brings the best of Thailand’s four main provinces into one “village” while ICONCRAFT curates high quality Thai craft. There is an indoor floating market, an art gallery, exhibition space as well as 500 shops, 100 restaurants from more than 30 countries.

There is River Park which gives access to river activities and green space, the ICONSIAM Heritage Museum provides international culture as well as there being boundless entertainment offerings including a state of the art auditorium and cineplex with restaurants and leisure.

At P-THREE we look beyond the established markets such as the US to find examples of how the real estate market continues to evolve to incapsulate global and local best practice. At ICONSIAM there is a balance between global brands with Takashimaya department store from Japan and Apple from the US, along with local operators in Siam Sook, the ground floor floating market with impressive features like temples, long-tail boats and Thai pavilions. This is a destination with something for everyone.

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