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Tag: bangkok

  • Unveiling the Future of Retail: $575M ‘The Central’ Landmark Mall Set to Transform Bangkok’s Shopping Landscape

    Unveiling the Future of Retail: $575M ‘The Central’ Landmark Mall Set to Transform Bangkok’s Shopping Landscape

    Central Pattana, a leading retail and property development company based in Thailand, has recently publicized plans for a new shopping mall project in Bangkok. The project, named “The Central,” comes with a hefty price tag of $575 million and is slated to become the city’s new landmark shopping center in the northern district. Promising a mix of global brands and an array of retail experiences, The Central is poised to redefine the retail landscape of Northern Bangkok.

    The Central will be situated in the bustling northern central business district of Bangkok, stretching over an impressive 7851 square meters. The strategic location places the mall between Vibhavadi Rangsit Road and Phahon Yothin Road, two major thoroughfares in the city. The grand opening of the high-profile establishment is scheduled for the last quarter of next year.

    Chanavat Uahwatanasakul, the President of Retail and Development at Central Pattana, spoke enthusiastically about the project. He emphasized that The Central will carry forward the company’s legacy of top-tier shopping centers to the northern part of the city. Uahwatanasakul also spoke of the project as representing a significant step in urban evolution, fusing commerce, creativity, and community into a globally acclaimed experience. He envisions the new project as a catalyst for the next phase of retail and cultural development, potentially catapulting Bangkok into the league of the world’s most dynamic and liveable cities.

    The Central aims to provide seamless accessibility by connecting to major transportation services like the BTS, MRT, and the Don Mueang International Airport. Furthermore, it expects to draw in a large number of consumers from a 2.6 million-strong catchment area. According to Central Pattana, the consumers in this local catchment boast a purchasing power that is 2.3 times higher than the city’s average. The company also predicts retail sales, based on gross leasable area, to outperform other city malls by 45 per cent. Visitor frequency is expected to be twice that of the city’s average.

    The project is conceptualized under the theme “Flagship-reimagined destination,” aiming to attract global retailers seeking to launch flagship stores. The architectural design and interior layout have been meticulously planned to cater to this demand.

    Juthatham Chirathivat, Head of Business at Central Pattana, elaborates that The Central is much more than a shopping center. It is envisaged as a curated community for the new generation, marrying global design excellence with Thai hospitality. He believes that this unique blend of multi-generational living, flagship retail, and sustainable innovation will significantly shape the future of Bangkok.

    Questions & Answers

    What is the projected visitor frequency at The Central?
    The projected visitor frequency at The Central is expected to be twice the average of Bangkok city.

    What is the concept behind the design of The Central?
    The Central is designed under the theme “Flagship-reimagined destination,” aiming to cater to global retailers planning to establish their flagship stores.

    Who are the key people involved in the development of The Central?
    The key people involved in the development of The Central are Chanavat Uahwatanasakul, the President of Retail and Development at Central Pattana, and Juthatham Chirathivat, the Head of Business at Central Pattana.

  • Thailand to Levy Taxes on All Foreign Online Purchases in Boost to Local Businesses

    Thailand to Levy Taxes on All Foreign Online Purchases in Boost to Local Businesses

    Beginning January next year, Thailand will impose taxes on all foreign goods sold through online platforms, thereby ending the current exemption on low-value imports priced under 1500 baht (US$46.30).

    Creating a Fair Market

    According to Panthong Loikulnan, the Director-General of the Customs Department, the objective of this move is to level the competition for local businesses and increase government revenue. The current situation gives foreign goods an edge over Thai businesses, putting Small and Medium-sized Enterprises (SMEs) at a disadvantage.

    New Tax System for Imports

    The newly instated system will subject all imported goods, regardless of their value, to customs duties and Value-Added Tax (VAT) as required by the law. This change supersedes the existing tariff exemption, which will be phased out by the end of this year.

    Goods priced below 1500 baht currently represent over 30 billion baht ($927 million) in annual imports. Loikulnan estimates that imposing an average 10 per cent duty could generate at least an additional 3 billion baht ($92.7 million) in government revenue each year.

    The proposed system will primarily rely on data verification from online platforms and random inspections to ensure compliance. Furthermore, Thailand’s customs department is currently in discussions with major e-commerce operators to directly link their sales and import data.

    Protecting Domestic Retailers

    Loikulnan believes that this reform will help establish a fair market for domestic retailers who are already paying taxes and are particularly impacted by the wave of low-cost imported products.

    In his opinion, delaying the implementation of such a system would put Thailand at a disadvantage since many other countries are grappling with the same issue: domestic sellers pay taxes, while foreign goods are imported tax-free.

    Lump-sum Tax Proposal

    For the long term, Loikulnan suggests introducing a “lump-sum tax”, which implies a flat rate of 20 to 30 per cent per imported package. This would simplify the system and increase efficiency. However, he acknowledges that such a change would necessitate legislative amendments and would take time to implement.

    Questions & Answers

    What is the objective of Thailand’s new tax system?
    The aim is to level the playing field for local businesses and increase government revenue.

    How will the new system work?
    All imported goods, regardless of their value, will be subject to customs duties and VAT. The system will rely on data verification from online platforms and random inspections to ensure compliance.

    What is the proposed “lump-sum tax”?
    The “lump-sum tax” refers to a flat rate of 20 to 30 per cent per imported package, suggested as a long-term solution to simplify the system and increase efficiency.

  • Thailand Abolishes Tax Exemptions for Online Purchases from Abroad: A Boost for Local Businesses

    Thailand Abolishes Tax Exemptions for Online Purchases from Abroad: A Boost for Local Businesses

    Thailand is set to impose taxes on all foreign goods sold through online platforms starting from January of next year. This move marks an end to the existing exemptions granted to low-value imports that are priced under 1500 baht (US$46.30).

    Creating a Fair Business Environment

    Panthong Loikulnan, the director-general of the customs department, has said that the motivation behind this change is to establish a more level playing field for local businesses and to increase government revenue. He stated, “The absence of duties grants foreign goods an advantage over Thai businesses. This is particularly unjust to our SMEs.”

    In the new system, all imported goods, regardless of their value, will be subject to customs duties and value-added tax (VAT) as mandated by law. This change is set to replace the existing tariff exemption which is due to expire at the end of this year.

    Currently, imported goods priced below 1500 baht account for over 30 billion baht ($927 million) in annual imports.

    Loikulnan has indicated that enforcing an average 10 per cent duty could generate at least an additional 3 billion baht ($92.7 million) in government revenue each year.

    Ensuring Compliance

    The system will primarily depend on data verification from online platforms. Random inspections will also be carried out to ensure compliance.

    Thailand’s customs department has been engaging in discussions with major e-commerce operators, including Shopee and Lazada, to directly link their sales and import data.

    Loikulnan stated that this reform will assist in leveling the playing field for domestic retailers who are already paying taxes, particularly the small and medium-sized enterprises that are affected by the surge of low-cost imported products.

    He expressed concerns about the delay in implementing this process, stating that, “If we procrastinate, we will find ourselves at a disadvantage because all other countries are beginning to face the same issue: domestic sellers pay taxes, but foreign goods are imported tax-free.”

    Future Suggestions

    For the longer term, Loikulnan suggested introducing a “lump-sum tax”, which would be a flat rate of 20 to 30 per cent per imported package. He believes this would help simplify the system and increase its efficiency. However, he noted that such a change would necessitate legislative amendments and would require time to implement.

    Questions & Answers

    What is the motivation behind the imposition of taxes on foreign goods sold online?
    The introduction of the tax is aimed at creating a level playing field for local businesses and increasing government revenue.

    How will the system ensure compliance?
    The system will primarily depend on data verification from online platforms, with random inspections being carried out to ensure compliance.

    What is the ‘lump-sum tax’ that is being suggested for the longer term?
    The ‘lump-sum tax’ refers to a flat rate of 20 to 30 per cent per imported package. This is aimed at simplifying the system and increasing its efficiency.

  • Gong Cha Hits Thailand with Bold Expansion: Bubble Tea Giant Targets 100 New Stores in Latest Global Growth Surge

    Gong Cha Hits Thailand with Bold Expansion: Bubble Tea Giant Targets 100 New Stores in Latest Global Growth Surge

    Gong Cha, a leading global bubble tea brand, has recently launched its first concept store in Thailand. The new establishment is a result of a collaboration with Perfect Step, a local master franchisee and a subsidiary of Thai Outdoor Group.

    Strategic Location and Expansion Plan

    The new Gong Cha outlet is strategically located on the third floor of the Beacon Zone in CentralWorld. This store is the first move in an aggressive expansion plan, with the brand aiming to establish up to 100 stores across Thailand in the near future.

    Embracing Technology and Authenticity

    Every proposed Gong Cha outlet will present the brand’s Gong Cha 2.0 design. This modern and innovative design incorporates technology to enhance service speed and adaptability while maintaining the brand’s commitment to serving authentic whole-leaf teas.

    Focused on Global Expansion

    The Thailand launch is another milestone in Gong Cha’s ambitious global expansion plan. The brand recently made its foray into Colombia and aims to establish 10,000 outlets worldwide over the next decade. Gong Cha isn’t just focused on Asian markets; the brand will soon open its first Caribbean outlet at Atlantis Paradise Island.

    Accelerated US Expansion

    In the United States, Gong Cha is rapidly expanding its footprint through multi-unit franchise agreements in Milwaukee, Portland, and Nashville. The bubble tea brand has set a target of surpassing 500 locations across the country by 2028. To achieve this goal, Gong Cha is actively seeking top-tier franchise partners in regions including Southern California, Nevada, Utah, and the Southeastern US.

    Return to the Singapore Market

    Gong Cha had to exit the Singapore market after its franchise agreement with Gong Cha Singapore, which had been operating the brand since 2017, came to an end. However, Gong Cha Global has announced plans to re-enter the market next year.

    Currently, Gong Cha operates 2,200 locations in 30 international markets.

    Questions & Answers

    What is Gong Cha’s expansion plan for Thailand?
    Gong Cha plans to open up to 100 stores across Thailand.

    What is unique about the new Gong Cha outlets in Thailand?
    The new Gong Cha outlets in Thailand will feature the brand’s Gong Cha 2.0 design, which blends technology and authenticity, enhancing service speed and adaptability while staying true to authentic whole-leaf teas.

    What is Gong Cha’s expansion goal in the United States?
    Gong Cha aims to surpass 500 locations across the US by 2028 through multi-unit franchise agreements.

  • Drop By Dough: Thailand’s Doughnut Sensation Makes Sweet International Debut in Hong Kong

    Drop By Dough: Thailand’s Doughnut Sensation Makes Sweet International Debut in Hong Kong

    Drop By Dough, a renowned doughnut brand from Thailand, has launched its first international outlet in Hong Kong.

    Store Design and Location

    Situated in Central Hong Kong, the shop’s interior combines terracotta tiles and wooden furniture to create a warm and inviting atmosphere. The founders aim to provide a haven of relaxation where customers can momentarily escape the frenetic pace of the city while indulging in freshly made doughnuts and coffee.

    Origins of Drop By Dough

    Drop By Dough was established in Bangkok in December 2019 by Narongrit Sritalanon and Chalermphol Akkarapinyokul. The brand was born out of their mutual love for visiting doughnut shops during their travels.

    Expansion to Hong Kong

    Arnold Lau, associate director-general of investment promotion at InvestHK, commented that Drop By Dough’s decision to choose Hong Kong as their first international location further cements the city’s status as a leading hub for global retailers. He also expressed InvestHK’s eagerness to support Drop By Dough’s development and success.

    Product Offering

    Drop By Dough takes pride in crafting their doughnuts every day using a blend of international and native ingredients. Their signature varieties include Raspberry Rose, Classic Vanilla, Nutella Hazelnut, and Kyoto Matcha & Red Bean.

    Special flavors unique to the Hong Kong branch include Pistachioooooo – a doughnut filled with pistachio custard and topped with roasted pistachios – and Mango Kati, which features a distinctive Thai flavor profile.

    Questions & Answers

    Where is Drop By Dough’s first international outlet located?
    The first international outlet of Drop By Dough is located in Central Hong Kong.

    Who are the founders of Drop By Dough?
    Drop By Dough was founded by Narongrit Sritalanon and Chalermphol Akkarapinyokul.

    What unique flavors does the Hong Kong branch of Drop By Dough offer?
    The Hong Kong branch of Drop By Dough offers exclusive flavors such as Pistachioooooo and Mango Kati.

  • Swedish Chic Hits Bangkok: Acne Studios Launches First Store in Thailand at Siam Paragon

    Swedish Chic Hits Bangkok: Acne Studios Launches First Store in Thailand at Siam Paragon

    Acne Studios, a leading fashion house from Sweden, has made its debut in Thailand with the inauguration of its first outlet at Siam Paragon, located in Bangkok.

    Design Aesthetics

    The new store, nestled in the heart of the city’s primary shopping area, mirrors the brand’s distinctive, minimalist retail design concept with a specific emphasis on materials. Conceived by the brand’s creative director Jonny Johansson in collaboration with Halleroed, a renowned Swedish architecture firm, the store’s innovative design language is seamlessly integrated with Acne Studios’ worldwide aesthetic.

    Pink granite is the highlight of the store’s design, utilized extensively throughout the facade, flooring, and structural pillars. It plays a pivotal role in establishing the brand’s unique visual identity and setting a unique ambiance for the store.

    Product Range

    The Siam Paragon store will showcase Acne Studios’ Autumn/Winter 2025 collections for men and women. Customers can also shop for shoes, accessories, and the brand’s latest product, the Camero bag.

    Expansion in Asia-Pacific

    The opening of the Bangkok store marks yet another milestone in Acne Studios’ ambitious expansion plan across the Asia-Pacific region. The inauguration follows closely on the heels of the recent launch of a flagship store in Tokyo’s Aoyama district, as the brand seeks to intensify its presence in key regional markets renowned for high-end contemporary fashion.

    Questions & Answers

    What design concept does the new Acne Studios store in Bangkok follow?
    The store mirrors the brand’s distinctive minimalist retail design concept with a specific emphasis on high-quality materials. It features an extensive use of pink granite, setting a unique ambiance for the store.

    What products does the new Acne Studios store offer?
    The store offers Acne Studios’ Autumn/Winter 2025 collections for both men and women. It also retails footwear, accessories, and the newly launched Camero bag.

    What does the opening of the new store in Bangkok signify for Acne Studios?
    The opening of the Bangkok store marks yet another milestone in Acne Studios’ ambitious expansion plan across the Asia-Pacific region. It follows the recent launch of a flagship store in Tokyo’s Aoyama district.

  • Mouawad Debuts First Asian Boutique in Bangkok, Unveiling Masterpiece Collection of Rare Gems

    Mouawad Debuts First Asian Boutique in Bangkok, Unveiling Masterpiece Collection of Rare Gems

    The famed fine-jewellery brand, Mouawad, has expanded its global presence with the inauguration of its premier boutique in Thailand. Located on the ground floor of The Emporium in the bustling city of Bangkok, this new establishment marks the brand’s initial foray into the Asian retail location.

    Mediterranean-Inspired Boutique Design

    Mouawad’s Bangkok boutique showcases a unique Mediterranean-inspired design. It is adorned with terracotta tones, arches, and olive motifs, echoing the aesthetic first debuted at Mouawad’s London store. This design concept is meant to provide a warm, welcoming atmosphere to entice and exhilarate its clientele.

    Sun on the Seven Wonders Masterpiece Collection Launch

    To celebrate the opening of the new boutique, Mouawad is unveiling its complete ‘Sun on the Seven Wonders’ Masterpiece Collection. This collection, which pays tribute to iconic global landmarks, features yellow diamonds as a primary motif. The stunning pieces are designed to encapsulate the splendour and grandeur of these world wonders.

    Appreciation of Asian Clientele

    Fred Mouawad, co-guardian of the house, expressed his enthusiasm for the Bangkok boutique’s opening. He acknowledged the city’s importance as a nexus of culture and luxury, and expressed gratitude towards the Asian clientele, whose respect for artistry and heritage perpetually inspires the brand’s evolution.

    Mouawad: A Legacy of Craftsmanship

    Established in 1890, Mouawad has its headquarters in Geneva. The brand is renowned for its exceptional craftsmanship, particularly with rare gemstones. It is also a multiple Guinness World Records recipient for its exquisite diamond creations.

    The Bangkok boutique signifies Mouawad’s strategic move to increase its presence in Asia, a region that remains highly significant in the high-end jewellery market.

    Questions & Answers

    What is unique about the design of Mouawad’s new boutique in Bangkok?
    The Bangkok boutique showcases a Mediterranean-inspired design, featuring terracotta tones, arches, and olive motifs. This aesthetic was first introduced in Mouawad’s London store.

    What is the ‘Sun on the Seven Wonders’ Masterpiece Collection?
    The ‘Sun on the Seven Wonders’ Masterpiece Collection is a series of jewellery pieces inspired by iconic global landmarks. It features yellow diamonds as a primary motif.

    What is Mouawad’s relationship with the Asian market?
    Mouawad values its Asian clientele for their appreciation of artistry and heritage. The opening of its Bangkok boutique marks the brand’s first retail location in Asia, hinting at a strategic plan to grow its presence in this key market for high-end jewellery.

  • Bangkok Tops List as World’s Most Expensive City for Renters, Reveals DWS Housing Affordability Review 2025

    Bangkok Tops List as World’s Most Expensive City for Renters, Reveals DWS Housing Affordability Review 2025

    Bangkok, Thailand’s capital city, has distinguished itself as the least affordable city in the world for renters, as per the Housing Affordability Review 2025. The report, compiled by Germany’s DWS, indicates that the average middle-class family in Bangkok spends nearly 79% of their disposable income on renting a two-bedroom apartment.

    The Root of High Rental Rates

    The city’s inflated rental prices are primarily due to a scarcity of condominiums. The second quarter saw condo availability drop to a 16-year low, a situation exacerbated by climbing construction costs and high-interest rates.

    Global Ranking of Affordability

    Following Bangkok, Mumbai and Mexico City were ranked second and third as the least affordable cities, with renters spending 66% of their disposable income on rent. Hong Kong came in fourth at just over 60%, and Johannesburg, South Africa, was in fifth place at approximately 58%. These cities are part of a group of 24 global cities with the most challenging rental markets. Other Asian cities on this list include Manila, Beijing, Hanoi, and Singapore.

    The study analyzed the rent to median disposable income ratio in 80 cities. A lower ratio signifies more affordable rent, with the worldwide average ratio standing at 38%.

    Cities with More Affordability

    On the other end of the spectrum, Salt Lake City was deemed the most affordable city, with a ratio of 20%. Leipzig and Austin followed closely, both featuring a ratio of 23%.

    Cities that ranked lower in affordability experienced a more significant decrease in affordability ratios compared to those ranking higher. Additionally, these cities saw their remaining spending power increase at a slower rate compared to cities demonstrating more economic resilience.

    Disposable Income After Rent

    The report also calculated the disposable income households have left after paying their monthly rent. Singapore topped the list globally with approximately $8,000 of leftover income, which is twice the global average. San Francisco followed with $7,650, and Abu Dhabi was third with $7,000.

    According to the report, wealthier cities typically benefit from high-income levels and balanced housing costs, which allows residents to retain robust purchasing power even after paying rent.

    Questions & Answers

    What factors contribute to Bangkok’s high rental rates?
    A lack of available condos, heightened construction costs, and high-interest rates are all factors that contribute to Bangkok’s high rental rates.

    Which city has the most affordable rental market?
    Salt Lake City is considered the most affordable city for renters, with a rent to disposable income ratio of 20%.

    Which cities have the highest disposable income after rent payments?
    Singapore, San Francisco, and Abu Dhabi lead the world in terms of disposable income after rent, with Singapore households having an average of $8,000 left over.

  • Miniso Debuts Its First ‘miniso Land’ In Thailand, Aiming To Transform Traditional Retail

    Miniso Debuts Its First ‘miniso Land’ In Thailand, Aiming To Transform Traditional Retail

    Miniso, a Chinese lifestyle brand, has made a significant stride in its global expansion strategy with the opening of its first Miniso Land store in Thailand. The new retail spot is situated in the bustling Siam Square shopping district of Bangkok, covering an impressive area of over 1000 square meters spread across three levels.

    Store Features

    This expansive store showcases more than 80 Intellectual Property (IP) characters, such as Harry Potter, Stitch, and popular characters from Sanrio. Also featured is Miniso’s proprietary IP line, DunDun Chicken, making its introduction to the Thai market through this store.

    In a statement, Miniso disclosed that products based on IP characters make up approximately 80% of the store’s entire product collection. This emphasizes Miniso’s retail strategy of enhancing the customers’ in-store experience by accentuating character-themed products.

    A Model for Success

    Jun Wang, CEO of Miniso Thailand, commented that this innovative retail model has proven successful in every location it has been implemented, by offering a more interactive shopping experience. Wang noted that the new store significantly contributes to their commitment towards the region and mirrors their ambition to transform traditional retail through inventive experiences and creative design.

    The Miniso Land concept originated in Shanghai in the previous year and has now grown to include 15 locations throughout China. The company has expressed its intention to continue the expansion of these experiential stores in Thailand’s primary commercial zones, especially those popular with younger demographics.

    Earlier this year, Miniso further demonstrated its growing influence in Thailand by unveiling its first flagship store near Asiatique Sky, which is home to Bangkok’s largest Ferris wheel.

    Questions & Answers

    What is unique about the new Miniso Land store in Thailand?
    The store is unique for its large array of IP character-based products, including their own IP line, DunDun Chicken, which is making its debut in the Thai market.

    What is the company’s strategy with these experiential stores?
    Miniso aims to redefine traditional retail by offering innovative and interactive shopping experiences, with a special focus on character-driven retail experiences.

    What does the opening of this store indicate about Miniso’s presence in Thailand?
    The opening of the first Miniso Land in Thailand, following the unveiling of its first flagship store, shows that Miniso is solidifying its presence and marking significant growth in the country.

  • Central Pattana Invests $640m In Transformative Northern Bangkok Lifestyle Hub

    Central Pattana Invests $640m In Transformative Northern Bangkok Lifestyle Hub

    Central Pattana, a division of Thailand’s Central Group that specializes in property development, plans to infuse a staggering 21 billion baht (US$640 million) into the creation of an expansive new shopping and lifestyle hub in northern Bangkok.

    The Central Phaholyothin: More than Just a Mall

    The development, dubbed The Central Phaholyothin, will grace the Phaholyothin Road with its vast 457,000 square metre footprint. The complex will be a blend of retail, dining, entertainment, and cultural facilities, incorporating a concert hall and a convention centre tailored to accommodate international events. Furthermore, the prime location of the site will allow for a direct train connection to Don Mueang International Airport.

    Chanavat Uahwatanasakul, the Retail and Development President at Central Pattana, commented on the strategic placement of the development. “We have chosen a prime location that enables us to cater to more than 2.5 million people in northern Bangkok. However, The Central Phaholyothin aims to be more than just a shopping mall; it will be a world-class destination for entertainment, culture, and business.”

    Key Features of The Central Phaholyothin

    The Central Phaholyothin is set to be peppered with several distinctive features, all designed with a view to draw visitors and create a vibrant, energetic space. Some of the key features include:

    – Central Stage: This will serve as a connection between an upper-level international dining area and a ground-level street food zone.
    – Market Hall: A revolving pop-up space envisioned to host food and cultural events.
    – Waterfall Courtyard: An eco-friendly centerpiece featuring an Edible Garden, reflecting the ‘from farm to table’ concept.

    Moreover, other areas will be dedicated to fashion, family lifestyle, and creative arts.

    Nattakit Tangpoonsinthana, the Chief Marketing Officer at Central Pattana, mentioned that the project is designed to redefine northern Bangkok and enhance the city’s status as an international destination. “Through our developments, we have been successful in transforming key districts into significant landmarks. With The Central Phaholyothin, we aim to establish a new cultural and business hub that can rival the likes of global cities such as New York, London, Seoul, and Tokyo.”

    The Central Phaholyothin is expected to be completed by the end of next year.

    Questions & Answers

    What is the aim of The Central Phaholyothin project?
    The project aims to redefine northern Bangkok and enhance the city’s status as an international destination for entertainment, culture, and business.

    What are some of the key features of The Central Phaholyothin?
    Key features include the Central Stage, Market Hall, and Waterfall Courtyard, along with zones dedicated to fashion, family lifestyle, and creative arts.

    When is The Central Phaholyothin expected to be completed?
    The Central Phaholyothin is scheduled for completion by the end of next year.

  • Siam Paragon Ascends As Luxury Watch Destination Following Successful Bangkok Watch Week 2025

    Siam Paragon Ascends As Luxury Watch Destination Following Successful Bangkok Watch Week 2025

    The renowned Siam Paragon, positioned at the heart of Bangkok, Thailand, solidified its reputation as the leading destination for luxury watches following the enormous success of Siam Paragon Bangkok Watch Week 2025.

    Founders, proprietors, and top-tier executives of globally recognized watch houses journeyed to Bangkok for the six-day event, which attracted a large population of affluent individuals, discerning collectors, and watch aficionados from Thailand and across the globe.

    A Premier Luxury Watch Event

    “Siam Paragon Bangkok Watch Week 2025 achieved remarkable success as the inaugural watch festival of its kind in Southeast Asia,” stated Thanaporn Tantiyanon, MD of Siam Paragon’s business unit. “This event’s triumph proves that today’s market is seeking more than mere transactions. It’s about crafting unique moments and extraordinary experiences, which is exactly what Siam Paragon Bangkok Watch Week 2025 offered both brands and participants.”

    The event, which took place from September 23 to 28 at Siam Paragon, brought together over 30 of the world’s most distinguished luxury watch brands, including A Lange & Söhne, Bianchet, Bulgari, Breitling, Bovet, Boucheron, Cartier, Chopard, Franck Muller, Grand Seiko, Girard-Perregaux, H Moser & Cie, Hublot, IWC Schaffhausen, Jaeger-LeCoultre, Jaquet Droz, Laurent Ferrier, Louis Erard, Omega, Panerai, Piaget, Tag Heuer, Tiffany & Co, Van Cleef & Arpels, Ulysse Nardin, Vacheron Constantin, and Zenith.

    Expert Insights

    In the array of experts present, Wei Koh, a globally recognized authority in the watchmaking industry, stood out as a significative figure. The founder and editor of Revolution magazine, Koh regaled audiences with his personal journey and innovative insights on timepiece creation during The Symposium, which featured presentations from executives of prominent watch Maisons.

    Tantiyanon noted that the event marked a historic moment as the most prestigious and wide-ranging watch festival ever hosted in Southeast Asia. It attracted a variety of audiences, including collectors, investors, brands, maisons, and passionate enthusiasts. With its positioning as the region’s sole horology event set to become a regular feature on the international watch calendar, Siam Paragon Bangkok Watch Week 2025 set itself apart.

    A Showcase of Exceptional Timepieces

    The Siam Paragon Bangkok Watch Week 2025 captivated enthusiasts with The Exhibition, a unique display of prized timepieces valued at over THB 1 billion (US$31 million). The collection showcased more than 15 watches, featuring gems like the Patek Philippe Calatrava Salmon Dial, circa 1944, and the Audemars Piguet Master02, limited to only 250 pieces worldwide. The Bvlgari Fenice Octo Roma Secret, a unique masterpiece valued at over THB 23 million ($712,000), was a standout piece.

    The event also provided a prime platform for global and regional launches of remarkable timepieces from leading Maisons. Chopard unveiled the LUC XPS Urushi Naga Limited Edition, Louis Erard introduced the Le Régulateur Louis Erard x Vianney Halter Thailand Edition, and Grand Seiko presented the Spring Drive UFA Violet Dawn, among others.

    Questions & Answers

    What was the significance of Siam Paragon Bangkok Watch Week 2025?
    Siam Paragon Bangkok Watch Week 2025 was a historic event. It was the first watch festival of its kind in Southeast Asia, attracting watch enthusiasts, high-net-worth individuals, and industry experts globally.

    What brands were present at the event?
    The event brought together over 30 of the world’s most prestigious luxury watch brands. These included globally recognized names like Bulgari, Cartier, Jaeger-LeCoultre, Omega, Tiffany & Co, and many others.

    What unique features did the festival offer?
    The festival offered enthusiasts The Experience, where they could explore innovative creations and exclusive activities presented by world-renowned brands. The Exhibition, a showcase of exceptional timepieces valued at over THB 1 billion (US$31 million), was another key feature of the event.

  • Thailand’s Bold Strategy: Unlocking $1.8 Billion in Power Generation Savings

    Thailand’s Bold Strategy: Unlocking $1.8 Billion in Power Generation Savings

    Thailand is on the brink of a transformative shift in its energy landscape, projected to save an impressive $1.8 billion in power generation costs from 2026 to 2037. This could be achieved by exceeding the current targets of its revised Power Development Plan (RPDP) with significant upgrades in solar and battery storage capacity.

    Unlocking Savings Through Solar and Battery Power

    In an enlightening analysis, Ember has suggested that by boosting solar capacity by 89% and battery storage by 60% beyond the existing RPDP targets, Thailand can realize substantial savings, enhance energy security, and attract vital investments. Currently, the RPDP aims for 36 gigawatts (GW) of solar and 10.5 GW of battery storage by 2037.

    A Proposal for Enhanced Capacity

    Ember’s proposal includes an additional 32 GW of solar capacity and 6 GW, or 15 gigawatt-hours, of battery storage over the plan’s existing goals, coupled with a reduction of 2 GW in new gas-fired capacity. This proactive approach not only aims to prevent the construction of excessive fossil fuel infrastructure but also slashes natural gas consumption by 11% and avoids the use of 2.4 million tonnes of coal.

    Investment for a Greener Future

    The analysis notes that while the total fixed expenditures for this cost-optimal pathway would reach $168 billion by 2037—higher than the RPDP’s estimate of $153 billion—the advantages of embracing solar and battery technology could lead to nearly $16 billion in avoided fossil fuel expenditure. As a result, net savings in power generation costs for Thailand would amount to $1.8 billion, including $0.8 billion saved in variable operation and maintenance costs.

    Rethinking Energy Sources

    Ember’s findings advocate for a robust deployment of solar and battery technologies as the most cost-effective strategy, recognizing the limited wind energy potential in Thailand. Yet, the interplay between wind and solar should not be overlooked, given the natural ebb and flow of solar generation.

    “The energy transition of Thailand towards home-grown renewables could lower energy costs, cut emissions, and strengthen energy security by mitigating dependence on fossil fuel imports,” remarked Lam Pham, the report’s author and energy analyst for Asia at Ember. In short, it looks like Thailand isn’t just aiming for energy independence; it’s gearing up to create its own renewable energy empire.

    Questions & Answers

    What role will solar and battery storage play in Thailand’s energy future?
    Solar and battery storage are set to significantly reduce reliance on fossil fuels, enhance energy security, and lead to considerable cost savings in power generation.

    How much could Thailand save by exceeding its current energy targets?
    By adding more solar and battery storage capacity, Thailand could save approximately $1.8 billion between 2026 and 2037.

    What does the Ember report suggest about gas-fired power plants?
    The report proposes reducing planned gas-fired capacity by 2 GW while increasing renewable capacity, indicating a strategic shift towards sustainability.

  • Siam Paragon Unveils $39m Investment In Three New World-class Attractions

    Siam Paragon Unveils $39m Investment In Three New World-class Attractions

    Siam Paragon, a well-known retail destination situated in Bangkok, Thailand, is set to launch three new world-class attractions later this year.

    The initiative, which represents an investment exceeding THB 1.25 billion (approximately US$39 million) and a marketing budget of THB 200 million (US$6 million), is aligned with Siam Paragon’s objective to provide unique attractions that attract international visitors and boost footfall to its retail spaces.

    For instance, the Sea Life Bangkok, one of the largest aquariums in Southeast Asia, nestled within the basement of Siam Paragon, covers an area of 10,500 sqm and attracts over 2.5 million visitors each year.

    Upcoming Attractions

    Following the success of the aforementioned aquarium, Siam Paragon plans to expand its range of attractions by introducing two additional world-class features. These attractions, spanning across 20,000 sqm, consist of MeLand, the first indoor theme park in Thailand, occupying 5000 sqm, and Nextopia, a unique 15,000 sqm prototype representing the ‘world of tomorrow’.

    The inclusion of these new attractions will integrate a total of 30,500 sqm of unique attractions, making Siam Paragon the most diverse entertainment destination in Thailand, catering to a broad spectrum of visitors.

    Furthermore, the center is preparing to launch Siam Paragon Dining Phenomenal, a vibrant dining hub with a selection of over 700 global and local restaurants, cafes, dessert bars, and kiosks.

    A Sneak Peek into Nextopia and MeLand

    Nextopia, supported by an investment of THB 850 million (approximately $26.3 million), is a collaborative endeavor with 50 ‘innovation partners’ and 30 ‘friends’ of Nextopia communities. This endeavor aims to create a better world that brings meaning, joy, entertainment, and a commitment to quality and sustainable living.

    MeLand, to be constructed on the fifth floor of Siam Paragon with an investment of THB 400 million (approximately US$12.5 million), promises to provide families with a world of boundless imagination, play, and discovery, boasting over 100 attractions and 500 edutainment experiences.

    Siam Paragon Dining Phenomenal: Culinary Delights Await

    Siam Paragon is confident that the launch of Siam Paragon Dining Phenomenal will cement its reputation as Asia’s largest and most comprehensive culinary destination, bringing together over 700 restaurants across every level of the mall.

    Starting from the newly renovated Paragon Food Court and Food Hall, visitors can explore over 100 renowned street food eateries that encapsulate the vibrant flavors of Bangkok. The culinary journey continues with legendary Thai eateries, globally-recognized chefs, and unique international introductions.

    A new zone named Eatelier Dining Entertainment, featuring 30 restaurants, offers an artistic touch to every dining experience. Customers can enjoy live performances by bands and DJs, creating a captivating ambience suitable for both day and night.

    A Significant Step for Siam Paragon

    The unveiling of these three attractions in the last quarter of the year represents a significant step in Siam Paragon’s journey as it celebrates its 20th anniversary.

    A representative from Siam Paragon emphasized that the new developments underscore the center’s commitment to delivering “unparalleled experiences to over 100 million visitors annually” and will further elevate Bangkok’s stature as a top destination for global visitors.

    Questions & Answers

    What are the new attractions at Siam Paragon?
    Siam Paragon is set to launch three new attractions: Nextopia, MeLand, and Siam Paragon Dining Phenomenal.

    What is Nextopia?
    Nextopia is a unique prototype that represents a future world. It aims to inspire every step of life with meaning, joy, entertainment, and a commitment to quality and sustainable living.

    What can visitors expect at MeLand?
    MeLand, an indoor theme park, promises to provide families with a world of boundless imagination, play, and discovery with over 100 attractions and 500 edutainment experiences.

  • Bangkok Set to Unveil Over 427,000 sqm of New Industrial Space This Year!

    Bangkok Set to Unveil Over 427,000 sqm of New Industrial Space This Year!

    Amid a rapidly evolving logistics landscape, Thailand’s Greater Bangkok market is poised for significant changes in warehouse rental dynamics. According to a recent report from JLL, the prime grade warehouse rental rate is expected to experience a slight decline in the near to medium future. This decline comes as over 427,000 square meters of leasable space is scheduled for completion in 2025, accompanied by an additional 378,000 square meters planned for 2026 and 2027.

    Developers Strategize in a Competitive Arena

    The JLL report emphasizes that developers are likely to diversify their asset classes and strategies within the logistics and industrial sectors as competition heats up. The anticipated growth in manufacturing is set to drive demand for solutions that effectively capture both logistics and industrial needs.

    Net Absorption Hits New Low

    In a development that might raise eyebrows, net absorption of prime warehouse space recorded a meager 66,100 square meters in Q2, marking the lowest figure since Q1 2024. This dip is attributed to reduced occupancy rates in the Eastern Economic Corridor (EEC), despite the completion of major built-to-suit projects in Wang Noi, Ayutthaya.

    Vacancy Rates on the Rise

    Consequently, the market vacancy rate surged by 1.0%, reaching 11.4% in Q2 2025. The increase can be traced back to negative take-up in select EEC projects, underscoring the evolving challenges within this critical area of Thailand’s logistics scene.

    New Projects Fuel Growth in Northern Vicinity

    The completion of three significant projects in Q2 2025 added 125,500 square meters of net leasable area to the market. These include SCX Logistics Bangna Km.20 – Phase 1, ESR Asia Bowin (W1/W2), and the Big C Bang Pa-in Distribution Centre. Notably, the 89,000-square meter built-to-suit Big C facility in Ayutthaya reflects the surging demand in the Northern Vicinity among consumer goods retailers.

    Rental Rates Struggle Amidst Tough Competition

    Amidst this backdrop, rental rates have dipped slightly to 159 THB per square meter per month, maintaining a rather static average over the past two years. This stagnation is largely due to intensified competition from several newcomers entering the market. The overall market capital value showed a marginal quarter-on-quarter decline of 0.2%, now averaging THB 31,505, as a result of rental rate compression.

    Questions & Answers

    What are the trends affecting warehouse rental rates in Greater Bangkok?
    JLL’s report highlights an expected slight decline in prime grade warehouse rental rates, driven by the upcoming completion of a significant amount of new leasable space.

    How has net absorption in the warehouse market changed?
    Net absorption fell to 66,100 square meters in Q2, marking the lowest since early 2024, influenced largely by reduced occupancy in the Eastern Economic Corridor.

    What impact do new projects have on the logistics market in Northern Vicinity?
    The recent completion of major projects, especially the Big C Bang Pa-in Distribution Centre, indicates a growing demand from consumer goods retailers in the Northern Vicinity.

  • Naraya Opens Flagship Store In Bangkok’s Chinatown, Showcasing Exclusive Collections And Extended Hours

    Naraya Opens Flagship Store In Bangkok’s Chinatown, Showcasing Exclusive Collections And Extended Hours

    Naraya, a renowned brand specializing in fabric bags, has established a new flagship store in the heart of Bangkok’s Chinatown, specifically at the busy crossroads of Yaowarat Road and Phadung Dao Road.

    Store Highlights

    The store boasts an extensive collection, with over 2000 specially selected items sourced from the brand’s vast inventory of more than 30,000 SKUs. This new flagship store sets itself apart from the rest with its unique extended hours, from 9 am to midnight. This change is designed to accommodate evening shoppers and international tourists, who often explore the Chinatown district after sunset.

    Exclusive Collections

    In addition to a wide array of offerings, the flagship store showcases exclusive collections, including the Chinese New Year Collection, the Silk line, and the vibrant Vivid Collection.

    Naraya’s Expansion

    Currently, Naraya maintains a strong presence in Thailand with a total of 19 operating stores, which include 18 primary branches and one boutique dedicated to silk products. After experiencing a significant surge in sales last year, the company is poised to continue its expansion plan. It aims to inaugurate five additional stores this year, strategically located across Bangkok and other significant provincial cities.

    Questions & Answers

    What distinguishes the new Naraya store in Chinatown from other branches?
    The Chinatown store offers extended operating hours from 9 am to midnight, specifically catering to evening shoppers and international tourists.

    What are some exclusive collections available at the Naraya flagship store?
    The flagship store features an exclusive Chinese New Year Collection, a Silk line, and the Vivid Collection.

    What are Naraya’s expansion plans for this year?
    Naraya plans to extend its reach by opening five more stores this year across Bangkok and significant provincial cities.