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Tag: Pavilion Group

  • Siam Piwat takes Thai retail concepts to Malaysia with Pavilion Group

    Siam Piwat takes Thai retail concepts to Malaysia with Pavilion Group

    Thai mall operator Siam Piwat has partnered with Malaysia’s Pavilion Group to take Thai retail concepts to the new Kuala Lumpur lifestyle mall Pavilion Bukit Jalil.

    The launch of Siam Piwat brick-and-mortar stores in Malaysia is part of its plan to further expand its global reach. The partnership will see the debut of three Thai brands – IconCraft, Ecotopia and Absolute Siam.

    “This collaboration will not only open up additional sales channels for SMEs to help them expand beyond online or e-commerce platforms but will also help drive the Thai economy,” said Usara Yongpiyakul, CEO of retail business group at Siam Piwat.

    “This new partnership to introduce Thai products to an overseas market will make Siam Piwat’s another significant stride towards building a solid network with powerful business leaders.”

    Dubbed ‘Discover Siam’, the store is situated on the third floor of the shopping centre, spanning 1200sqm. The Siam Piwat store is scheduled to open on December 3.

    Meanwhile, Ecotopia provides products for an eco-conscious community, and IconCraft offers Thai crafted items from more than 800 local creators, designers, and local communities. Absolute Siam is a multi-brand concept store, featuring a mix of more than 60 fashion and lifestyle brands under one roof.

    “Malaysia and Thailand have very close ties and share not only borders but also various cultural similarities,” Yongpiyakul added. “We believe that this collaboration is just the beginning and will lead to even greater things, such as joint efforts to boost the region’s economy and initiatives to showcase and nurture the uniqueness and magnificence of ASEAN nations.”

    Siam Piwat is the owner and operator behind Thailand’s major retail developments, such as Siam Paragon, Siam Center and Siam Discovery, and a joint venture partner in IconSiam and Siam Premium Outlets.

    “We recognise the value and delicate magnificence of Thai culture and the creativity of Thai artisans, designers, and creators,” said Dato’ Joyce Yap, CEO of retail for Kuala Lumpur Pavilion, the retail planner of Pavilion Bukit Jalil.

    “These new stores will provide Malaysians and international visitors the chance to experience a hint of Thai culture without leaving KL.”

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  • Canadian fund buying into Pavilion Dalian mall

    Canadian fund buying into Pavilion Dalian mall

    In a third investment deal in retail real estate in China within in two weeks, the Canadian Pension Plan Investment Board (CPPIB) has signed up to acquire a 40 per cent interest in the Pavilion Dalian shopping mall for $162 million.

    This takes the period’s spending to $684 million for Canada’s largest pension fund. Its latest acquisition is fully leased with the usual mix of local and international brands as well as international eateries.

    “Acquiring a stake in Pavilion Dalian is consistent with our real-estate strategy of investing in high-quality, well-located retail assets with leading partners” says CPPIB head of real-estate investments for Asia Jimmy Phua.

    CPPIB acquired its stake in the retail complex from Malaysia’s Pavilion Group, which opened the mall last year. The deal comes just 14 days after CPPIB put up $147 million for a 49 per cent stake inLongfor Properties’ West Paradise Walk. The six-level shopping mall in the western Chinese city of Chonqing had has a 99 per cent occupancy rate for the past two years.

    Also within the last fortnight, CPPIB invested more than $375 million for a 25 per cent stake in CapitaLand’s Raffles City China Investment Partners III fund. The $1.5 billion investment vehicle targets mixed-use developments in China’s gateway cities.

    A few years ago, CPPIB invested $202 million for a stake in Times Paradise Walk in Suzhou.