ICONSIAM Achieves Historic Global Recognition at MAPIC Awards 2025

 

A testament to Siam Piwat’s success ,the creator of Global Destinations and a game changer setting new global standards.

 

Siam Piwat's ICONSIAM has secured a landmark achievement on the global retail stage, being recognised as one of the world's top three "Most Influential Retail Property Projects of the Past 30 Years" at the MAPIC Awards 2025, known as the "Oscars of the Retail Industry". 

 

The honour positions the Chao Phraya riverside development as the sole representative from Thailand and Asia amongst an elite group of transformative destinations.

 

The recognition, announced at the prestigious annual event in Cannes, France, celebrates projects that have fundamentally reshaped the global retail landscape over three decades. 

 

ICONSIAM has been honored as one of the Top 3 Most Influential Retail Property Projects of the Past 30 Years at the MAPIC Awards 2025 alongside Puerto Venecia in Spain and Westfield London in the United Kingdom, after receiving overwhelming public support during a worldwide voting period.

 

 

 

Siam Piwat's Visionary Leadership Honoured

In a parallel distinction, Chadatip Chutrakul, Chief Executive Officer of Siam Piwat Group, received the "PIONEERS OF PLACES AWARDS" – a lifetime achievement honour recognising five global leaders who have transformed the real estate industry over 30 years. 

 

Chadatip is the first Thai and Asian executive to receive this distinction, joining an exclusive cohort of European retail visionaries.

 

 

"ICONSIAM was conceived as a national landmark and a global destination, born from a profound commitment to showcase Thailand's capabilities and magnificence to the world," Chadatip stated. "This historic success is a testament to the power of collaboration and the shared conviction of the Thai people. Today, we have fulfilled our original aspiration to bring honour and global recognition to Thailand."

 

 

 

A Development Redefining Industry Standards

Launched in November 2018, ICONSIAM represents a 60 billion baht joint venture between Siam Piwat Company Limited, Magnolia Quality Development Corporation (MQDC), and Charoen Pokphand Group. 

 

Spanning more than 750,000 square metres on the Thonburi riverside, the mixed-use development integrates world-class retail, ultra-luxury residences, and cultural experiences.

 

The project competed against 14 other globally renowned developments in the initial selection phase, including Dubai Mall, Marina Bay Sands, and American Dream.

 

MAPIC's jury emphasised distinctive architectural design, innovative retail concepts, and pioneering customer experiences as key evaluation criteria.

 

Since opening seven years ago, ICONSIAM has accumulated 53 prestigious international and local awards, including Best Shopping Centre at the MAPIC Awards 2019, Outstanding Store Design of the Year at the World Retail Awards 2019, and recognition as one of four Best Shopping Centres in the World at the MIPIM Awards 2021.

 

 

 

Driving Economic Transformation

Siam Piwat's strategic vision for ICONSIAM extends beyond retail excellence to comprehensive urban regeneration. 

 

The development has catalysed significant economic transformation along the Chao Phraya River, with land prices on Charoen Nakhon Road surging from 250,000 baht to 700,000 baht per square wah. 

 

Riverfront businesses have experienced over 60% growth, whilst local hotels have recorded sustained increases in both room rates and occupancy.

 

The project has generated opportunities for over 35,000 families of Thai entrepreneurs and supported 800–1,000 Thai designers in establishing international brand presence. 

 

ICONSIAM has created more than 400,000 jobs and attracted 115 million international visitors to Thailand, whilst spurring over 60 new real estate developments within a one-kilometre radius.

 

 

 

Global Brand Confidence

From the second half of 2025 through the first quarter of 2026, Siam Piwat has secured commitments from more than 51 new brands to launch their first Thai stores at ICONSIAM, representing combined investments exceeding 1.5 billion baht. 

 

Notably, luxury houses are choosing the Thonburi location over central Bangkok, affirming the development's status as a premier business destination.

 

Hermès has unveiled a two-level duplex flagship – the first of its kind in Thailand, with plans to expand with a new store concept – whilst Prada is introducing its first duplex concept in the country.

 

Fendi has launched its newest global retail concept at ICONSIAM, marking the first such store in Asia. Brunello Cucinelli and Zimmermann are both opening their inaugural Thai locations at the development.

 

POP MART has established its Global Landmark Store at ICONSIAM – the largest POP MART LANDMARK Store worldwide outside of POPLAND.

 

The North Face introduced its world-premiere ONE BOX PRO Concept Store at the venue, whilst ON, the performance footwear brand, recorded its highest first-day sales globally at its ICONSIAM flagship, the first and largest in Thailand.

 

 

Sustainable Development Model

Siam Piwat's approach to ICONSIAM embodies a shared value creation philosophy, integrating economic returns with social impact. 

 

The development incorporates multi-modal transportation infrastructure connecting river, road, and rail networks, enhancing accessibility for surrounding communities.

 

"This prestigious award does not belong to Siam Piwat alone; it belongs to Thailand," Chadatip emphasised. "We are committed to ensuring ICONSIAM remains a powerful magnet that draws visitors from around the globe back to Thailand again and again."

 

The MAPIC Awards recognition validates Siam Piwat's game-changing strategy in transforming Bangkok into a global retail hub whilst advancing Thailand's tourism industry and commercial real estate landscape.

 

As the development continues to evolve, it stands as testament to Thai innovation, creativity, and world-class execution capabilities.

 

 

 

 

About Siam Piwat

Siam Piwat is Thailand's leading developer of world-class destinations, including Siam Paragon and ICONSIAM. The company pioneers innovative retail concepts that integrate art, culture, and lifestyle, setting new benchmarks for mixed-use developments whilst creating shared value for communities and stakeholders.

 

About MAPIC

MAPIC is the world's premier event for the retail real estate industry, held annually in Cannes, France. The event convenes over 4,000 participants from more than 75 countries, including investors, developers, brand executives, and industry experts. The MAPIC Awards are regarded as amongst the most prestigious recognitions in global retail and real estate sectors.