ICONSIAM Makes Global History! Ranked as One of the World’s Top 3 Most Influential Retail Property Projects of the Past 30 Years at the MAPIC Awards 2025

- Seven Years of Global Excellence: ICONSIAM has achieved 53 prestigious awards, reaffirming its position as a symbol of innovation and exceptional creativity, and solidifying its status as a Global Destination recognized worldwide.

- This achievement reflects the realization of the vision declared at the inception of the project’s development, which is to create a model of Thonburi urban development to value from all sectors, generate widespread benefits for riverside businesses along the Chao Phraya, and become No. 1 in the world and a source of national pride for Thailand.

- Chadatip Chutrakul, CEO of Siam Piwat Group, has been honored with the “PIONEERS OF PLACES AWARDS” from MAPIC, as one of only five global leaders and the only Asian business leader celebrated for inspiring and transforming the real estate industry over the past 30 years.

BANGKOK (10 November 2025) - ‘ICONSIAM’ has once again sparked a defining phenomenon on the global real estate and retail stage, being recognized as one of the world’s top 3 “Most Influential Retail Property Projects of the Past 30 Years” at the MAPIC Awards 2025, hailed as the “Oscars of the Retail Industry.” This prestigious recognition reinforces ICONSIAM’s status as the icon of innovation and creativity that inspires and attracts visitors from every corner of the globe. The honor is another testament to Siam Piwat’s success as the visionary developer behind global destinations that deliver extraordinary experiences and a game-changer that has unequivocally demonstrated that the capabilities and creativity of Thai people are second to none.

ICONSIAM: The birth of a new symbol of Thailand’s pride and magnificence on the Chao Phraya riverfront

ICONSIAM is a mega-city project, a new national destination on the Chao Phraya riverfront, and a symbol of pride for all Thais. It is a joint venture between three leading organizations: Siam Piwat Company Limited, Magnolia Quality Development Corporation (MQDC), and Charoen Pokphand Group, with a total investment of over 60 billion baht. Sitting on an area of more than 55 rai with a total gross floor area exceeding 750,000 square meters, ICONSIAM has been designed as a monumental city-of-the-future development that brings together the best of Thailand and the best of the world. The project comprises a world-class retail complex, two ultra-luxury residential towers, and the iconic “7 Wonders of ICONSIAM,” key elements that establish ICONSIAM as a World-Class Destination and a prototype of holistic urban development in Thailand. The project officially opened on 9 November 2018.

Developed with the aspiration to create a world-class destination that revolutionizes the real estate industry, ICONSIAM showcases Thainess across all of its elements, from the architecture to the artworks, fused with contemporary elegance to embody the spirit of a new era. The project tells the stories of Thai wisdom, traditions, and cultural heritage from all regions of the country, presenting them to the world with grace and pride. ICONSIAM seeks to stand as a new national symbol of Thailand, one that can proudly compete on equal footing with leading world-class developments across the globe.

MAPIC: The Global Stage for Retail Properties

MAPIC is the world’s premier event for the retail real estate industry, held annually in Cannes, France. The event brings together over 4,000 participants from more than 75 countries, including investors, developers, retail brand executives, and experts, to exchange visions, innovations, and emerging trends in the retail and real estate industries.

At the annual event, the MAPIC Awards are presented across various categories to honor projects and brands that excel in innovation, creativity, and positive industry impact and urban development. Widely regarded as among the most prestigious recognitions in the global retail and retail real estate sectors, these awards set new benchmarks that the industry around the world eagerly anticipates each year. This latest honor builds on ICONSIAM’s previous win for Best Shopping Centre in the world in 2019.

In celebration of the 30th anniversary of MAPIC, the event this year introduced special one-time honors. These include the “Most Influential Retail Property Projects of the Past 30 Years,” awarded to the projects that have had the greatest global impact over the past three decades, and the “PIONEERS OF PLACES AWARDS,” which celebrate visionary leaders, whose exceptional contributions have set new standards for excellence, inspired the global retail industry, and shaped urban development in ways that deliver meaningful benefits to people and society over the past 30 years.

ICONSIAM Ranked as One of the World’s Top 3 Most Influential Retail Property Projects of the Past 30 Years

ICONSIAM has made a historic milestone on the global stage as the only project from Thailand and the entire Asia region to advance to the final round alongside Puerto Venecia in Spain and Westfield London in the United Kingdom and to be honored as one of the Top 3 Most Influential Retail Property Projects of the Past 30 Years at the MAPIC Awards 2025, a prestigious recognition that affirms its significance as a transformative global destination.

The selection process for the special award “Most Influential Retail Property Project of the Past 30 Years” began at the first stage with the MAPIC Jury shortlisting 15 outstanding retail property developments from around the world over the past three decades. The Jury placed emphasis on projects that demonstrated strong visionary ambitions, redefined industry perspectives, and transformed the concept of retail destinations. Evaluation criteria included distinctive architectural design, innovative retail mix concepts, and the creation of new value through pioneering ideas and experiences. ICONSIAM was selected to compete alongside globally renowned developments, such as Dubai Mall (UAE), Battersea Power Station (UK), Marina Bay Sands (Singapore), Westfield London (UK), La Maquinista (Spain), American Dream (USA), Mall of the Emirates (UAE), Puerto Venecia (Spain), Bluewater (UK), Centro Colombo (Portugal), Forum Istanbul (Turkey), Il Centro (Italy), Beaugrenelle (France), and Manufaktura (Poland).

Following this, MAPIC opened a global public voting period from September to mid-October this year through its online MAPIC Community platform, allowing people worldwide to cast their votes for the project they believed most deserved this historic recognition. The result was a powerful show of support from the Thai public, who united in voting for ICONSIAM, the only project representing Thailand on the international stage. This strong collective support propelled ICONSIAM to the final round as the only entry from Asia, ranking among the Top 3 projects in the world.

Ms. Chadatip Chutrakul, Chief Executive Officer of Siam Piwat Group, stated with immense pride, “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. This historic success is a testament to the power of collaboration and shared conviction of the Thai people, who are inspired by His Majesty King Bhumibol Adulyadej the Great, Her Majesty Queen Sirikit the Queen Mother, and their lifelong works in presenting the beauty and magnificence of Thainess to the world. They inspired us to follow in their footsteps and showcase our heritage on the global stage with pride. Today, ICONSIAM has been recognized as the only project from Thailand and Asia to be ranked among the Top 3 Most Influential Retail Property Projects in the World. We have fulfilled our original aspiration to bring honor and global recognition to Thailand and show the world that Thai people are second to none on the international stage.”

“On this occasion, on behalf of the three joint venture partners — Siam Piwat Co., Ltd., Magnolia Quality Development Corporation, and Charoen Pokphand Group — as well as the management and employees of ICONSIAM, I would like to extend my sincere appreciation to the Makers, our great co-creators and partners from 15 countries across four continents who joined forces to bring this landmark to life, as well as the surrounding communities, business operators along the Chao Phraya River, our business partners, and all the Thai people who have helped us to achieve this global victory. We have brought the eyes of the world back on the Chao Phraya River, allowing people everywhere to witness the renewed vibrancy and prosperity of Thailand and experience something truly extraordinary and unparalleled.”

“Since its opening seven years ago, ICONSIAM has proven to be instrumental in transforming the Thonburi side of the river into a major commercial hub on par with downtown Bangkok while simultaneously enhancing the quality of life for surrounding communities. This project embodies our aspiration to create shared value, serve a magnet for tourism, and ultimately enable Thailand to stand proud for generations to come.”

This award underscores ICONSIAM’s success as a revolutionary retail development with global impacts. In addition to its innovative creativity and cutting-edge design, the recognition also reflects Thailand’s role on the global stage with regard to urban development and sustainable retail. The factors contributing to ICONSIAM’s triumph include the following:

- ICONSIAM’s position as a true industry revolutionary: ICONSIAM has pioneered a never-before-seen concept of seemingly integrating art, culture, technology, and community into its retail and entertainment space.

- The ICONSIAM Model: ICONSIAM serves as an urban development model that drives positive transformation across economic, social, and environmental dimensions. It incorporates the infrastructure development to enable seamless connectivity by river, road, and rail, with the aim of enhancing the quality of life for surrounding communities and stimulating economic growth for businesses along and around the Chao Phraya River.

- The ‘Greatest Collaboration’ philosophy: ICONSIAM is committed to multi-dimensional collaboration with all stakeholders, including government agencies, the private sector, communities, and SMEs, to create a development of exceptional quality, while ensuring that every partner involved in the project achieves shared business success and can navigate challenges and overcome crises with resilience and dignity.

- Shared value creation as a business model: ICONSIAM focuses not just on business returns, but also on delivering value to society, particularly by fostering sustainable growth for the surrounding communities and enabling SMEs from across Thailand to grow from local champions into global heroes and earn recognition and admiration worldwide.

Chadatip Chutrakul Honored with “PIONEERS OF PLACES” Lifetime Achievement Award

Ms. Chadatip Chutrakul, Chief Executive Officer of Siam Piwat Group, was honored on the international stage at the MAPIC Awards 2025 with a PIONEERS OF PLACES AWARDS, a lifetime achievement recognition. As the first Thai and Asian recipient of this esteemed honor, she joins a distinguished group of four other world-class retail business leaders: Mr. Maurice Bansay, President and Founder of APSYS, a developer of landmark projects in France and Poland; Mr. Philippe Journo, Founder and CEO of Compagnie de Phalsbourg, a French real estate leader committed to high architectural and environmental standards; Mr. Alexander Otto, CEO of ECE Group, a market leader managing over 200 retail properties across Europe; and Mr. Alain Taravella, President and Founder of ALTAREA, a major real estate developer in France, Italy, and Spain.

This accolade reflects Siam Piwat’s vision, dedication, and leadership as the developer of global destinations such as Siam Paragon “The Pride of Bangkok” and ICONSIAM, the landmark on the Chao Phraya River that that masterfully blends retail with art, culture, residences, and lifestyle, setting a new benchmark for modern mixed-use projects. This remarkable achievement not only solidifies Siam Piwat’s role as a pioneer instrumental in elevating Bangkok into a global retail hub but also showcases the capabilities of Thai people to achieve world-class excellence. In addition, the company has established new standards in design, architecture, innovation, and customer experience and played a pivotal role in advancing the tourism industry and transforming Thailand’s commercial real estate landscape under its “Game Changer” philosophy, which seeks to enhance Thailand’s image and earn the country international recognition.

One of Siam Piwat’s greatest sources of pride is its active role in bolstering Thailand’s reputation on the global stage and demonstrating that the capabilities and creativity of Thai people are second to none. This prestigious award is therefore not just a corporate achievement but a symbol of honor, pride, and inspiration for all Thai people, a triumphant moment for the nation on the world stage.

The Power of Urban Development and Shared Value: A Source of Pride for All Thais

Since its vision was first unveiled 13 years ago, ICONSIAM has demonstrated the power of transformative development, successfully turning the Thonburi riverside into a world-class destination. Amid economic shifts, social challenges, and uncertainties, the project has overcome numerous obstacles, from urban planning to public vision alignment prior to its grand opening in 2018, and demonstrated remarkable resilience during the COVID-19 pandemic.

ICONSIAM has shown to the world how the power of urban development contributes value to every sector. Over the past seven years, ICONSIAM has generated immense benefits for all sectors and served as a platform of opportunity for over 35,000 families of Thai entrepreneurs and 800-1,000 Thai designers, enabling them to build a sustainable source of income and truly establish their Thai brands internationally through modern trade.

ICONSIAM has played a vital role not only in driving the Chao Phraya River Master Plan, a national-level collaborative effort aimed at elevating the riverfront into a world-class tourism destination and achieving business growth and sustainable development for all parties involved, but also in boosting the quality of life and the economy in surrounding communities. Thanks to ICONSIAM, land prices along Charoen Nakhon Road and the riverfront have surged from 250,000 baht to 700,000 baht per square wah. In addition, riverfront businesses have seen over 60% growth, while local hotels have enjoyed a steady increase in both their room rates and occupancy rates. The project has also created over 400,000 jobs and attracted 115 million international visitors to Thailand.

Furthermore, ICONSIAM has catalyzed over 60 new real estate projects within a one-kilometer radius and spurred major infrastructure development for rail, road, and water transportation.

Global Brands to Open Their First Flagship Stores at ICONSIAM, with Total Investment Exceeding 1.5 Billion Baht

From the second half of 2025 through the first quarter of 2026, ICONSIAM has continued to earn strong confidence from leading global and Thai brands. More than 51 new brands, spanning luxury to top-tier Thai labels, have chosen to open their first stores in Thailand at ICONSIAM on the Thonburi riverside, rather than in central Bangkok. This reflects the project’s proven ability to transform the Thonburi area into a true global center of business and lifestyle. In addition, more than one hundred other brands are currently on the waiting list, representing a combined investment value of over 1.5 billion baht, including:

- New Flagship Stores: Hermès has launched a new flagship at ICONLUXE featuring a two-level duplex - the first of its kind in Thailand, with plans to expand with a new store concept. Similarly, Prada is set to unveil its first duplex store in Thailand, while Tiffany & Co. is expanding into a significantly larger space with a new design concept.

- Largest Stores in Thailand: Loro Piana has opened its largest store in the country at ICONSIAM. Meanwhile, Giorgio Armani has elevated the retail experience by introducing a comprehensive Made-to-Measure suite, offering bespoke tailoring across all product categories, alongside its largest format in Thailand. Moncler Flagship Store, Italian luxury fashion brand, is also set to open a new flagship store.

- New Concept Debut in Asia: Fendi has launched its newest global retail concept at ICONSIAM, the first in Asia.

- First Stores in Thailand: Brunello Cucinelli, Italy’s luxury fashion house, and Zimmermann, Australia’s iconic lifestyle brand, are both opening their first stores in Thailand at ICONSIAM. ON, the global performance and lifestyle footwear brand, has opened its first official and largest flagship store in Thailand, recording the highest first-day sales globally for the brand.

- Global Landmark Store and Largest in the World: POP MART has opened its Global Landmark Store at ICONSIAM — the largest POP MART store in the world outside of POPLAND.

- Largest Mega-Stores in Thailand: Gentle Monster and Tamburins are set to open their largest mega-store formats in Thailand, marking the first integrated brand presentation in Southeast Asia.

- World-First Concept: The North Face has introduced its world-premiere retail concept, the ONE BOX PRO Concept Store.

Other leading brands opening at ICONSIAM include Burberry, Omega, Club21 Multi-Label, Versace, Glintz Jewelry, Carolina Lemke, Orlebar Brown, and KAYOU (Art Toy). New dining destinations include Bianca, Tonkatsu Aoki, Läderach, Beans Coffee Roaster, Easy Buddy, Rolling Pinn, Chagee, and Rangoon Tea House, the first in Thailand.

A Globally Recognized Landmark that Has Redefined the World’s Retail Industry

Since its opening in 2018, ICONSIAM has elevated Thailand’s retail sector on the world stage, receiving more than 53 prestigious awards from leading institutions for its excellence as a global destination, its architectural innovation, its experiential marketing capabilities, and its contribution to national value creation. Beyond the Best Shopping Centre Award at the MAPIC Awards 2019, other global recognitions it has received over the years include the Outstanding Store Design of the Year at the World Retail Awards 2019, and four Gold Awards from International Council of Shopping Centers (ICSC) in 2019 for Design & Development Excellence, Marketing – Support to Business, Marketing – Grand Opening, Expansion & Renovation, and Public Relations and Events. ICONSIAM further earned the Best Retail Development title at the MIPIM Asia Awards 2019, the prestigious VIVA Best-of-the-Best Award for Best Design and Development from ICSC in 2020 and was named one of the four Best Shopping Centers in the World at the MIPIM Awards 2021. More recent honors include the Leading Brand in Iconic Shopping Mall of the Year at the ASEAN Outstanding Business Awards 2023, the ICONIC THAI BRAND AWARD from Tatler Best of Asia 2024, the Best Luxury Shopping Mall in Thailand from Luxury Lifestyle Awards 2024, and Asia’s Most Innovative Shopping Experience at the Cathay Members’ Choice Awards 2024.

“This prestigious award does not belong to Siam Piwat alone; it belongs to Thailand. It is an honor and a source of immense pride for all Thai people. We are committed to ensuring ICONSIAM remains a powerful magnet that draws visitors from around the globe back to Thailand again and again and makes them fall in love with Thailand for a lifetime,” Chadatip stated.