Thailand’s Siam Piwat Group has reached another milestone of global excellence as ICONSIAM made history once again, ranked among the Top 3 “Most Influential Retail Property Projects of the Past 30 Years” at the MAPIC Awards 2025 in Cannes, France, an event widely regarded as the “Oscars” of the retail industry. This prestigious recognition distinguishes ICONSIAM as the onlty project from Asia to earn this global honor, reaffirming its stature as a world-class experiential destination and a visionary model of urban innovation.
This milestone underscores Siam Piwat’s leadership as a game changer in global retail and real estate development, setting new benchmarks through innovation, creativity and sustainable impact, and fulfilling its founding vision to create a project that uplifts Thailand’s global stature and generates shared prosperity for all sectors including riverside communities along the Chao Phraya River.
Chadatip Chutrakul, CEO of Siam Piwat Group, stated, “From the very beginning, our vision has been to create ICONSIAM as a game changer in global retail development, a national landmark that would become a symbol of Thailand’s pride on the world stage. ICONSIAM was born from the collaboration and shared conviction of people across Thailand, and from many countries who love our nation. Together, we set out to create a new paradigm of excellence, a destination that perfectly blends the DNA of Thainess with architecture, creativity, innovation and arts, an embodiment of the world-class essence of retail and entertainment, all designed to make visitors from around the world fall in love with Thailand.
“From its conception, ICONSIAM carried a noble purpose to create shared value for everyone. It stands today as a prototype for sustainable growth, a new paradigm of collaboration within the retail industry, and a pioneer in integrated urban development, seamlessly connecting river, rail, and road to drive continuous progress and ensure that every community along the Chao Phraya River can grow and prosper with us.”
ICONSIAM also embraces diversity and equality. It serves as a platform that empowers thousands of Thai talent from every background—including artists, craftsmen and creators—helping them become successful entrepreneurs who proudly share Thai wisdom with the world.
ICONSIAM is a joint venture between Siam Piwat Group, Magnolia Quality Development Corporation (MQDC) and Charoen Pokphand Group, with a total investment of over 60 billion baht (US$1.85 billion). Spanning 750,000 square meters, it integrates a world-class retail complex, ultra-luxury residences, and the “7 Wonders of ICONSIAM,” bringing together the best of Thailand and the best of the world as a prototype for holistic urban development.
Since its grand opening in 2018, ICONSIAM has become a powerful symbol of Thailand’s pride, transforming Thonburi into a vibrant new commercial hub on par with central Bangkok. ICONSIAM has also transformed lives and communities. It has fueled Thailand’s economic growth and successfully placed Bangkok among the world’s most aspirational destinations. The project has created over 400,000 jobs, attracted 115 million visitors worldwide, and generated immense benefits for over 35,000 Thai entrepreneurs and 800 to 1,000 designers, empowering them to expand Thai brands internationally. Land values along Charoen Nakhon Road have surged threefold, while riverside businesses have grown by over 60%, demonstrating ICONSIAM’s catalytic role in tourism, infrastructure and economic revitalization.
Francesco Pupillo, Director of MAPIC, said, “Undoubtedly, ICONSIAM has emerged as one of the most extraordinary retail destinations in the world. It has set new benchmarks for modern mixed-use development, redefining the retail experience by blending design, innovation and culture and showcasing the spirit of Thailand and Bangkok on the world stage.”
Held annually in Cannes, MAPIC is a prestigious retail real estate forum, gathering over 4,000 participants from 75 countries, including developers, investors and global retail leaders. The MAPIC Awards recognize excellence in innovation, creativity and urban impact. ICONSIAM’s latest honor follows its 2019 win for “Best Shopping Centre in the World.”
At the same event, Chadatip received the “Pioneers of Places” Lifetime Achievement Award, one of only five global leaders, and the sole honoree from Asia, recognized for her visionary leadership in transforming the global retail landscape over three decades.
This remarkable achievement is not solely Siam Piwat’s success, it is a shared triumph for Thailand and for all Thais who have supported and believed in the company throughout its challenging journey.
“At Siam Piwat, we remain committed to ensuring that ICONSIAM continues to shine as a beacon of Thai excellence, showing the world how every nation can draw upon its authentic identity to create greater value far beyond imagination. Above all, we dedicate this global recognition, with our deepest gratitude, to Her Majesty Queen Sirikit, the Queen Mother of our nation, whose vision and lifelong devotion have inspired us to show the world that the grace and magnificence of Thainess are truly second to none,” Chadatip said.
