Siam Premium Outlets, known for its wide selection of brand-name products, is set to expand to the resort island of Phuket in 2026. This move by operator Siam Piwat Simon aims to tap into the vibrant tourist market in one of Thailand’s most popular destinations.
Siam Piwat Simon Co. is a joint venture between two global retail leaders. Simon, a real estate investment trust, specializes in top-tier shopping, dining, entertainment, and mixed-use venues, while Siam Piwat manages some of Thailand’s premier retail properties.
Following the success of the first Siam Premium Outlets near Suvarnabhumi Airport, this expansion seeks to offer high-quality shopping experiences to both locals and visitors in Phuket.
The venture predicts that the shopping outlet will stimulate the local economy.
“This project aims to create a vibrant hub for shopping and tourism, catering to both local and international visitors while contributing to the growth of the Thai economy and tourism sector,” said Siam Piwat Simon.
Shopping Magnet
The upcoming outlet is expected to invigorate the shopping scene in the region, appealing to both Thai residents and international tourists.
Capitalizing on their successful partnership, Siam Piwat and Simon recognized a strategic opportunity to broaden their reach by developing destination projects of global significance.
As Thailand’s second most frequented tourist spot after Bangkok, Phuket is a premier international travel destination.
Interest in the new location has been high among existing tenants from the Bangkok outlet and numerous potential tenants keen on this expansion, according to Siam Piwat Simon.
The new center in Phuket is being crafted with a unique concept tailored to local needs and projected growth trends for the coming decade, the company explained.
Positioned at the heart of Phuket, the outlet is poised to support the city’s expansive development.
Designed to accommodate the influx of over 15 million Thai and international tourists annually, including high-spending locals and expatriates, the outlet is well-placed to capitalize on this traffic, the company noted.
Tourist expenditure in Phuket averages 8,355 baht per person per day, indicating a strong market, observed Siam Piwat Simon.
The economic potential of Phuket is further highlighted by its extensive retail infrastructure, including 14 malls and 19 hypermarkets, complemented by 15 international schools.
Phuket also offers excellent transportation options, featuring expansive road networks and a public transit system, with an airport that handles up to 20 million passengers a year.
The planned Andaman Airport in Phangnga Province is set to further enhance the region’s capacity, paving the way for new investments and boosting its global tourism appeal.
Siam Piwat and Simon are committed to creating a vibrant new shopping landmark in Phuket, leveraging their extensive international retail expertise.
Well-Established Center
Siam Premium Outlets Bangkok, the first outlet center in Thailand, opened its doors in 2020.
Located on the Bangkok-Chon Buri Motorway, this center boasts over 300 brands and delivers an authentic, high-end outlet shopping experience.
Since its inception, the Bangkok outlet has emerged as a major retail destination, attracting a consistent flow of both Thai and international patrons.
In 2023, the site saw substantial growth, with a marked increase in revenue from the previous year, as reported by Siam Piwat Simon.
This growth coincided with an uptick in foot traffic, achieving an occupancy rate of 100%, the company highlighted.
