Siam Piwat, a real estate management company which owns and operate Siam Paragon, Siam Discovery and Siam Center will spend one billion baht renovating its three shopping malls next year.

Thailand’s serious flooding has seen mall patronage drop off but Siam Piwat expects the facelift will help enhance the centres’ appeal when the flooding eases and tourists and locals alike return to shopping centres. 

“Based on discussions with hotel operators nearby, the sentiment of foreign tourists is improving and many countries have already dropped warnings,” said Chadathip Chutrakul, president of Siam Piwat Co.

“We will review promotional campaigns to attract both locals and foreign shoppers over the coming festive season,” he said.

Siam also plans to lease space for one more of the Japanese homewares stores Loft next year, due to Thai people’s adoption of the eclectic concept.

“Sales at our three Loft stores in Bangkok over the first 10 months of the year grew by 40 per cent year-on-year, higher than earlier projected,” Chanchai Cherdchoowongthanakorn, MD of BIHC Trading Co, operator of Loft, told the bangkok Post newspaper.

GB