Key Siam Square site open for retail

Trendy teenagers will soon have a new hangout in downtown Bangkok – Siam Square One.

Siam Square One is under construction on the site of the historic Lido Theatre on Rama I Road opposite Siam Centre, a building razed by fire by Red Shirt protestors two years ago. The 74,100sqm new shopping destination will be spread across seven storeys with two underground floors.

Around 32,600sqm will be leased by 788 shops and 60 per cent of the retail spaces will be reserved for the old Siam Theatre mall’s former tenants.

Siam Square One, expected to be completed in late 2013, will cost Chulalongkorn University 1.8 billion baht (US$58.77 million).

“The university has the potential to invest itself but has to consider our capability and risk. If the risk is high, then we’ll form a joint venture with private operators,” said Permyot Kosolbhand, university’s VP who supervises its Property Management Office.

Aside from retail shops that it will accommodate, Siam Square One will also house an 850-seat Playhouse theatre.

Chulalongkorn University, which owns the land where Siam Square was developed, also plans a gradual refurbishment for all Siam Square, subject to finding a way to undertake the work without inconveniencing tenants. 

GB

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