The company has operated an outlet in Malaysia’s Johor since 2011, and opened a new property in Genting Highlands, near Kuala Lumpur, last year. Its first premium outlets in Thailand will open in Bangkok by the end of next year in collaboration with the local property developer Siam Piwat.

Simon Property wants to expand its presence in Southeast Asia

Simon Property’s Director for International Development and Finance Uchenna Akujuo said the company’s success in the development of premium outlets, of which 29 out of 100 are outside the U.S, has stemmed from its strong relationship with top global brands, and revealed that Asia and Southeast Asia remain a strategic focus.

“We are bringing to Thailand and Bangkok high-quality brands and a shopping experience. We understand the needs of customers and tenants. We are able to leverage different customers all over the world whether in Asia, North America or Europe,” Siam Piwat said.

The company’s joint venture with Siam Piwat will see it developing three locations in Thailand within the next five years. Siam Piwat's first Executive Vice President for Business Development and Investment Chollachat Meksupha said the company will invest around THB 4 billion (US $123 million) into the first outlets.