Siam Park Bangkok Co, the operator of Siam Amazing Park amusement and theme park, plans to open its new retail and entertainment project in 2022, a few months behind its original schedule because of the pandemic and economic uncertainty.
Noppagarn Luangamornlert, the deputy managing director, said the company has postponed the opening of Bangkok World, its retail and entertainment project with an investment cost of 1 billion baht.
The park is situated on a 70-rai plot of land near Siam Amazing Park amusement and water park.
Bangkok World is scheduled to open in the first quarter of 2022 because the company expects the pandemic and its economic impact will have improved by then.
Siam Park started development in March 2019, aiming to recreate Bangkok’s famous old towns and trading districts such as Chinatown, Sampheng and Khlong Thom.
The project will comprise 13 buildings, each one simulating an old town or trading district. Each building will provide various services such as organic market, world food hall, textile market and dinner theatre. Construction of Bangkok World is 50% complete.
The company expects to be able to open some zones including children’s cooking experience zone aimed at young visitors in the first quarter of next year.
“People are cautious about spending in this environment and they have various alternatives to entertain themselves,” she said.
Bangkok World is the brainchild of Chaiwat Luangamornlert, 82, who founded Siam Park City four decades ago.
Mrs Noppagarn said Siam Amazing Park’s business has been hurt by the pandemic, with the outbreak happening during peak sales season for amusement and theme parks.
“Despite the country’s economic slowdown over the past two years, we were still able to effectively manage our operating costs over the period,” she said. “But this year, we are afraid of seeing a loss because the number of visitors is yet to return to normal.”
In the first 10 months of this year, visitors to Siam Amazing Park were 35-40% lower year-on-year.
The company expects its sales to drop by 50% to 250 million baht this year. Of the total, about 15% of sales will come from foreign tourists, 10% from banquets, 10% from students and the remainder from local visitors.