Developer Asset World Corp Plc (AWC) plans to build new riverfront projects near its flagship Asiatique open-air mall, starting with an investment of 800 million baht to refocus the riverside complex as an entertainment hub.
Wallapa Traisorat, AWC chief executive and president, said the new developments on plots next to and opposite Asiatique The Riverfront on Charoen Krung Road would comprise three phases.
Of the two riverside plots next to Asiatique, the second phase, which is the latest development, is a lifestyle market with an investment of 2 billion baht.
Another riverside plot slated for the second phase is a skyscraper being designed by Adrian Smith + Gordon Gill Architecture, which designed Dubai's Burj Khalifa.
"We are designing the lifestyle market and reviewing the skyscraper plan," Ms Wallapa said. "We also revised a development plan for the third phase, which will be located on a plot opposite Asiatique on Charoen Krung Road, to be a mixed-use project instead of only hotels."
AWC still has a 29-rai riverside plot on Charoen Nakhon Road, located on the opposite side of the Chao Phraya River from Asiatique.
The company's plan to build a cable car as a tourist attraction remains unchanged.
"AWC has no plans to develop retail space on the Charoen Nakhon bank, given the presence of Iconsiam," she said.
"However, the company plans to reveal more about the development over the next five years."
The investment of 800 million baht is to create new retail and entertainment attractions at Asiatique, with a goal of transforming it into a "retail-tainment" hub open all day, extending its current hours of 4pm to midnight.
"When combined with the second phase, the completed development will have a site stretching for 400 metres along the riverfront, making it the longest lifestyle destination along the river," Ms Wallapa said.
There will be three new components: a festival village, a large food and beverage destination, and a lifestyle market.
AWC aims to increase the number of visitors to 60,000-80,000 on weekends and 50,000 on weekdays, up from 50,000 and 30,000, respectively, at the moment.
The festival village features new attractions such as a treetop adventure, a zipline to the river, a haunted house, a calypso show, and the Disney 100 Village as part of Disney's 100th anniversary, which will be a pop-up event from March 24 and July 31 this year.
Asiatique, which is celebrating its 10th anniversary, will expand its food and beverage outlets and add a Big C store to its 2,000-square-metre space.
"The lifestyle market will offer a diverse range of products, including vintage fashion, pet supplies, housing decorations, arts and crafts, and souvenirs as we target both Thais and foreigners," Ms Wallapa said.
