Central Group Opens New Retail Landmark in Hopes of Reimagining Retail

Dusit Central Park, a £1 billion mixed-used development, is set to re-define the majority CBD area of Silom. Developed under the “Here for Bangkok” concept, the 9.1-acre product was able to mix Thai heritage with modern design and sustainable urban planning, integrating a newly renovated Dusit Thani Bangkok Hotel, a 69-story luxury residential tower, a premium Class A office tower, and the large Central Park Shopping Center (approximately 130,000 sq. m. GBA). The prime CBD location of Dusit Central Park places it in the vicinity of Bangkok’s Lumpini Park. To take advantage of this, Dusit Central Park became Thailand’s first mixed-use development featuring a rooftop park that spans 2.8 acres. The high standards of Dusit Central Park also help it qualify for international sustainability standards like LEED. Any future success of the project can be accredited to the Developer, the Central Group, being a major retail player responsible for properties like Central Chidlom and Central World, as well as being recognized internationally for being the “Most Innovative Department Store” in Seoul 2025, surpassing that of Lotte Korea and UK’s well-known Selfridges.

The mixed-use nature of Dusit Central Park enables it to carry out multiple strategic objectives. The retail strategy aims to position the development as the “New High-End Lifestyle Hub” targeting both local residents and international tourists. The 130,000 sq. m. shopping area will feature over 500 global and Thai brands designed to appeal to a wide consumer base. The development also aims to become Asia’s Culinary Landmark with its Parkside Market, being Thailand’s largest collection of Michelin Guide eateries that rivals that of Mahanakhon Cube, Emquartier, and Siam Paragon. The location also supports the office strategy by offering an incomparable level of convenience and connectivity for office workers, thanks to its direct connection to both of Thailand’s train networks, the BTS and MRT, and its proximity to the Sathorn area, another key CBD landmark.

Perspective

The completion of this project, which strategically combines a luxury hotel, premium workspaces, and a major retail experience, positions Dusit Central Park not merely as a shopping destination, but as a new integrated urban center for Bangkok. However, despite the project’s unique aspects and the Central Group’s proven retail track record, its performance faces significant hurdles. These challenges stem from ongoing macroeconomic uncertainty, weak consumer sentiment, and low tourist arrivals that continue to exert market pressure. Economically, Thailand's GDP growth slowed to 1.2% in Q3 2025 (compared to 2.8% in Q2), partly attributed to tourism sector struggles, particularly the impact of geopolitical issues that have kept Chinese tourist arrivals below pre-pandemic levels. Domestically, anxiety is high, with Thailand’s Consumer Confidence Index (CCI) declining 3.8% quarter-on-quarter to 50.7, nearing a three-year low. This widespread concern is further reflected in the retail sector itself, where the Thai Retailers Association (TRA) Retail Sentiment Index hit a 42-month low in June 2025.

Adding to the demand-side constraints, competition within the premium retail market has intensified. Bangkok’s prime retail stock reached 3.9 million sq. m. in Q3 2025, representing a 1.1% quarter-on-quarter increase due to new supply, including Dusit Central Park. Concurrently, the Central Retail District (CRD) vacancy rate rose to 4.71%. With supply increasing and demand indicators softening, it remains highly sceptical whether Dusit Central Park can overcome this intensified competition. Moreover, its ability to challenge existing developments like ICONSIAM, which was recently recognized as a World's Top 3 Most Influential retail project, or the expanded EmDistrict with the new EmSphere addition, remains a primary concern amidst this period of low retailer sentiment. The level of success Dusit Central Park ultimately attains will depend on how effectively its unique urban ecosystem can drive foot traffic and spending against these formidable market factors.