Siam Piwat Co. Ltd.'s consortium with Thai conglomerate Charoen Pokphand Group Co. Ltd. and developer Magnolia Quality Development Corp. is planning to open the largest commercial complex in Thailand on Nov. 9, the Nikkei Asian Review reported.

The US$1.6 billion Iconsiam commercial and entertainment hub in Bangkok will offer an estimated 520,000 square meters of space. It will also feature 70-story and 52-story condominium towers, according to the Oct. 4 report.

Japanese company Takashimaya Co. Ltd., the anchor tenant of the hub, will operate a department store in the development. It will be joined in the mixed-use complex by many other brands that are making their debut in the country, the publication added.