CentralWorld in downtown Bangkok, with 800,000 square meters of space, is the largest shopping mall in Southeast Asia. It is located at the Ratchaprasong intersection, between Rama I Road and Ratchadamri Road. CentralWorld was open in 2006, after three years of design and renovation. Before the renovation and expansion, there was a 300,000 square meter 8-storey mall on the site, called the World Trade Center, which was opened in 1990. The Central Group - which runs Thailand's Central Department Stores - acquired it from the Wang Petchaboon Group in 2002 and renamed it CentralWorld.
CentralWorld is located next to the upmarket Siam Paragon, a rival mall. Anticipating the opening of Siam Paragon, CentralWorld embarked on a massive make-over. The renovation project expanded retail space by more than double, from 300,000 square meters to 800,000 square meters. Even before the entire project was completed, CentralWorld held its "official opening" on 21 July, 2006. It positions itself for the middle class, as compared to the upmarket Siam Paragon.
Attached to CentralWorld is CentralWorld Tower, an office block. Originally planned to be 63 storeys, work on the office block stopped following the Asian financial crisis. When construction resumed in 2003, a new design made it a 51-storey structure, completed in 2005.
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