Thailand's Pena House Group is spending THB500 million (USD16.1m) to develop a Santorini Island-style retail theme park in Phetchaburi's Cha-am district as a new tourist attraction.

Managing director Nasvera Tantichirasakul said the new development will enhance its retail business, which contributed around 90 percent of total sales of THB4 billion last year, with the rest from garments and hotels.

Theme Plaza Development Co was set up with registered capital of THB50m to develop Santorini Park Cha-Am, the new retail project with the amusing shopping experience concept.