Tuesday, April 16, 2024

Central Pattana, Thailand’s No. 1 developer, aims to increase retail space in Bangkok by 2.2 million square meters, unveiling a 121 billion-Baht investment over the next five years

  • The company reaffirms its successful model, ‘The Ecosystem for All’ and its position as the number one developer with the most expansion of mixed-use projects in Thailand, aiming to expand its unique retail-led mixed-use projects from 20 to 25 by 2025.
  • Revolutionizing retail on a global scale with 5 upcoming projects covering over 2.2 million square meters, starting with ‘Dusit Central Park’ and including the unveiling of Dusit Thani Hotel in September this year, followed by Central Park Retail and office building in mid-2025.
  • Ranked with the highest scores in DJSI World 2023 for global top sustainability and moving towards Net Zero 2050 goals

BANGKOK, March 25, 2024 /PRNewswire/ — Central Pattana plc, Thailand’s number one sustainable real estate developer, is highlighting the success of ‘The Ecosystem for All’ business model, which connects the entire ecosystem: Retail, Residences, Hotels and Offices together, in its annual press conference: ‘Infinite Opportunities’. Central Pattana, Thailand’s leading real estate developer and a key driving force of the Thai economy, has announced a 121 Billion Baht 5-year Investment for 2024-2028 to continue its project development plan, asset enhancement, and mixed-use extension nationwide, fostering infinite growth for everyone in the ecosystem. In addition, the company plans to revolutionize the retail landscape on an unprecedented scale with The World’s New Magnitude projects, marking super prime locations in Bangkok aligned with the global metropolis model. Central Pattana will move to the next level in supporting partners to expand their businesses by focusing on the strengths in retail ecosystem combined with marketing intelligence and data-driven solutions to help support both partner stores and customers in all aspects.

Central Pattana, Thailand's No. 1 developer, aims to increase retail space in Bangkok by 2.2 million square meters, unveiling a 121 billion-Baht investment over the next five years
Central Pattana, Thailand’s No. 1 developer, aims to increase retail space in Bangkok by 2.2 million square meters, unveiling a 121 billion-Baht investment over the next five years

Ms. Wallaya Chirathivat, President and CEO of Central Pattana plc, stated, “Over the years, we have achieved success with The Ecosystem for All, a retail-led model where synergy is the key to supporting every part to grow together. This year, we will continue with our commitment to build even more strengths for the entire ecosystem, while continuously driving the country’s economy forward. Over the past 7 years (2017-2023), we have invested an average of 15,000-22,000 million baht annually. Last year, we achieved success in terms of annual performance with revenue of 46,790 million baht, a 26% increase from the previous year. This includes setting new highs in terms of shopping center traffic, store sales, and dividends. Additionally, investments in CPNREIT property leasing rights have increased revenue by 16% and provided unit holders with a 10% yield.”

Furthermore, Central Pattana continues to adhere to its long-term investment plan. Over the next 5 years, from 2024 to 2028, a total investment of 121,000 million baht is scheduled. In 2024 alone, there are 13 new projects set to be launched, including Central shopping centers in Nakhon Sawan and Nakhon Pathom, 10 residential projects, and a new hotel in Rayong in collaboration with an International Chain, bringing the total number of shopping centers to 42, community malls to 17, residential projects to 43, hotels to 10, and office spaces to 10 in 2024.

Currently, we have 20 mixed-use projects. Last year, we expanded to include Ubon Ratchathani, Ayutthaya, Chonburi, Si Racha, and Hat Yai. In the future, we plan to expand both in Bangkok and various provinces such as Nakhon Sawan, Nakhon Pathom, Nakhon Si Thammarat, and Surat Thani, with plans to open in Krabi next year. Our vision to create The Ecosystem for All, with Retail-Led Synergy, helps support all businesses to connect and grow stronger. Every component in our mixed-use projects strives to be the best in its respective sector, whether it’s shopping centers, hotels, residences, offices, or others. “Intentionally developing large-scale projects helps create a significant impact and boost income levels. It elevates the quality of life and distributes income within the provinces, while also showcasing local essence and fostering economic and tourism potential,” Ms. Wallaya added.

Mr. Chanawat Uahwatanasakul, Chief Development and Commercial Officer at Central Pattana plc, said: “In the role of Place Making with Central Pattana Dynamism DNA, we never stand still and strive to create ‘new spaces’ with a dedicated focus on developing excellent projects and creating impacts for the nation. These initiatives include:

  • Initiating the Centre of Life and establishing New Districts, exemplified by our latest project, “Central WestVille,” which serves as a new landmark in western Bangkok. Recognizing the evolving dynamics and lifestyle changes of the community, we are committed to developing shopping centers that introduce innovative offerings and cater to the increasing purchasing power of customers. We allocate total investment of 23,000 million baht in 5 years for Asset Enhancement, equivalent to the investment in opening new shopping centers. This year, we are undertaking a turnaround of shopping centers strategically located around the Bangkok Metropolitan Area: Central Pinklao, Central Bangna, Central Chaengwattana, Central Rattanathibet. Additionally, we are preparing to revamp “Central Pattaya” to accommodate the influx of tourists and transforming “Central Marina” into an Outlet Format, seizing the opportunity presented by the shopping behavior of another group of tourists.
  • Mixed-use project expansion – Aiming to drive the potential of both main and secondary cities while also creating local wealth and presenting local essence to the World. This year, we are opening two new projects: “Central Nakhon Sawan,” which has become the talk of the town, elevating the city to be the Gateway to the North. On March 30, 2024, we are preparing to open “Central Nakhon Pathom,” connecting with the western region such as Kanchanaburi and Ratchaburi provinces, featuring a large garden area for families, beautiful designs reflecting the city’s identity, including the Phra Pathom Chedi. In 2025, we are gearing up to open “Central Krabi,” a project worth 4.5 billion baht, enriching the retail lifestyle of Krabi, a world-renowned tourist destination that accommodates the purchasing power of local entrepreneurs and tourists.
  • To create “The World’s New Magnitude” – We believe that Bangkok still has opportunities to expand its commercial and business districts in many areas of the city, resembling the models of major cities worldwide. We will develop five mixed-use projects with a combined area of over 2.2 million square meters. These projects will be located in Super Prime Locations around Bangkok, situated on major roads and connected to the skytrain. Each project will be a flagship that meets the needs of future living and will be a landmark attracting tourists from around the world. Get ready to explore our inaugural project, ‘Dusit Central Park,’ a Retail Re: Imagined venture that caters to green urban living in the heart of the city. This September, the new Dusit Thani Hotel will be revealed, along with the opening of the office building and the Central Park shopping center next year, 2025.

Central Pattana has also unveiled keys to success to create sustainable growth.

  1. Enhancing the ‘Center of Life’: We prioritize understanding customer insights to cater to both domestic and tourist markets, with over 10 tourist malls offering a diverse range of offerings. Our trendspotting expertise attracts global brands, with Central Pattana Development serving as the preferred destination for over 76 brands to open their first stores, exemplified by CentralWorld’s success in hosting renowned brands like Shake Shack and The Cheesecake Factory. Additionally, strategic partnerships with brands like Pop Mart have led to record-breaking success.
  2. Ignite Newness: We continually introduce novelty to our projects, exemplified by Central Nakhon Sawan’s transformation into a potential tourist hub. Collaborations with local communities and partners enhance unique experiences, such as integrating a hospital into our mixed-use developments. Digitalized services and a seamless experience app ensure convenient access to services, benefiting both customers and partners alike.
  3. Holistic partnership & Data-Driven Solutions: Our ecosystem-driven approach fosters holistic partnerships, facilitated by The 1 BIZ – Marketing Intelligence Solutions. This powerful CRM tool leverages extensive consumer data to empower brands of all sizes, enabling them to seize growth opportunities, enhance customer loyalty, and drive business expansion.

Central Pattana Public Company Limited (CPN), is striving towards the future under the brand purpose of “Imagining better futures for All.” This is achieved by creating and developing spaces to elevate the quality of life for people and communities, alongside environmental growth that aligns with economic progress and drives Thailand forward. Currently, the company employs over 120,000 people nationwide, and with each new project expansion, thousands more are hired, with over 80% being locals of that respective area. Sustainable commitment continues to progress towards the NET Zero 2050 goal, in collaboration with all parties within The Ecosystem for All.

For more information, please visit: the Facebook fan page: Central Pattana
#CentralPattana #Imaginingbetterfuturesforall #centralwOrld

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