* Investing 800 million baht to launch 20 branches nationwide within 5 years, with the first opening early next year, in partnership with the fastest-growing co-working space in Southeast Asia.

* Aiming to be the first 'community connecting the best innovative entrepreneurs' in Thailand.

* A crucial piece in driving Thai SMEs to grow exponentially, expanding businesses and marketplaces with CPN, Central Group, and tenants.


          Bangkok – Today (November 13, 2018), Central Pattana Public Company Limited (CPN) announced the expansion of its new business line under the brand 'Common Ground', a full-service co-working space aimed at creating a community for new entrepreneurs and startups, furthering the vision of establishing a Center of Life as a hub for modern living. This initiative is in collaboration with Common Ground Group, the fastest-growing co-working space brand in Southeast Asia, with a goal to invest 800 million baht to open 20 branches over the next 5 years, starting with the first branch early next year. The aim is to become the first 'community connecting the best innovative entrepreneurs' in Thailand, leveraging the strengths of being the country's number one shopping center that can support business expansion through CPN's network and marketplace, while also responding to the modern working lifestyle through Holistic Lifestyle Integration, promoting Thailand as an SME and startup hub in Southeast Asia and driving sustainable economic growth.

          Dr. Natakitti Tangpoolsinthana, Assistant Managing Director of Marketing at Central Pattana Public Company Limited, stated, "From our vision of creating a Center of Life as a hub for modern living, we are expanding our new business line under the brand 'Common Ground', a full-service co-working space, which represents the New Generation of Innovative Coworking Community. This will be the first 'community connecting the best innovative entrepreneurs' in Thailand, in partnership with Common Ground Group, the fastest-growing co-working space brand in Southeast Asia. We aim to invest 800 million baht to open 20 branches over the next 5 years, with the first branch opening early next year, to respond to the rapidly growing trend of co-working spaces and the sharing economy worldwide, which is expected to continue to rise over the next decade, positioning Thailand as a new hub for co-working businesses in Southeast Asia."

          Mr. Isares Jirathiwat, Senior Director of Sales at Central Pattana Public Company Limited, discussed the trend of co-working spaces in Thailand, noting that currently, international co-working space companies are investing in Thailand due to two main factors: First, the mega-trend of changing work lifestyles among the new generation influenced by technology and flexibility, leading to a demand for collaborative workspaces. Additionally, the need to reduce business costs is causing a significant shift in how entrepreneurs and large companies operate globally. It is anticipated that the co-working space market in Asia will increase to 30% by 2030, up from the current 2%. Second, the growth rate of SMEs in Thailand is projected to be high at 8-10% per year, surpassing neighboring countries, with more than 1 in 6 businesses located in Bangkok, totaling over 500,000. These SMEs are seeking prime locations for their offices, but accessing Grade A rental offices in Bangkok is challenging and expensive. This has led to the emergence of 'Common Ground' as an alternative for accessing new workspaces or co-working spaces that offer Grade A standard services while being situated in prime locations rich in business networks.

          Mr. Erman Akinci, one of the co-founders of Common Ground and Chief Financial Officer, expressed, "We are very pleased to collaborate with partners who have a deep understanding of entrepreneurs in Thailand. We believe that this partnership with Central Pattana, a leader in the development of shopping centers in the country and part of the Central Group, will enhance business value and create business innovations for Thai entrepreneurs to grow exponentially, enabling them to expand their businesses through networks and marketplaces, while responding to the lifestyles of modern workers through Holistic Lifestyle Integration. With the strength and diversity of the Central Group's businesses, including department stores, hotels, fashion brands, lifestyle, and restaurants, we will offer a comprehensive and outstanding lifestyle experience in Thailand."

          "The launch of Common Ground in Thailand marks our third international launch in the region, with the first flagship in Southeast Asia covering an area of 4,500 square meters, located in Bangkok's CBD. This new co-working space will allow entrepreneurs and large companies to reduce costs as they will not need to invest in permanent office spaces, situated in prime locations for easy access and flexibility in changing locations. Additionally, it differentiates itself from other co-working spaces by offering a complete and enriching lifestyle (Enrich Lifestyle) with proximity to shopping centers and numerous benefits from business partners and various brands, including fashion, lifestyle, restaurants, banks, fitness centers, parking, along with various events and lifestyle workshops, while also expanding business growth (Expand Business through our deep partnerships) by allowing real market testing and sales within CPN shopping centers and other Central Group businesses. Moreover, entrepreneurs can utilize services at all branches worldwide and enhance their business connections in a more open and diverse manner," Mr. Erman Akinci stated.

          Mr. Jun Tieu, CEO of Common Ground and another co-founder, discussed the investment plans of Common Ground Group in the region, stating that over the next 5 years, we aim to triple our growth across Southeast Asia. For Thailand, we plan to have over 20 branches nationwide, with more than 10 branches located in prime locations in Bangkok, connected to CPN shopping centers or other rental office buildings, as well as branches in key cities like Chiang Mai, Phuket, and Pattaya, allowing entrepreneurs to access our services both domestically and internationally.

          Mr. Tieu further added, "Common Ground represents a new model of co-working space in Thailand, targeting the new generation of workers, including 80% SMEs, startups, and freelancers, and 20% large companies seeking co-working space. Our expansion into Thailand aims to create new lifestyles for Thai people, responding to the 6 co-working space trends expected to emerge globally in 2019, making Common Ground a fully-fledged co-working space that meets all 6 global trends to create a community for new entrepreneurs and startups for the first time in Thailand."

Mr. Tieu elaborated on the 6 co-working space trends expected to emerge globally in 2019, including:

At the level of co-working space investors:

* The trend of investing in co-working spaces will increase to provide comprehensive solutions for mixed-use projects by real estate companies.

* The trend of local-global integration, blending local cultural identities with international management expertise from global brands.

At the level of new-age entrepreneurs:

  • The work-life balance trend among the new generation.
  • The trend of preferring flexible workspaces that spark business opportunities (Flexible & Hyper Competitive Space).
  • The trend of needing to connect networks through technology and blockchain systems in workspaces.
  • The trend of large corporations seeking new workspace models to stimulate creativity within organizations while reducing various costs.

    Thank you for the information from www.cpn.co.th