Central Pattana has announced a 5-year plan to invest 120 billion baht, accelerating the growth of its four main mixed-use business sectors nationwide. The company is set to develop over 180 projects that will enhance the quality of life across more than 30 provinces, catering to all aspects of living including shopping, housing, work, and tourism, positioning itself as a Place & Experience Maker and a hands-on developer, aiming to be the strongest Thai business group focused on a Sustainable Ecosystem.

Ms. Walaya Jirathiwat, President and CEO of Central Pattana Public Company Limited stated that in 2022, the business began to recover well following the easing of the COVID-19 situation and the reopening of the country, leading to an increase in tourists coming to Thailand. The Central Group expects that the economy, tourism, and business sectors will fully recover within this year.

Looking ahead to the next 5 years, Central Pattana plans to grow in four business sectors simultaneously, with a distribution of 72% Retail Property and 28% Non-Retail. The total retail space will be 2.7 million square meters, with office space totaling 0.5 million square meters, 4,000 hotel rooms, and 68 residential projects, both horizontal and vertical, under at least 6 brands catering to all market segments.

The company aims to invest approximately 120 billion baht to develop over 180 projects, advancing its "Retail-Led Mixed-Use Development" strategy, reinforcing its strength in developing four core businesses: shopping centers, residential properties, office buildings, and hotels.

The key strategy is that every Central project will incorporate multiple components as a complete mixed-use development, with a Retail-Led strategy where shopping centers are the heart of the integration. All four businesses will grow together within Central Pattana's ecosystem, meaning our mixed-use developments are not just shopping centers; they encompass starting life at home, working at the office, and relaxing at hotels.

The "Residential Projects" business plans to expand with 68 projects, both horizontal and vertical, nationwide.

Col. Kree Detchai, President of Residential Business stated that the Residential business has been a cornerstone for Central Pattana for over 8 years and is preparing to become a Top Developer, with strategies to develop in conjunction with the locations of Central Pattana's shopping centers, both in the same area and nearby, as well as collaborating with various projects and business partners within the Central Group to provide comprehensive lifestyle convenience for residents.

Currently, Central Pattana Residential has 22 projects with a total value exceeding 30 billion baht, with 10 billion baht already transferred and 3.7 billion baht awaiting revenue recognition. There are over 10,000 Central residents, and in the 5-year plan, 46 more projects are set to launch on undeveloped land valued at 70 billion baht, which will account for 28% of total revenue.

The "Shopping Center" business reaffirms its leadership by developing 50 major projects and 16 community malls in high-potential CBD locations in Bangkok.

Mr. Chanawat Ueawatanasukul, Executive Vice President of Business Development and Projects stated that retail is the core that connects all components in synergy, providing new solutions that enhance the quality of life for people, communities, and the country. The strategies include 1) Develop District: pioneering and creating neighborhoods, bringing prosperity wherever we go; 2) Strong Synergy and Ecosystem: establishing an ecosystem among all components in the projects, offering convenience and privileges to users, including leveraging expertise and Big Data from The 1 to understand the national market; and 3) Community at heart: adhering to co-creation principles with localities, fostering local wealth and promoting the local essence.

Mr. Wuttikiet Techamongkalaphiwat, Head of Community Mall Business stated that the community mall business will undergo improvements and adjust strategies with the concept of Center of Life, enhancing lifestyles to be more accessible to customers and communities. This small retail business will strengthen the large projects we already have, allowing for broader expansion into high-potential locations and CBD areas. The new project set to open in Q4 2022 is the Marche Thonglor, which will cater to the best neighborhood in Thonglor.

For the expansion plan abroad, Central Pattana aims to become a Regional Retail Platform that drives various businesses to achieve success together. Currently, it has opened Thailand's first shopping center project, Central i-City, in Malaysia. Additionally, it continues to explore new opportunities in Southeast Asia, particularly in Malaysia and Vietnam. Investment in a shopping center in Vietnam is currently underway, with plans to finalize an MOU with the Vietnamese government, expected to take about 4 years before it can begin operations.

The "Hotel" business sets new standards with new formats to meet all tourism needs, developing a total of 37 projects with 4,000 rooms covering all market segments.

Mr. Phumi Jirathiwat, Head of Hotel Property stated that the hotel business is another area where Central Pattana excels. Currently, we have Centara Udon Thani and Hilton Pattaya, and we see the potential to enhance hotel standards across all provinces to elevate them as tourist destinations. We are confident in expanding the hotel business nationwide, leveraging prime locations in city centers connected to shopping centers. We will develop hotels to cater to customer groups in each area under three brands: Centara, an upscale brand with conference and banquet facilities; a Lifestyle Midscale brand that meets all customer needs for work and leisure; and a Premium budget brand located in prime areas that are convenient, clean, and safe. We will develop hotels that meet high standards of quality and service under the management of hotel chains in every province, with plans to open in Central Pattana shopping centers in various provinces and develop in collaboration with Central Group shopping centers.

The "Office Building" business is developing a total of 13 projects to become the most preferred workplace for both tenants and employees.

Ms. Naparat Sriwanwithee, Chief Financial Officer and Senior Executive Vice President, Finance, Accounting and Risk Management stated that our office buildings have consistently maintained an occupancy rate of over 90%. This year, the key focus is on revamping The Offices at centralwOrld and planning future project expansions, including Central Park Office within the Dusit Central Park project, which will transform into a world-class Professional Hub, and projects under GLAND in the high-potential Rama 9 CBD area, with a commitment to developing office buildings as LEED Green Buildings under our sustainability vision.

In response to future trends, in addition to the four core businesses under Retail-Led Mixed-Use Development, Central Pattana also has a segment for Alternative Assets to seek opportunities for expansion and investment in new businesses that will complement the ecosystem and connect with core businesses, such as a joint venture with Grab, a delivery platform, and Common Ground, a co-working space, and plans to explore investments in Venture Capital, with details to be revealed soon.