Central Pattana Public Company Limited has announced a budget of 121 billion baht over the next 5 years (2024-2028) to advance its development plans for creating key urban areas and secondary cities. Currently, the company has a mixed-use portfolio of 20 projects, which will increase to 25 projects by 2025, driving economic growth and tourism nationwide. Recently, they are preparing to open ‘Central Nakhon Pathom’ valued at 8.2 billion baht on March 30, 2024, marking a new chapter of happiness and serving as a gateway to the western region. Additionally, in 2025, they plan to open ‘Central Krabi’ valued at 4.5 billion baht to enhance the retail lifestyle in this world-renowned tourist city.

The company is set to transform retail significantly with the project titled The World’s New Magnitude, focusing on Super Prime Locations across Bangkok, with an investment of 23 billion baht over the next 5 years. This year, they will revamp 6 projects including Central Pinklao, Bangna, Chaengwattana, Rattanathibet, Pattaya, and Marina to cater to high purchasing power customers.

Ms. Walaya Chirathivat, CEO and Managing Director of Central Pattana Public Company Limited stated that in 2023, the company achieved a record high revenue of 46.79 billion baht, a 26% increase from the previous year, along with better-than-expected traffic at shopping centers and sales figures. This allowed for the highest dividend payout, and investments in CPNREIT property leases generated a 16% revenue increase with a yield of 10%.

In the 5-year plan from 2024 to 2028, a total investment of 121 billion baht is planned, with 13 new projects set to launch in 2024. These include Central Nakhon Sawan and Central Nakhon Pathom shopping centers, 10 residential projects, and a new hotel in Rayong in collaboration with a global international chain. By 2024, the company will have 42 shopping centers, 17 community malls, 43 residential projects, 10 hotels, and 10 office projects, with 25 mixed-use projects expected by 2025.

Mr. Chanawat Ueawattanaskul, Chief Development and Commercial Officer of Central Pattana Public Company Limited mentioned that there will be an investment of 23 billion baht for asset enhancement, comparable to investments for new shopping centers. This year, 6 shopping centers will undergo a turnaround, strategically located around Bangkok and its vicinity. These include ‘Central Pinklao’ to enhance the lifestyle zone in Pinklao for higher purchasing power, ‘Central Bangna’ for district transformation targeting top-tier customers in Bangna, ‘Central Chaengwattana’ to create a new concept mall addressing Eco Art Lifestyle, and ‘Central Rattanathibet’ to build a new lifestyle landmark for major tourist areas. Additionally, ‘Central Pattaya’ will be revamped to accommodate the influx of tourists, and ‘Central Marina’ will be transformed into an outlet format to capitalize on shopping behaviors of another tourist segment.

This year, two new projects will open, including ‘Central Nakhon Sawan’, which has generated significant buzz, elevating the city to a Gateway to the North. On March 30, 2024, they will open ‘Central Nakhon Pathom’, marking a new chapter of happiness connecting the western region with Kanchanaburi and Ratchaburi, featuring a large garden area for families and beautiful designs reflecting the city’s identity with Phra Pathom Chedi. In 2025, they will open ‘Central Krabi’ valued at 4.5 billion baht to enhance the retail lifestyle in Krabi, a world-renowned tourist destination, recognizing the clear purchasing power of local entrepreneurs and tourists.

They are preparing to create a phenomenon with the project “The World’s New Magnitude” as Bangkok still has opportunities to expand trade and business areas in various parts of the city, similar to major cities worldwide. They will develop 5 mixed-use projects covering over 2.2 million square meters, located in Super Prime Locations around Bangkok, with the first project being Dusit Central Park, a world-class mixed-use project that redefines living close to green spaces in the city center. In September this year, the new Dusit Thani hotel will be unveiled, along with the opening of the office building and Central Park shopping center next year in 2025.

Central Pattana Public Company Limited is moving towards the future under the brand's vision of Imagining better futures for all by creating and developing spaces to enhance the quality of life for people and communities, as well as the environment, to grow alongside economic progress and drive Thailand forward. Currently, the company employs over 120,000 people nationwide, and every new project expansion will create thousands of additional jobs, with more than 80% being local residents. Their sustainability plans continue to progress towards the NET Zero 2050 goal in collaboration with all parties in The Ecosystem for All.