"CPN Retail Growth Property Fund" or "CPNREIT" is the largest market-cap retail trust in Thailand, announcing its strategy to become a regional leader. The medium-term goal over the next 4 years is to increase the value of shopping center assets by 40 billion baht and boost Market Cap by an additional 20-30 billion baht. The long-term plan over 8 years aims to double asset size through investments in new shopping centers every 2 years to strengthen returns for investors.

Ms. Naparat Sriwanwithee, a director at CPN REIT Management Co., Ltd., the manager of CPNREIT, revealed that the overall retail and service business in 2025 is expected to grow by 3-5%, amounting to approximately 4.4 trillion baht. This growth is primarily driven by continuous support from the government, alongside the growth of the tourism sector and fashion products, which will help position retail and services as a key economic driver. However, challenges remain from reciprocal tariff policies that may impact the global and Thai economies (according to SCB EIC data).

CPNREIT is committed to continuous growth to become a leading retail trust in the region, supported strongly by Central Pattana Public Company Limited (CPN), Thailand's number one property developer with extensive experience in shopping center management. As a major sponsor and continuous trustee, CPN is bringing assets into the fund to foster mutual growth. CPN closely monitors consumer behavior, economic conditions, and competition in the retail industry to identify opportunities for developing shopping centers that align with current user needs and situations, while also assessing business opportunities and planning transformations for key locations to ensure sustainable returns for CPNREIT investors in the long term.

The trust focuses on a comprehensive growth strategy, emphasizing the quality and performance of shopping centers while continuously planning investments in high-potential assets to expand asset size, increase market capitalization, and enhance long-term return stability. CPNREIT aims to become the leading retail trust in the region, with a medium-term goal over the next 4 years (2025-2028) to increase the value of shopping center assets by approximately 40 billion baht, which is expected to raise market capitalization by about 20-30 billion baht from the current value of over 42 billion baht. This initiative aligns with CPNREIT's long-term plan to double asset size within 8 years, with plans to invest in new shopping centers every 2 years to create sustainable revenue and returns for trust unit holders.

“Currently, CPNREIT is considering shopping centers both in Bangkok and provincial areas, prioritizing those with strong performance and located in areas with continuous growth potential to enhance the stability of CPNREIT's long-term return growth, which will also boost investor confidence,” Ms. Naparat stated.

Ms. Naparat further mentioned that recently, the trust has been dedicated to developing and upgrading its three main assets continuously: 1.) Central Pinklao has undergone a major transformation after extending its lease for another 15 years to cater to affluent customers by creating new destination points that excel in fashion, food, and entertainment in the Thonburi area. This renovation aims to attract key anchor brands and new renowned brands under the concept "New Soul of the District," positioning the project as a central hub in the Thonburi area, with an investment budget of approximately 1.1 billion baht from CPNREIT, expected to be completed by Q3 2025.

2.) Central Chiang Mai Airport has transformed the retail landscape and upgraded its master planning under the concept "Reimagining Lanna," emphasizing luxury, vibrancy, and art, featuring Muji’s first flagship store in the North along with many new famous brands. Additionally, the local market zone has expanded threefold to 10,000 square meters, creating the Hug Craft & Northern Village zone to attract tourists. The project also includes a convention hall, tourist hub, multi-generation space, and the first Go Wholesale branch in the North, with an investment budget of approximately 800 million baht from CPNREIT, expected to be completed by Q2 2026. 3.) Central Marina has announced its transformation into "Central Marina Outlet," the newest outlet in the East, featuring leading lifestyle brands to create a new attraction for both locals and tourists, allowing shopping and relaxation until midnight every day with a night market featuring over 100 famous street food stalls and shops under the concept "The First Day-to-Night Lifestyle Outlet in Thailand," aiming for 30,000-35,000 visitors per day.

“The trust also prioritizes the safety of customers, operators, and all building users. It places great importance on disaster preparedness, such as earthquakes, reaffirming confidence that all shopping centers and office buildings under the trust, including Central shopping centers nationwide, have undergone thorough safety inspections by external structural engineers along with licensed building inspectors from the Engineering Council, adhering to engineering standards. The inspections cover five main areas: building structure, electrical systems and power sources, water systems and pumps, plumbing and wastewater treatment systems, and safety and elevator systems, ensuring users can confidently rely on the buildings' stability and safety,” Ms. Naparat concluded.