Central Pattana Public Company Limited, Thailand's leading real estate developer, is advancing its global vision by announcing the signing of a Memorandum of Understanding (MOU) with Sun Group, a leader in real estate and tourism in Vietnam, to explore opportunities for world-class retail and mixed-use development projects in Vietnam. This reflects Central Pattana's role as a leading Thai real estate company expanding its potential to the regional level.

The signing ceremony took place during the Thailand-Vietnam Business Forum 2026 in Bangkok, attended by Thailand's Prime Minister Anutin Charnvirakul and General To Lam, the General Secretary of the Communist Party and President of the Socialist Republic of Vietnam, along with high-level representatives from Vietnam and senior leaders from both countries. This event marks the 50th anniversary of diplomatic relations between Thailand and Vietnam and their shared goal of boosting trade value between the two countries to $25 billion under the 'Three Connectivity' strategy. Therefore, the collaboration between Central Pattana and Sun Group is a significant step in driving investment, urban development, and a new service economy for both countries.

Mr. Chanawat Uthavatanasuk, the CEO and Managing Director of Central Pattana, signed the agreement with Mr. Dang Minh Duong, Chairman of Sun Group, with Ms. Walaya Chirathivat, Chairman of the Central Group, and senior executives from both companies witnessing the event. Central Pattana and the Central Group have a long-standing relationship with Vietnam through various business operations and continuous investments in the country. This collaboration is considered an important 'Regional Strategic Move' to enhance the joint potential of two leading organizations in the region. In addition to this collaboration, Central Pattana plans to invest $2 billion or approximately 66 billion baht over the next 15-20 years, opening up opportunities for development and collaboration with capable Vietnamese partners to create long-term growth for the region in the future.

This collaboration also reflects Central Pattana's vision of growth through a 'Global Lens', believing that the development of Retail-Led Mixed-Use Development is not just about creating commercial spaces but about building a future economic and lifestyle platform that connects people, cities, tourism, and business opportunities. As one of the main driving forces of the Central Group, Central Pattana has expanded its vision of being the number one leader in Retail-Led Mixed-Use Development in Thailand to a regional role, leveraging its expertise in developing projects that integrate shopping centers, office buildings, hotels, and residences into a single ecosystem to sustainably enhance the economy, cities, and quality of life for people.

Currently, Central Pattana is a developer and manager of various retail and lifestyle destinations, covering 45 shopping centers, 53 residential projects, 11 office buildings, 13 hotels, and 16 community malls across Thailand. It also has experience in developing and managing mixed-use projects nationwide, with 'centralwOrld', a world-class landmark in the heart of Bangkok, serving as a key model for creating a destination that seamlessly connects Retail, Lifestyle, Entertainment, and Tourism, attracting people from around the world while generating long-term economic impact for the city. Mixed-use projects in various potential cities across Thailand, including Phuket, Chiang Mai, Korat, Khon Kaen, and Chonburi, play a crucial role in income distribution, driving the economy, and tourism in the country.

The partnership between Central Pattana and Sun Group not only represents the unification of two real estate leaders but also reflects the roles of Thailand and Vietnam as future economic, investment, and tourism hubs in Southeast Asia.

Both parties will jointly explore opportunities for landmark project development in key economic cities in Vietnam, including:

  • Da Nang: Development of large-scale commercial and lifestyle projects along the Han River to create a new city landmark.
  • Ho Chi Minh City: Development of retail and mixed-use projects in the New CBD and future economic center.
  • Phu Quoc: Creation of a Luxury Retail & Lifestyle Destination to elevate Phu Quoc Island to a world-class Shopping Paradise.

Under this agreement, both parties will collaborate to develop premium shopping centers and mixed-use projects in Vietnam's economic cities and key destinations, including Da Nang, Ho Chi Minh City, and Phu Quoc, aiming to create large landmark projects that will set new standards for urban living, retail experiences, and international lifestyles while supporting Vietnam's long-term economic and social growth.

About Central Pattana

Central Pattana Public Company Limited, established in 1980, is a leading sustainable real estate developer in Thailand and the pioneer of the country's first modern shopping center. Over more than four decades, the company has played a significant role in driving the economy, tourism, urban development, and enhancing the quality of life for people through its Retail-Led Mixed-Use Development business model under the vision of 'A Future-Led Ecosystem'. Central Pattana continues to develop landmarks and mega-projects in Bangkok and potential cities nationwide, reaffirming its commitment to elevate Thailand to the global stage. The company is continuously expanding its business in shopping centers, residential, office buildings, and hotels, alongside enhancing technology-driven platforms such as The1 and The1 Biz to create an ecosystem that connects people, communities, and businesses across the country. The company is committed to its mission of 'Imagining better futures for all' and has been recognized as a Best-in-Class real estate company globally in the DJSI index for eight consecutive years, while continuing to pursue its goal of Net Zero by 2050.

About Sun Group

Sun Group was founded in 2007 and is one of Vietnam's leading private business groups, pioneering the development of a comprehensive ecosystem covering tourism, entertainment, hotels, real estate, infrastructure, and aviation. Under the mission of 'Enhancing Beauty to the Lands', Sun Group plays a crucial role in elevating and creating iconic destinations throughout Vietnam. The company's portfolio includes internationally recognized tourism and hotel projects, as well as amusement parks and attractions under the Sun World brand. In aviation, Sun Group is expanding its business through strategic investments in airport infrastructure and Sun Phu Quoc Airways, developed under the Hub-and-Spoke model with Phu Quoc Island as the main hub. Additionally, Sun Group plays a significant role in developing infrastructure to host the APEC 2027 meeting in Phu Quoc. With its ecosystem development approach that connects all dimensions, Sun Group continues to support Vietnam's long-term economic and social growth while enhancing Vietnam's potential on the global stage.