Central Pattana Public Company Limited, Thailand's leading sustainable real estate developer, has unveiled its vision and business strategy, announcing the development of a future business model called The Ecosystem for All. This model focuses on Synergy in Core Businesses, with Retail as the heart of the entire system, connecting with residential, office, and hotel businesses to meet the lifestyle needs of everyone both Online & Offline in a complete 360-degree approach. The plan also includes expanding into New Assets that will create a future of living while ensuring sustainable care for society and the environment.

Ms. Walaya Chirathivat, CEO and Managing Director of Central Pattana, stated, "We see new opportunities under the vision of Imagining better futures for all. For 42 years, Central Pattana has never stopped evolving, adhering to the concept of Centre of Life, which we have successfully implemented nationwide. We not only strengthen shopping center businesses but also expand into community malls, residential, office, and hotel businesses across the country, developing seamless connections among all components and linking to business partners, people, communities, society, and the environment. Therefore, we aim to create an 'evolution' towards a future business model called 'The Ecosystem for All'.

With Retail as the core, the strategy includes three key components:

1) The 360-Degree Centre of Life: A lifestyle hub that meets all needs both Offline & Online, encompassing shop-eat-work-play-stay-live 24/7, 365 days a year, nationwide. Within five years, traffic in our projects will increase from 1.2 million to 1.8 million people per day, equating to 657 million visits per year. In 2023, new mixed-use developments will include Central Ubon Ratchathani, Central Ayutthaya, and Central Rayong.

In the 5-Year Investment Plan (2023-2027), we will invest over 135 billion baht across all businesses, averaging 25-30 billion baht per year, with more than 200 projects covering 30 cities in Thailand and the ASEAN region. This includes 50 shopping centers, 17 community malls, 90 residential projects, 37 hotels, 13 office buildings, and 4 new Flex Offices, increasing the number of mixed-use projects from 18 in 2023 to 25 by 2027.

Additionally, we have laid out a 5-10 year long-term plan to develop 5 Mega Mixed-use Projects that will elevate Bangkok to the level of global metropolises like New York, Tokyo, or Seoul. The first project, Dusit Central Park, will gradually open in 2024-2025, along with four other major projects, each with a GFA of over 350,000 square meters and an investment of over 20 billion baht.

2) Total B2B2C Solutions: Connecting business partners to provide a comprehensive lifestyle experience through investments in Digital Transformation & Technology Infrastructure of 300-500 million baht per year, developing a Data-driven Omnichannel that benefits customers, partners, and society.

3) The Place Making for Sustainable Future: Emphasizing both 'people' by promoting Local Wealth, with over 6,500 employees in the next five years and creating over 100,000 jobs in the Ecosystem. We will provide free trading spaces for farmers and SMEs nationwide, valued at 300 million baht per year, and support government and CSR activities worth over 200 million baht annually. We are also committed to environmental care, progressing towards the NET Zero 2050 roadmap, such as saving over 200 million baht in energy, installing Solar Rooftops, and continuously expanding EV Charger Stations nationwide, increasing green spaces, managing waste, and expanding Recycle Shops in shopping centers.

Furthermore, the Central Pattana management team, including Chanawat Ueawattanaskul, Executive Vice President of Business Development and Projects, Naparath Sriwanwittaya, Chief Financial Officer and Executive Vice President of Finance, Accounting, and Risk Management, Wutthikiet Techamonkalaphiwat, Head of Community Mall and International Business Development, Kree Dechchai, President of Residential Business, Surang Jiratthikarnchoti, Head of Hotel Development, and Phumi Chirathivat, Head of Hotels and Alternative Investments, have jointly revealed business plans in various sectors to strengthen 'The Ecosystem for All' as follows:

Shopping Center Business as the Heart of the Ecosystem focuses on being the No.1 Market Leader with key highlights:

1. Launching 4 new projects in 2023-2024

  • Central Westville opening in Q4/2023 with an investment of over 6.2 billion baht, which will be The Next Evolution of Semi-Outdoor Model transforming the Ratchaphruek area, currently with nearly 100% store occupancy, reinforcing success similar to Central Eastville.

  • Central Nakhon Sawan opening in Q1/2024 with an investment of 5.8 billion baht, which will be a large mixed-use project enhancing the potential of the region, connecting to the northern zone.

  • Central Nakhon Pathom opening in Q2/2024 with an investment of 8.2 billion baht, expanding to the western region of the country.

  • Introducing the latest project Central Krabi with an investment of 4.5 billion baht, opening in Q4/2024, a mixed-use project in a tourist city, which will be The New Gateway to Southern Paradise, located in the city center, comprising shopping centers, residences, and hotels, enhancing Krabi's potential as a city with the world's most famous islands and a top 5 global tourist destination, serving as the first and largest complete landmark to stimulate the economy of the province and the country.

2. Expansion and Renovation for Big Impact including:

  • Central Pattaya, which has revamped the Hilton hotel, achieving higher occupancy than in 2019, and is preparing to renovate the shopping center, adding various zones to cater to its status as a global tourist city, with additional Bridgeline and luxury brands to meet the increasing demand from tourists, primarily for branded products.
  • The success of Central Ramindra with traffic doubling.
  • Preparing to expand Central Westgate, which has successfully become a Super Regional Mall with continuous good traffic, complemented by new large anchors, expanding retail space, and adding parking buildings, along with other renovations aimed at making it the best shopping center in every area, including the revamp of Central Ubon Ratchathani to accommodate the Centara hotel, enhancing the mixed-use, as well as Central Marina, Pinklao, Chaengwattana, Chiang Mai, and Khon Kaen.

3. Experiential Place Making at a Global Level led by:

  • centralwOrld reinforcing its status as a Global Landmark, creating phenomena with world-class brands choosing to launch here first, preparing to offer new experiences such as the world-renowned burger restaurant Shake Shack, set to open in late March as its first branch in Thailand.
  • Central Phuket, the only luxury mall in Thailand located in a world-class tourist city, preparing to welcome global luxury brands.

4. Advancing 5 Mega Mixed-use Projects, each comparable to centralwOrld, led by:

  • Dusit Central Park, in partnership with Dusit Thani Group, with a total investment of 46 billion baht, which is a one-of-a-kind mixed-use project that seamlessly integrates green spaces with urban life, featuring four key interconnected components:
    - The Central Park shopping center that connects all parts together, with the concept Here for curated experience and inspiration to create new experiences and inspiration for people in Bangkok.
    - Central Park Offices, Grade A+ office buildings intended to be a global prototype of the future workplace.
    - Ultra-Luxury Branded Residences.
    - The only Global Legendary Iconic hotel in Thailand.

Community Mall Business

  • Launching the major project Marché Thonglor with a total project value of 2 billion baht (Soft Launch on March 26, 2023), as the flagship of community malls and the largest and most comprehensive landmark in the heart of Thonglor, targeting high purchasing power office workers within the same project and expatriates, complemented by over 2,300 square meters of green space, pet-friendly, and being the largest food destination in the area, with 24-hour parking, and plans to develop the current project at Nawamin City and renovate 4 locations this year.

Residential Business

Emphasizing the key strategy of Best Location & Best in Class in every location, adjacent to or near Central shopping centers, and starting to expand projects adjacent to Robinson Lifestyle, leveraging strengths in synergy with leading brands within the Central Group.

In 2023, we plan to launch a total of 7 new projects with a total value of over 9 billion baht in the Bangkok area, expecting to cover 27 provinces by 2027, including:

  • 3 condominium projects: ESCENT Phetchaburi, Buriram, and Nakhon Si Thammarat.
  • 4 horizontal projects:
    - Baan Nirathi, Nakhon Si Thammarat.
    - New brand Baan Nirada, Rama 2.
    - New brand Baan Nirada, Uthayan.
    - New brand Baan Nirada, Ekachai.

Additionally, we are developing a new platform, Central Pattana Residents, consolidating all conveniences for living into a single app specifically for residents.

Office Building Business

Highlighting the strength of Strategic Locations in CBD Bangkok, we are preparing to unveil a major project, Central Park Offices, within the Dusit Central Park project, which will be a new World-Class Professional Hub for leading global companies, located in a Super Core CBD interchange station for both BTS and MRT, featuring large Rooftop Park green spaces connecting to Lumpini Park, and special floors with Private Outdoor Gardens. It will also focus on World-Class Design and Facilities, aiming for World-class LEED Gold Certification and customized spaces for businesses of all sizes.

Hotel Business

Emphasizing Central Pattana's expertise in developing potential locations and reaching customers nationwide, while enhancing the standards of hotel stays to meet all travel purposes. In 2023, we will open hotels across all three brands, totaling 10 hotels with 1,600 rooms. New projects set to open this year include:
1) Centara brand: Upscale Full-Service, preparing to open Centara Ubon and Centara Ayutthaya.
2) Centara One brand: Lifestyle Midscale, preparing to open the first location, Centara One Rayong.
3) GO! Hotel brand: Premium Budget Hotel and pet-friendly, preparing to open in Robinson Ban Chang, Central Sriracha, and Central Chonburi.

Central Pattana Public Company Limited is driving towards the future under the brand's commitment to Imagining better futures for all by creating and developing spaces to enhance the quality of life for people and communities, alongside environmental growth, while advancing economic progress and driving Thailand forward.