CPN invests 60 billion baht to develop and renovate 10 shopping centers and create new lifestyle innovations
CPN invests 60 billion baht to develop and renovate 10 shopping centers and create new lifestyle innovations, aim to strengthen the Thailand economy as a hub of tourism and shopping in the region
- 60 billion baht budget to develop 5 new projects and renovate 5 existing projects from 2016-2018
- Tearing up the traditional format of the shopping center, revealing a new era by creating 6 new lifestyle innovations, making the shopping center a second home , promoting Thailand as the ultimate shopping and tourism destination
- Utilizing expertise in shopping center development with over 36 years of experience to create prosperity in strategic areas all over Thailand and supporting Thai entrepreneurs to expand both domestically and internationally as well as contributing to the strength of Thailand’s economy
Today, Central Pattana plc (CPN) announces its three-year business plan (2016-2018), stating that it will push forward with ten mega projects: creating five new projects and renovating five existing shopping centers. With the top position in the retail development industry, CPN is engaging partners and investors in modern retail channels and aims to support Thailand as the ultimate shopping hub in the region.
Mr. Preecha Ekkunagul, President and CEO of Central Pattana Public Company Limited (CPN) said: “CPN is the leading retail developer, with the highest value in Thailand’s real estate for business. With a bright vision to start developing potential areas across the country, CPN has managed to open the highest number of shopping centers. CPN has successfully cooperated with both business people and locals in order to help develop areas into important economically strategic areas of the country. CPN, by 2018, will have opened a total of 34 shopping centers, with a total space of 8 million square meters and will be ready to operate in overseas markets, beginning with a special project in Malaysia.”
The five new projects of CPN between 2016 and 2018 include CentralPlaza Nakhon Si Thammarat – the largest and most extensive lifestyle shopping center in the province, supporting its potential to be a ‘logistics hub’ of the South. It has been officially open since July 2016.
CentraPlaza Nakhon Ratchasima: Mahanakhon of Isan; the largest mixed-used project in Isan comprises a shopping center, hotel, convention center, condominium, outdoor lifestyle market and park in one place. It creates a model of modern living that covers all dimensions for people in the Northeast, with a unique decorative theme bringing the colors of five seasons to the region. The ‘Korat River Walk’ will be created as a rest area and activity zone for the people of Korat. CentraPlaza Nakhon Ratchasima is opening at the end of 2017.
CentralPlaza Mahachai is situated in a location with high potential on the Rama II Road, the gateway to the South, surrounded by economic sources and the major industries of Samut Sakhon and nearby provinces. It is a well-known seafood source and a perfect stopover point, which can be reached by an expressway and the outer ring road. A large parking space is provided in front of the shopping center, which is able to accommodate public transport, coaches of tourists and people who are traveling through the province. The shopping center includes the ultimate food destination on 10,000 square meters of space catering to every taste – those who like to hang out, eat, drink and chill out, those on a family day out, eating in cafés, bakeries and taking food home. The highlight is the new urban style seafood market, which is full of fresh seafood together with great service from the chefs, who can prepare a variety of dishes for customers. CentralPlaza Mahachai is opening in the 3rd quarter 3 2017.
Central Phuket – a world class mega project, with a total investment of over 20 billion baht, located in the heart of Phuket. The project consists of 2 shopping centres, 2 concepts that fulfills both luxury lifestyle and casual lifestyle, target to serve both Thais and tourists. The project also includes a premium hotel, world-class convention center and attractions that will deliver special experiences beyond the imagination. These “Must Visit” attractions are: 1) The Mystic Forest – the creation of a wonderland paradise of the future, which combines advanced technology with Thai culture and a green zone along with adventure activities; 2) Aquaria – cooperation between Thailand and Malaysia is creating a world-class attraction with the largest underwater world in Thailand and the worlds largest ‘Aquascape’ – an exhibition of aquatic plants; and 3) Tales of Thailand – a floating market with popular items from every region that will grab the attention of visitors from around the world as it will give them the chance to experience the Thai way of life. This landmark represents the unique identity of Thailand and is something for Phuket province to be proud of. There will also be a world standard entertainment center and a venue to hang out that includes many popular restaurants. Central Phuket is opening at the end of 2017.
Central i-City – CPN’s first shopping center overseas, located within the i-City Ultrapolis project in Malaysia. This is a joint investment between CPN and I-Berhad, a major real estate developer in Malaysia. This is CPN’s pilot project for overseas markets as the first step in becoming a regional retail developer. The project has high potential as it is located in Malaysia’s mega project area, which is being touted as a world-class business district and a shopping and lifestyle hub. The project includes commercial space, commercial buildings, a cyber office, Cisco Computer’s Cyber Center, residential buildings, and attractions for tourism. Central i-City is opening in 2018.
In addition, CPN will also renovate five existing projects: CentralPlaza Pinklao, CentralPlaza Bangna, CentralPlaza Pattaya, CentralPlaza Rama III and CentralWorld to fit the modern age, and add new innovations to fully intersect with people’s changing lifestyles.
Mr. Preecha added: “With the vision of a leading shopping center developer, CPN continually develop shopping center projects in every type of economic situation and has been creative in ways that follow consumer trends, especially as technology is growing very rapidly and bringing about dramatic changes to people’s mode of living. That’s why we are innovating six lifestyle innovations to set the framework of our future projects – both for new developments and renovations. We aim to make our shopping centers like a second home for everyone where all modern lifestyles are met and fulfill every needs of all target.”
CPN’s six lifestyle innovations are 1) Integrated ambience : to create atmosphere in the shopping centers by bringing in innovative design and technology to give them originality and excitement; 2) Food destination : a destination that comprehensively fulfills all food requirements for all targets such as social lifestyle, family dining, cafe and take home food; 3)Family Offerings : a destination for family with services that serve all generations, aim to provide an ideal space for family’s activities to reconnect and spend good time together; 4) Co-working space: a space for creating ideas of working or studying along with complete services; 5) A Must Visit Attraction: to create the ‘first ever -in-Thailand’ attractions offering a very new and exciting experience; and 6) ‘Market Market’: a new model of lifestyle outdoor market that supports local entrepreneurs and SMEs in entering modern retail channel, by having CPN as a business consultant to support Thai entrepreneurs and SMEs to grow further with CPN.
“Every development of CPN plays a major role in prosperity and business improvement, income distribution, jobs and the creation of employment opportunities. This helps to boost the economy both locally and nationally and promotes Thailand as the ultimate lifestyle shopping hub in the region,” Mr. Preecha concluded.