- Emphasizing on “Centers of Life” to uplift quality of life, employing three strategies, namely 1) creating a sustainable ecosystem to develop districts and cities, 2) using a customer-centric approach to build successful communities, and 3) being a partner champions to help partner grow their businesses in Thailand and overseas.
- The company is planning to turn Ratchaphruek neighborhood into a new upper-class lifestyle hub of western Bangkok with its new Central WestVille following the evolution of semi-outdoor retail model, tapping into the affluent target group
- Ready to open Central Chanthaburi on 26 May 2022, the most comprehensive mixed-use development in the eastern region, expecting it to boost the local economy and supporting the expansion of the EEC project.
- Hilighting successful projects including Central Ayutthaya and Central Si Racha helped boosting local economies, the new zones of centralwOrld to reinforce its world-class landmark destination, the second phase of Central Village, and the revamp of Central Rama 2 which has boosted traffic volume.
Bangkok - Central Pattana Plc., a global sustainable real estate company and developer of Central shopping centers, residential projects, office buildings and hotels across Thailand, is moving forward with its retail-led mixed-use development with a yearly budget of over 20 billion baht aiming to create “centers of life” across the country.
The company is utilizing the strength from its sustainable ecosystem, to develop districts, communities and cities, as well as the industry leadership in customer-centric development to enrich and cater to all lifestyles. It is positioning itself as the “partner champions” to support its partners with end-to-end solutions to grow business together.
The highlight projects include Central WestVille worth 6.2 billion baht in Ratchaphruek area to be launched in Q4/2023 and Central Chanthaburi worth 3.5 billion baht on 26 May this year. In addition, Central Pattana is planning to add about two to three world-class destinations and new projects to its portfolio each year as well as carry out major renovations for over 10 existing projects.
Ms. Wallaya Chirathivat, President and CEO of Central Pattana Plc., said, “Central Pattana is determined to create better futures for everyone as the place maker who develops places of the future with attention to quality of life and care for the society and environment.”
“Throughout the past 40 years, we have been the pioneer in the retail landscape and have created many changes and improvements to the country and how places could be used to serve new lifestyles. We have always been successful in creating the centers of life due to the ability to strengthen our diverse businesses, including shopping centers, residential projects, hotels and offices, as each of these is able to truly serve the needs of the people,” she said.
Mr. Chanavat Uahwatanasakul, Chief Development and Commercial Officer of Central Pattana Plc., said, “We plan to expand by launching new projects as well as upgrading the existing ones. In these two years, we have set aside a budget of over 20 billion baht per year to implement ‘Imagining the Future of Retail’ strategies, which utilize our strengths in three areas, which are, sustainable ecosystem, customer-centric approach, and our position as partner champions to help our partners grow with us.”
Strategy No.1: Sustainable Ecosystem
According to Mr. Chanavat, as the company expands its projects into different regions, cities and locations, it will bring in partners, local entrepreneurs and communities into its sustainable ecosystem.
“We study the potentials of each district and city, local purchasing power and lifestyle of the local people in order to create places which can improve quality of life and build confidence for our partners to help them expand their businesses. In addition, we are a ‘dynamic place maker’ who incorporates new trends to develop ‘spaces of the future’ with attention given to how people can live their lives in the future, employing an experiential and customer-centric design,” said Mr. Chanavat.
“We also blend green spaces and nature with our projects and ensure that public space accounts for a large proportion. Local identity is used and integrated with the project, especially in the aspects of art and culture. We also approach local heroes and seek to co-create spaces with them,” he said.
Central Pattana has revealed its newest project Central WestVille worth 6.2 billion baht on a land plot of 40 rai and with a gross floor area (GFA) of 93,000 square meters, taping into Ratchaphruek neighborhood and connect it to the CBD of Bangkok. Central WestVille, under the concept of ‘Reinventing the Neighborhood’ scheduled for opening in the Q4/2023, aims to uplift western Bangkok to be an upper-class lifestyle hub.
Central WestVille will:
- Build upon the evolution of the semi-outdoor retail model of Central EastVille and become a green park for the city, a modern façade design to open the venue up for natural air, and light which will bring out the nature from inside to outdoor spaces for family activities and a pet-friendly environment.
- Cater to the emerging lifestyle with day-to-night urban and outdoor activities, such as jogging with pets, urban farming, organic weekend markets, family activities, art exhibitions, and hangouts at chic café and restaurants.
- Offer affluent and quality lifestyles as it targets people living in high-end residential projects, worth among 10-100 million Baht, in the neighborhood with a population of 415,000 who live in those 115,000 residential units and have high purchasing power and live a lifestyle similar to those living in the CBD and EastVille area. It also offers a new concept of Central Department Store, Central Foodhall, and B2S ThinkSpace.
In addition, the company is preparing to launch Central Chanthaburi, the most comprehensive mixed-use development in the eastern region, worth 3.5 billion baht on 26 May this year. Tapping into the potential of Chanthaburi, this project is also expected to cater to the future growth of Eastern Economic Corridor (EEC) and support economies of secondary tourist cities. It is designed with a semi-outdoor model and inspired by the local essence of Chanthaburi. Collaborations with the local people and local heroes will help highlight tourism in the area.
Central Chanthaburi targets 1.8 million people living in Chanthaburi and neighboring provinces, who have modern lifestyles and high purchasing power, with its green area of four rai as the city’s lung and 4,000 sq.m. of recreation and a sport destination.
As for the success in recent expansion and renovation of existing projects, Mr. Lertvit Pumipitak, Head of Property Management of Central Pattana Plc., said, “At the end of the previous year, we saw success in the opening of Central Si Racha, which is a model for eco-friendly malls and seamless retail spaces in the eastern region. We also launched Central Ayutthaya as a world-class destination that brought spotlights to tourism in Ayutthaya. These two projects have received great responses and generated a total traffic of 50,000 visitors per day during the launch.”
“We will continue to create new spaces and new experiences in existing projects. At centralwOrld, there will be global phenomenon and new zones, such as Zone I and Hug Thai Zone, to reinforce its landmark position. Central Village, Thailand’s first luxury outlet, saw an increase of 15% for its traffic in January (YoY) after the opening of the second phase. Central Rama 2 has gone through a major revamp to become the ‘regional mall of South Bangkok’ in order to tap into the wealth segment, and has seen a traffic increase of 25% comparing to those before the renovation,” he said.
Moreover, there will be the major renovation of more than 10 existing projects such as centralwOrld, Central Rama 2, Ramindra, Pattaya Beach, Chaengwattana, WestGate, Chiangmai Airport, Khonkaen, etc.
Strategy No.2: Customer-Centric Approach
Dr. Nattakit Tangpoonsinthana, Head of Marketing of Central Pattana Plc., said, “The customer-centric approach allows Central shopping centers to become the ‘centers of life’ which can cater to all lifestyles. We use insight information to design and curate experiences we offer to the customers, resulting in over 1,000 events per year and many innovations applied to shopping centers.”
The company is able to differentiate its shopping centers by identifying emerging lifestyles and trends for every lifestyle, carrying out co-campaigns with world-renowned partners and new disruptive platform with VR technology to provide virtual experience in a cross-regional space, creating tourism multipliers with localized events to boost the economy and help local people, and being a leading sustainable organization, with recycling stations built at Central Si Racha and Central EastVille, solar rooftops and EV chargers, as well as enhancing health standard, and the use of organic products.
Strategy No.3: Partner Champion
Mr. Isareit Chirathivat, Head of Partner Management of Central Pattana Plc., said, “We are ready to be the business partner to help them grow their businesses in a sustainable way. This can be done with our end-to-end solutions, consisting of growth and expansion support via a co-investment, funding and franchising model, various supports for business operations, the big data from The 1 and The 1 Biz, and the use of a retail omnichannel to promote and drive the businesses of our partners, as well as transaction management and other services.”
“We focus on our strength, which is our ability to assist our partners to truly scale up their businesses. They will become part of a strong ecosystem of Central Group. As we have a superb infrastructure as well as excellent facilities and services, it is always convenient for our customers. They do not need to invest in everything by themselves but can easily take up opportunities to expand their businesses, and test or tap into new markets in the country and overseas,” he said.
Central Pattana is moving into a new future with its brand purpose of “Imagining better futures for all” to create and develop quality places with care for the people, community and environment, while driving the economy and the country.