Retail property developer Central Pattana has revealed that it will be creating landmark world-class shopping destinations to push Thailand further into becoming the regional shopping hub of the ASEAN region.
To make this happen the company plans to emphasie its leading business position, with a total of 31 shopping centres nationwide and a total Gross Floor Area (GFA) of 7 million sqm.
The eight landmark shopping destination projects (with a total value of THB53 billion), that it aims to become new shopping hubs in the country are Central WestGate, Central Plaza Rayong, Central Festival East Ville, Central Plaza Nakhonsrithammarat, Central Plaza Nakhonratchasima, Central Phuket shopping centres and the newly transformed Central Plaza Pinklao and Central Plaza Bangna.
Preecha Ekkunagul, President and Chief Executive Officer of the company, said: “Over the past 34 years, CPN has been continuously developing the foundation of retail business to reach global standards and creating new experiences for the modern lifestyle.
“We believe Thailand’s economy is likely to grow much greater in the future. The government’s mega projects will also push Thailand towards becoming the centre of ASEAN.
“Entering the AEC will be a great opportunity that allows immense support for the retail business. CPN’s next step is to usher Thailand to taking the lead in the regional retail industry by creating landmarks of world-class shopping destinations.”
The eight projects are due to open between 2015 and 2017.
Image: The recently-opened Central Embassy department store in central Bangkok.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.
