CPN launched its first mixed-use property project in Nakhon Ratchasima, local media reported. The development will cost THB10 billion to build and is part of the company’s long-term plan for expanding in the province.
The project is scheduled to open in the third quarter of 2017 and construction is already 15 percent complete. In 2013, CPN had launched a similar retail-only project in Korat, but has now shelved those plans in favor of the new development. The project was going to be built along the city’s Outer Ring Road, however, that land will now be saved for a yet to be determined project to come at a later date.
The new development is being built on a 65-rai plot of land on Mittraphap Road. The project will feature a shopping mall, a hotel, a condominium, a convention hall, an outdoor lifestyle market and a park. CPN estimates that 40,000 to 50,000 people will visit the complex each day once it is open.
“We saw great potential for developing a large mixed-use project in Nakhon Ratchasima as the province is attracting private investment in line with the capital city’s expansion and the government’s 2020-25 plan to invest on transport and infrastructure projects, such as dual-track and high-speed railways, in the province,” said Wallaya Chirathivat, CPN senior executive vice president. “What we would like to do in Nakhon Ratchasima is to develop a new central business district in the province.”
In other news, CPN is preparing to open its newest project in Nakhon Si Thammarat this week. This will be the 25th CentralPlaza retail complex to open. There is also a massive renovation and rebranding underway at its Pattaya Centre complex. It is slated to open later this year and will be known as CentralPlaza Pattaya. An announcement will be made shortly about CPN’s plans for CentralWorld in Bangkok. The company is expected to revamp the entire property.
