A new convention centre in Khon Kaen is scheduled to open before the end of the year, according to local media reports. CP Land is developing the project which it hopes will tap into a growing demand for meeting, conference and exhibition space in Thailand’s northeast.
Khon Kaen is Northeast Thailand’s education, investment, trade, economy, industry and transportation hub and boasts the highest income per person in the region. Currently the Khon Kaen University’s Golden Jubilee Convention Hall hosts major exhibitions in the region, but space there is very limited.
“There should be a convention centre there to support strong demand from exhibitors,” says CP Land Managing Director Naravadee Waravanitcha to the Bangkok Post.
CP Land will invest a total of THB 1.8 billion on the project that is situated on a 26-rai land plot on Mittraphap Road in the Muang district of Khon Kaen. Construction of the Khon Kaen International Convention & Exposition (Kice) centre began in 2016 and there will be a lettable area of around 14,000 sq. metres once it is completed.
The company is hoping to have a minimum of 24 events organised at Kice in 2018. CP Land aims to have reached the break-even point within 8 years. Up to 80 per cent of all visitors are likely be locals with the rest coming from nearby provinces as well as neighbouring countries.
Khon Kaen is CP Land’s second destination for property investment following only Bangkok. It has a total of nearly THB 3 billion in real estate investment throughout the northeast province. The company has 3 office towers in Khon Kaen with 80 per cent of the space currently occupied.
CP Land is considering investing in a new convention centre in the south of Thailand should the Khon Kaen project be successful. The company has a large land bank in Nakhon Si Thammarat it could use to build the new facility.
Featured Image:www.cpland.co.th
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