Central Pattana Public Company Limited (CPN), Thailand’s largest retail developer, is looking to make a big impact on the Thai retail industry by announcing 7 new projects for 2012 and 2013, with a combined value of 25.3 billion baht.
The new projects include the new Centara Udon Thani Hotel (January 2012), the new Central Plaza Udon Thani (soft opening on 27 March and grand opening in 26 April 2012), Central Plaza Lampang (December 2012), Central Plaza Ubon Ratchathani (April 2013), Central Festival Hat Yai (October 2013) and Central Festival Chiang Mai (November 2013), which will raise CPN’s combined gross floor area from the current 4.2 million square metres to over 5 million square metres by the end of 2013, and help reinforce the company’s status as Thailand’s number one retail developer.
Models stand next to a billboard showing CPN’s new retail development projects for 2012-13.
Kobchai Chirathivat, CPN’s President & CEO, said: “CPN sees the growth potential of major cities across Thailand and realizes that by investing in retail projects in such strategic locations, the company can greatly impact these provinces and complement them. CPN aims to bring globalization and urbanization to these potential cities and help raise their value and boost community spirit.
“By developing and operating new shopping malls in these provinces, CPN will be maintaining a diversified investment portfolio and helping to spread economic growth and create jobs in areas it operates its business”, he added. “The seven new projects are all located strategically in areas where purchasing power is high.”
Although Thailand had to face tough challenges during the recent severe flooding, CPN still experienced success with the launch of four new projects – Central Plaza Chiang Rai, the new Central Plaza Lardprao whose renovation took only six months, Central Plaza Phitsanulok and Central Plaza Grand Rama 9, which is the first shopping mall to be connected to an underground station.
“Over the past year, CPN has revolutionized the Thai retail sector by applying the latest innovations to its planning and operations, including design, marketing and corporate management,” said Mr. Kobchai. “We have received over 50 awards and recognitions from both local and international organizations. Thai people can be proud of the fact that shopping centres in this country can compete with those in other countries.”
Central Plaza Chiang Mai Airport.
Currently CPN is no longer competing only against local companies, but also against major retail developers who have chosen to invest in Thailand. CPN’s investment in these 7 major new projects aims to highlight the company’s status as Thailand’s number one retail developer which is well on its way to becoming a globally recognized company. CPN is confident that each and every one of these projects has excellent growth potential and will definitely help revolutionise the Thai retail industry.