Central Pattana Plans 120 Billion Baht Mega Project Over Five Years
New developments aim to establish 'The Central' in Phaholyothin as a new CBD in Bangkok.
Central Pattana Public Company Limited (CPN) has announced an ambitious investment plan of 120 billion baht (approximately USD 3.6 billion) for the development of a series of major projects over the next five years, from 2025 to 2029. The centerpiece of this initiative is 'The Central' in Phaholyothin, which is envisioned as a new central business district (CBD) for Bangkok, designed to meet the surging demand for commercial space in the area.
Viriya Jirathiwat, CEO and Managing Director of CPN, highlighted the company's commitment to growth alongside its customers, partners, employees, and communities throughout Thailand.
This development strategy is built around a retail-led mixed-use model focusing on four key areas: optimal locations, comprehensive catchment analysis, best master planning for seamless integration, and collaboration with expert partners.
CPN recorded an all-time high in revenue and success across various sectors, including retail, residential, hotel, and office operations last year.
The investment will initiate with the 'Central Park' project, which is expected to open later this year.
Following this, CPN will reveal plans for three new developments, including the mega project 'The Central' in Phaholyothin, part of a long-term vision for Bangkok.
This project is planned to launch in the fourth quarter of 2026 and will be complemented by the growth of Central Ladprao.
Other projects in the pipeline include 'Central Northville', the largest mixed-use development in Nonthaburi, and 'Central Khonkaen Campus', the second such development in Khon Kaen.
Further plans include mega projects in Rama 1, Rama 9, and Ploenchit among others.
By the end of 2025, CPN anticipates having 135 projects across all business lines, including retail, hotels, residential properties, and office spaces.
Of these, 30 will be classified as mixed-use developments across 44 high-potential locations.
In terms of retail openings scheduled for 2025, notable projects such as a community mall 'Market Place Theparak' set to open on March 28, 'Central Park', including retail and office spaces launching in August, and 'Central Krabi', set to debut in October, are poised to enhance the company's market presence.
Napharat Sriwanwath, CFO and President of Hotel and Office at CPN, noted that the previous year brought record-high revenues totaling 51.843 billion baht, alongside a net profit of 16.729 billion baht.
The company's initiatives have attracted an unprecedented visitor traffic of over 500 million annually, with central shopping malls receiving approximately 67 million visits each year.
The residential segment has also expanded, reflecting the popularity of condominium projects adjacent to CPN’s shopping centers, such as Essence in Nakhon Sawan, Nakhon Pathom, and Nakhon Si Thammarat.
This growth in residential sectors is complemented by ongoing hotel and office developments, including the recent opening of the Hilton Garden Inn in Rayong, with plans to continuously expand their GO! Hotel franchise.
CPN’s office sector has shown resilience with an occupancy rate exceeding 90% at the end of the previous year.
Viriya Jirathiwat, CEO and Managing Director of CPN, highlighted the company's commitment to growth alongside its customers, partners, employees, and communities throughout Thailand.
This development strategy is built around a retail-led mixed-use model focusing on four key areas: optimal locations, comprehensive catchment analysis, best master planning for seamless integration, and collaboration with expert partners.
CPN recorded an all-time high in revenue and success across various sectors, including retail, residential, hotel, and office operations last year.
The investment will initiate with the 'Central Park' project, which is expected to open later this year.
Following this, CPN will reveal plans for three new developments, including the mega project 'The Central' in Phaholyothin, part of a long-term vision for Bangkok.
This project is planned to launch in the fourth quarter of 2026 and will be complemented by the growth of Central Ladprao.
Other projects in the pipeline include 'Central Northville', the largest mixed-use development in Nonthaburi, and 'Central Khonkaen Campus', the second such development in Khon Kaen.
Further plans include mega projects in Rama 1, Rama 9, and Ploenchit among others.
By the end of 2025, CPN anticipates having 135 projects across all business lines, including retail, hotels, residential properties, and office spaces.
Of these, 30 will be classified as mixed-use developments across 44 high-potential locations.
In terms of retail openings scheduled for 2025, notable projects such as a community mall 'Market Place Theparak' set to open on March 28, 'Central Park', including retail and office spaces launching in August, and 'Central Krabi', set to debut in October, are poised to enhance the company's market presence.
Napharat Sriwanwath, CFO and President of Hotel and Office at CPN, noted that the previous year brought record-high revenues totaling 51.843 billion baht, alongside a net profit of 16.729 billion baht.
The company's initiatives have attracted an unprecedented visitor traffic of over 500 million annually, with central shopping malls receiving approximately 67 million visits each year.
The residential segment has also expanded, reflecting the popularity of condominium projects adjacent to CPN’s shopping centers, such as Essence in Nakhon Sawan, Nakhon Pathom, and Nakhon Si Thammarat.
This growth in residential sectors is complemented by ongoing hotel and office developments, including the recent opening of the Hilton Garden Inn in Rayong, with plans to continuously expand their GO! Hotel franchise.
CPN’s office sector has shown resilience with an occupancy rate exceeding 90% at the end of the previous year.
