Central Pattana Plc (CPN), the SET-listed property developer under the Central Group of Companies, has set its sights on becoming a regional retail property developer by 2015. “Over the next five to six years we aim to have at least two or three shopping complexes overseas,” said Naris Cheyklin, senior executive vice-president for finance and accounting.
He added that the business deal between Central Pattana and a Chinese landlord is expected to be sealed in the next few months.
The first retail project in China will cover 300,000 square metres and involve an investment of 6 billion baht, comparable to that of the Central Chaeng Watthana branch.
Mr Naris insisted that the first project in China would be opened in 2012.
Over 28 successful years, CPN has evolved into Thailand’s largest and most sophisticated developer of retail property. Currently the Company owns and manages 10 premium shopping centers, five office buildings and two residential condominiums. With a total gross floor area (GFA) exceeding 1,460,000 squaremetres, CPN is undoubtedly the industry leader surpassing its closest competitor by more than double in size.
The pace of development has intensified during the past seven years. Today’s CPN opens, on average, one new shopping center each year and plans to continue this strong rate of growth into the foreseeable future. In 2007, CPN annouced four exciting new projects, due to be completed by 2009 : CentralPlaza Chaeng Wattana, KaonKaen, Chonburi and CentralFestival Pattaya beach.
The Company’s long-term strategy envisages the development of its trademark shopping centers in well-identified locations offering high potential both in Bangkok and in major cities throughout Thailand. Its next challenge is to move overseas, exporting its retail property expertise to neighboring countries through the development of innovative World class shopping centers in strategic markets.
|Number of Shopping Centers:||10||Number of Offices||5|
|Total leasable area (sqm):||697,038||Total leasale area (sqm):||144,791|
|Number of Tenants:||3,031||Number of Tenants:||261|