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.
CPN is the leading developer, manager and investor of retail and commercial properties in Thailand. In operation for more than 25 years, CPN today owns and manages 10 premium shopping centers, five office buildings and two residential condominiums with total gross floor area of over 1.5 million sqm. CPN is also the property manager and largest shareholder in Thailand's largest listed property fund, CPN Retail Growth Property Fund (CPNRF).
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.
Property Overview
|
Retail
|
Office
|
|||
| 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 | |
One Response to “Central Pattana property developer is looking Asia-wide”
Trackbacks/Pingbacks
[...] Central Pattana property CPN is the leading developer, manager and investor of retail and commercial properties in Thailand. In operation for more than 25 years, CPN today owns and manages 10 premium shopping centers, five office buildings and two residential. Thailand Investment Property Thai culture has always been greatly influenced by China and India giving an exotic blend for which The Kingdom of Thailand has become famous. Thailand property is fast becoming the desire of overseas property buyers is accessible. Thailand Property Being a developing country, the cost of property in Thailand is much lower than in the more developed European markets. But, on the other hand, prices for Thai property, in general, are rising at a much faster rate. [...]