Bangkok--2 May--Central Pattana
- Aiming rapid growth with strategy to explore new areas with high potential before others
- Introducing world-class “Theme Mall” concept for the first time
Central Pattana Public Company Limited (CPN) today announced its next step as industry leader that drives Thailand’s economy by investing in two big projects, CentralFestival Samui and CentralPlaza Salaya, with total investment value of over THB 7 billion on two of the best locations in Thailand. Samui is Thailand’s world-famous travel destination, while Salaya is a high potential location of western Bangkok. The new shopping malls will come in a new “Theme Mall” concept, in a bid to add value to the new shopping malls and to differentiate them from others. The new shopping malls will become places for recreational activities where customers will be happy spending time.
Mr. Kobchai Chirathivat, President & CEO of CPN, said, “Each step CPN takes is a great and important step. This time, we see business opportunities that will contribute to the growth of the company in Thailand’s two best locations. These two locations have high growth potential and support the city’s expansion. Furthermore, people in those areas have high purchasing power. We believe the investment will lead to rapid growth. It is CPN’s strategy to be the first to open a shopping mall in an important area. In addition, CPN is introducing a new mall format to differentiate our shopping malls from others. In the future, all CPN’s shopping malls will come in different themes to offer customers new experiences and more satisfaction.”
The development of the CentralFestival Samui project is an important move for CPN because Samui is a world-famous beach destination of Thailand that has high growth potential. CentralFestival Samui will help boost Samui’s economy, which has a growing trend every year. The majority of tourists are from European countries, Australia, Russia, and China, who have high purchasing power. The property market in Samui is also expanding, particularly resorts for both Thai and foreign tourists. There are also condominium projects with a starting price of THB 1 million and luxury villa projects priced at more than THB 60 million.
CentralFestival Samui’s project value is around THB 3.1 billion. It is located on the best location of Chaweng Beach, which is one of the most popular tourist destinations and a major economic zone of Samui. There are many leading hotels in the area. The project is only 5 minutes from the airport and 20 minutes from the port. Located on a land plot measuring more than 37 rai with total space of 90,000 square meters, the project will be CPN’s first themed shopping mall in the concept of ‘Reminiscence of a Southern Lifestyle’. The shopping mall will be in a resort style, which is suitable for Samui, as a world-famous tourist destination. Customers will feel relaxed while shopping at CentralFestival Samui. The shopping mall will become a new landmark of Samui. Its strength is that the project is developed according to world-class standards. Furthermore, the shopping mall will offer a wide range of products and services that respond to all customer needs.
CentralFestival Samui will feature a Central Department store, Tops, PowerBuy, SuperSport, and B2S. The shopping mall will feature 200 leading Thai and international brands and a night bazaar. The shopping mall will become a new dining destination that offers a wide range of cuisines. Furthermore, it will be equipped with entertainment options, including theaters, and become a venue for events at a national level. The shopping mall is expected to be opened in the first quarter of 2014. CPN believes the shopping mall will help promote Samui’s tourism industry and attract more than 35,000 customers a day.
Meanwhile, the CentralPlaza Salaya project value is around THB 3.9 billion. Located on a plot of 70 rai with total space of 180,000 square meters, the project is situated on Baromratchachonnani Road, which has ten lanes, in the Salaya area, around Phutthamonthon Sai 5 Road and Phutthamonthon Sai 7 Road. CentralPlaza Salaya will support the growth of Bangkok and the west side of the greater Bangkok area, which has high population density. The zone is also a center of education and people of the new generation, who have high purchasing power. High growth is expected in the area thanks to the new economic development plan and expansion of infrastructure. In addition, the shopping mall will support customers from Nakhon Pathom. CentralPlaza Salaya will be the first botanic garden-themed shopping mall under the theme of “Contemporary Botanical,” which comes with horizontal and vertical decorations of a variety of flowers, particularly orchids, throughout the mall. The shopping mall will have an outdoor atmosphere, making customers feel like they are shopping in a garden. CentralPlaza Salaya is expected to be opened in July 2014 and attract over 60,000 customers per day.
Ms. Yuwadee Chirathivat, President of Central Department Store, added that “Central Department Store will select the best products and services for these 2 new projects to respond to the different needs of customers. The Sumui branch will cover space around 8,000 square meters. The design concept of this branch will be distinctive, lively and relaxing to correspond to the world-class resort style of the shopping mall. The target group of this branch will be foreign tourists as well as Thai tourists and local people. While the Salaya branch will cover space around 24,000 square meters on 4 floors. The target group will be young family, office workers and teenagers. The project is in high growth potential location with A+, A and B+ residential projects around the area. The project also surrounded with leading college and universities like Mahidol University and Rajamangala University of Technology.
CPN expects to see economic and consumption growth in Thailand due to several positive factors as well as the signs of growth in retail industry. CPN has business expansion plans every year, with investment worth more than THB 10 billion each year, in a bid to strengthen company’s growth. It is expected that revenues will increase 15% year-on-year.