CPN aims for over 50 malls in 10 years

Central Pattana Plc (CPN), the SET-listed commercial property flagship of the Central Group of Companies, aims to increase the number of its shopping complexes to 40-50 within the next decade, from 19 by the end of this year.

CPN’s president and chief executive

Kobchai Chirathivat (centre), CPN’s president and chief executive, joins Wallaya Chirathivat (third right), the executive vice-president for business development and construction, and other Central Group executives at Central Plaza Chiang Rai.

President and CEO Kobchai Chirathivat said the company planned to spend 50-60 billion baht from now until 2015 to develop 10 new shopping complexes in both the domestic and international markets.

The new outlets to be opened in 2011 and 2012 include Phitsanulok, Rama IX in Bangkok, Surat Thani and Chiang Mai, while the company will also renovate its existing store in Udon Thani.

An industry source said CPN also planned to develop new shopping complexes in Rayong, Ubon Ratchathani and Lampang in the future. It has already bought a plot of land in Songkhla as well, said the source.

CPN celebrated its 30th anniversary last Wednesday.

“We have set our business objective for our fourth decade to be one of the leading mall developers in the region in terms of the number of shopping centres and size,” Mr Kobchai said.

He said the company would move at a faster pace than in the past by increasing gross building area by 15% every year, compared with 13% average annual growth over the past 10 years.

Continue reading on the Bangkok Post here

Leave a Comment

NOTE - You can use these HTML tags and attributes:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>