Thailand’s largest mall operator, Central Pattana Pcl, has announced that it will invest around USD 723 million by 2022 in new projects and store renovations. Thai Central Pattana will invest in new projects in Ayutthaya, Si Racha and Chanthaburi, developing malls, hotels and convention centers. The expansion will extend the company’s retail reach further outside Bangkok, in an effort to counter competition; recently, the Dusit Central Park joint venture project in Bangkok was announced by Dusit Thani Pcl.
Central Pattana owns and manages 32 premium shopping centers, 7 office buildings, 2 Hotels and 4 residential buildings. Its retail properties are operated under several brands, including CentralPlaza (24 malls), CentralFestival (six malls), CentralWorld (one mall), and CentralMarina (one mall). In August 2019, the company opened a THB 5 billion (USD 156 million) international luxury outlet mall called Central Village near Bangkok’s Suvarnabhumi International Airport.