Retail/Central Pattana

Editorial staff

SET-listed Central Pattana Plc (CPN), the country's leading retail and property company, plans to invest 2 billion baht to open five new community malls and renovate its existing ones over the next five years.

Wuttikiat Techamongklapiwat, the company’s chief operating officer & head of community mall business, said that CPN plans to invest 2 billion baht to expand its community mall in the next five years.

In 2025, it plans to launch a new project, ‘Market Place Theprak,’ costly 300 million baht along with renovations of five other projects. In the following years, CPN will continue to expand at least one new project annually, focusing in Bangkok location. Under the plan, the number of Market Place community malls will reach 20 totally.

‘Market Place Theprak’ on the 15 rai plot land in the heart of the Theprak-Watcharapol, will be opened in January 2025 as the first phase of total plan to support the fast-growing residential community.

The project consists of a 5,800 square metres community mall, with 60 shops and an urban fresh market area of 1,500 square metres with 300 shops.

Surang Jirattigalachote, CPN’s executive project director, said that Market Place Theprak is the largest and latest community mall project. It located in the on Theprak Road, which is a point where a lot of people must pass through when driving home from the city. Customers can take only five-minute drive from Phahonyothin Road by private vehicle and only 10-15 minute drive from Vibhavadi Road when using the Chalong Rat Expressway or Watcharapol Road. Alternatively, using the BTS Skytrain (Green Line) from Sai Yud Station to Market Place Theprak, takes only seven minutes.

‘’We see business opportunities and demand from people in the area from various housing estates,’ she said.

Theprak is the fast-growing residential area with more than 174,000 residential units in the area with an increase rate of 2.4% per year. It has population of almost 400,000 people. The target groups are families, and customers with lifestyles that favor convenience.

Market Place Theprak comes with the new design of low-rise building in a cool and pleasant tropical-style atmosphere, along with space for everyone in the family, a ‘Pet Friendly’ zone and convenient parking space for more than 200 vehicles.

‘Market Place Theprak’ will bring together over 360 shops and restaurants across both the mall and market zones, including Tops Supermarket, health and beauty shops, and PetClub. Others are the fresh food, seafood, premium ingredients, and popular street food vendors.

“In addition to new stores, this year we will implement major rebranding by focusing on developing ‘Market Place’ as a core brand and ensure the more modern mood and tone of the brand by combining the theme of community mall and urban fresh market together to offer more convenience and a wider range of products and services,’’ Mr Wuttikiat said.

In addition, it will simultaneously renovate its existing five community malls next year such as Market Place J Avenue, Market Place La Villa, Market Place Nanglinchee and Market Place Pracha Uthit. Each requires an investment of 30-50 million baht.

Currently, there are 15 community malls under CPN with 200,000 square metres totally. Community mall is the key businesses that synergizes its ecosystem and strengthen CPN’s ecosystem and strengthens CPN, which expertises in space development, deliver experiences that meet customer needs through its shopping centres in each area.

‘’The community mall segment allows us to better fulfill fragmented demand more precisely, offering a modern, vibrant atmosphere with refreshed shops and services,’’ he said.