CPN announces its 30th shopping complex worth 3.5 billion baht, high-potential CentralPlaza Nakhonsithammarat ready for AEC
- Ideally located in a strategic location - CPN to be the first to capture the rising purchasing power in this major city of the South with high economic growth potential
- The new shopping complex will the first comprehensive lifestyle shopping destination of Nakhon Si Thammarat and will help enhance the province's greatness
Bangkok - 28 August 2014: Today Central Pattana Public Company Limited (CPN) announced the launch of its 30th shopping mall, CentralPlaza Nakhonsithammarat, which will help drive up CPN's growth momentum thanks to its strategic location in a major city with great growth potential in the Southern region. The new 3.5-billion-baht shopping mall project will span over 50 rais with a total gross floor area (GFA) of around 150,000 square metres. It is located on 403 Road near the Hua Thanon junction off Ratchadamnoen Road, which is known as the city's fast-growing district. The area has seen a drastic increase in new retail development and residential projects and it will likely continue to grow at a fast pace in the future. CPN's new project will be the province's first and most comprehensive lifestyle shopping complex, touting a world-class design based on the 'Shadow Play' concept. CPN's business partners from the Central Group will be opening a wide range of anchor stores led by Central Department Store. Customers will have all their needs met as many great brands will be available at this new shopping mall, in addition to some 250 retail shops - all ready to accommodate the massive purchasing power of the province that has the largest population in the South and has the potential for aggressive growth in the future.
Ms. Wallaya Chirathivat, CPN's Senior Executive Vice President of Business Development and Construction Management, said, 'CPN believes in Thailand's potential and will continue to invest in new developments, building on its vision as the leader in the country's retail development sector. We will take a proactive approach in expanding our business to maintain our growth momentum as we foresee great investment opportunities brought on by the launch of the ASEAN Economic Community (AEC). The regional economic integration will speed up trade, investment and tourism growth and we are ready to capture those opportunities before anyone else in this country. We have always been ahead of everyone else when it comes to acquiring land plots in prime locations in the country. We have great confidence in the growth potential of all the locations in which we have chosen to operate our business. We foresee the South to become a region with high growth potential and therefore started to develop new retail property projects in the region, including CentralPlaza Suratthani, CentralFestival Hatyai and CentralFestival Samui. Now, we would like to proudly present a new project in Nakhon Si Thammarat, which is seen as a strategic province of the South and also a major city with excellent potential to drive the region's economic growth. The province is also considered one of the country's economic, trade and investment hubs.'
Nakhon Si Thammarat has the largest population out of all the provinces in the South, with more than 1.5 million people residing in the province. The province's gross domestic product is valued at 155.862 billion baht. Nakhon Si Thammarat is also considered the gateway to trade and investment in the Southern region. It is ready to accommodate the AEC thanks to its status as the logistic hub of the South, which is part of the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT). The province's airport will soon become a 'customs airport' for the unloading of imported goods and the loading of export goods and a centre for distributing foods to other provinces as part of the Southern Region-Thung Song project. The provinces will have a logistics centre that will accommodate transport of goods via the railway in preparation for AEC integration. Nakhon Si Thammarat is also one of the country's major agricultural hubs as it has a thriving rubber industry. In addition, the province's tourism is growing at an impressive rate of 14%, with no less than 1.7 million tourists traveling through the province annually. Nakhon Si Thammarat is known to have a number of historical sites and popular natural tourist destinations, which are becoming more and more popular among both Thais and international tourists from countries like Malaysia. The tourism growth will help raise the average income of the residents in the province and boost local business growth. Moreover, over the years, the province has seen a dramatic increase in residential projects, thanks largely to the planned transport and logistics development projects that are also benefiting the city's economic growth and investment expansion. The average income of residents in the province has continued to rise while workers have started to flock to the province, resulting in increased demand for housing projects. Property projects by both the local and Bangkok developers have mushroomed over the years and will likely continue to grow at a rapid rate in the future, paving the way for new business opportunities in the province.
'CPN plans to build on Nakhon Si Thammarat's potential and help contribute to the province's aggressive growth. The new project will add a new dimension to Nakhon Si Thammarat and prepare the province for economic growth boosted by the launch of the AEC. The 3.5-billion-baht 'CentralPlaza Nakhonsithammarat' project will stand out thanks to its prime location on 403 Road near the Hua Thanon junction of Ratchadamnoen Road. The project spans over 50 rais with more than 150,000 square metres of gross floor area (GFA). CentralPlaza Nakhonsithammarat will be the province's first and most comprehensive lifestyle shopping complex and a new landmark touting a world-class design inspired by the South's famous 'Shadow Play'. Both CPN and Central Group are sparing no efforts to make CentralPlaza Nakhonsithammarat the best shopping destination, with a wide range of anchor stores. CPN conducted a study and found that local residents preferred to choose from a variety of brands. Therefore, Central Department Store is confident to open its branch here, offering a comprehensive range of products from leading brands to customers. Other anchor stores include Tops Market, PowerBuy, SuperSports, B2S and OfficeMate. In addition, some 250 retail shops will open at CentralPlaza Nakhonsithammarat, which will become the largest fashion hub in the province, offering many Thai and international fashion brands on more than 6,000 square metres of fashion space. The new shopping mall will also be a new hangout destination for young people and families, who will enjoy a wide range of restaurant choices and the best entertainment complex in the province. The entertainment complex will comprise 6 movie theatres with the latest technology and a family entertainment center with world-class standard. An outdoor area spanning 1,200 square metres located in front of the shopping complex will be able to host the province's major activities and events. Customers will be pleased with the spacious parking space that can accommodate more than 1,500 cars and 1,500 motorcycles.'
CentralPlaza Nakhonsithammarat's main target group are affluent consumers with high-purchasing power in Nakhon Si Thammarat and nearby provinces. Nakhon Si Thammarat people and those residing within the 120-kilometre radius of CentralPlaza Nakhonsithammarat or within a one hour's drive from the adjacent provinces, which are Trang and Phatthalung, total 2.69 million. CentralPlaza Nakhon Si Thammarat's main target groups are those belonging to the B+ segment. Construction of CentralPlaza Nakhonsithammarat will commence in September 2014 and the shopping mall is scheduled to open officially in the second quarter of 2016. When CentralPlaza Nakhonsithammarat opens, it is expected to bring in traffic of around 20,000 people per day.