Central Pattana reports strong Q2/2024 results with total revenue of 13,483 million baht, up 21%, and net profit of 4,556 million baht, up 24% year-on-year.

• 10 new Residence projects, both horizontal and vertical, are set to open in 2024 with a total project value of 13,430 million baht. Delivering high-quality residential projects of all types.
• Showcasing commitment to sustainability at the green expo entitled ‘Better Futures Project 2024’, continue to move towards the goal of Net Zero 2050
• Demonstrating excellence in all aspects, by securing top honors, including the "2024 Fortune Southeast Asia 500," and three awards at the "Retail Asia Awards 2024,". The company has also been named the "Best Company of the Year" at the "Money & Banking Awards 2024" and has won awards at the "BCI Asia Awards 2024".
• Reaffirming its status as a World-class Landmark for every festival, highlighting the success of 'Thailand’s Songkran Festival 2024,' which was vibrantly celebrated across all regions, and 'Thailand’s Pride Celebration 2024: Pride for All,' grandly held from north to south.

Bangkok: Central Pattana plc. reported strong continuous growth in its second quarter of 2024, with total revenue reaching 13,483 million baht, a 21% increase, and net profit of 4,556 million baht, a 24% increase year-on-year. In 2024, the company is set to launch 10 new Residence projects, encompassing both horizontal and vertical developments in prime locations across the country, with a combined project value of 13,430 million baht. Most recently, ESCENT Bangna was launched, just 500 meters from Central Bangna mixed-use project. Central Pattana is also driving its sustainability initiatives and strategies, strengthening its entire business system while caring for communities, society, and the environment under the "The Ecosystem for All" model, a system where everyone and every party grows together strongly and sustainably.

Ms. Naparat Sriwanvit, Chief Financial Officer and Senior Executive Vice President, Finance, Accounting and Risk Management for Central Pattana plc, said: “2Q24, private consumption in Thailand continued to be driven by the tourism sector together with relatively more positive outlook on exports than the previous quarter. The number of international tourists visiting Thailand reached approximately 17.5 million in the first half of the year, according to the Tourism Authority of Thailand. The full year is projected to see 35-36 million tourist arrivals. The company's strong second-quarter performance was attributed to its mixed-use development strategy, which is a key strength. This is evident in the increased rental income from Central Westville, Central Nakhon Sawan, and Central Nakhon Pathom, as well as residential business’ transfers which almost doubled from the same period last year. In the second quarter of 2024, the company recorded a total revenue of 13,483 million baht, a 21% increase year-on-year, and a net profit of 4,556 million baht, a 24% increase year-on-year.”

Following the launch of ESCENT condominiums in Nakhon Sawan and Nakhon Pathom in the first quarter to cater to a more complete lifestyle, and with simultaneous sales launch and mall opening in the second quarter, both projects achieved over 90% and 100% sales respectively. These two projects were key drivers of the company's high residential sales rate during this quarter. Most recently, the company launched ESCENT BANGNA, located approximately 500 meters from Central Bangna, in mid-June.

Furthermore, the company reinforces its position as a global player by expanding its 'The Ecosystem for All' business model internationally. This is evident in the successful 5th anniversary celebration of Central i-City, Central Pattana's Thai shopping center in Malaysia, in April. As a pioneer in creating world-class lifestyle destinations, Central i-City has driven growth for both Thai and Malaysian partners in the western economic region of Kuala Lumpur. 

In addition, the company has laid out a long-term investment plan, aiming to create a groundbreaking development project, 'The World’s New Magnitude.' With five mixed-use projects, totaling over 2.2 million square meters. The first project, Dusit Central Park, will enhance urban living with close proximity to green spaces in the heart of the city. This September, the new Dusit Thani Hotel will debut, followed by the opening of the Central Park office tower and shopping center in 2025.

Central Pattana is moving forward to build a strong business system under the 'The Ecosystem for All' model, while simultaneously caring for society and the environment. This encompasses both People (community and society) and Planet (environment) dimensions through various projects, including:

• The Better Futures Project 2024, in collaboration with Bangkok Metropolitan Administration and public and private sector partners, continues to organize events to promote sustainability. The project aims to create an accessible exhibition that raises public awareness and inspires everyone to recognize the importance of environmental care. All sectors are invited to join in and show their love for the planet through various activities, from educational exhibitions highlighting environmental crises to eco-lifestyle activities organized with partner brands. This year, a roadshow was held at various Central shopping centers, including centralwOrld, Central Westville, Central Khon Kaen, Central Hat Yai, Central Chiang Mai, and Central Sriracha.
• As the leading Festive Landmark Destination, Central Pattana celebrates the success of 'Thailand’s Songkran Festival 2024,' a World Phenomenon that attracted 10 million participants nationwide, establishing Thailand's Songkran as a true Global Festival. Additionally, the company hosted the grand 'Thailand’s Pride Celebration 2024: Pride for All,' with Pride Landmarks across the country from north to south, attracting both locals and tourists. This reinforces Central Pattana's role as The Pioneer of Equality, an organization committed to diversity and inclusion, creating a creative space for everyone in society.

Central Pattana reaffirms its position as Thailand's leading real estate company, as evidenced by its numerous awards. The company has been ranked among the largest companies in Southeast Asia in the 2024 Fortune Southeast Asia 500. Additionally, our CEO received the prestigious "CEO of the Year" award at the Retail Asia Awards 2024, and centralwOrld won both the "Mall of the Year" and "Marketing Initiative of the Year" awards at the same event. The company was also named the "Best Company of the Year 2024" at the Money & Banking Awards 2024 for its exceptional performance in the real estate development sector, as recognized by Money & Banking Magazine. Moreover, Central Pattana has been named one of the "Top 10 Developers" in Asia for the fourth consecutive year, with its outstanding projects including the mixed-use developments Central Nakhon Sawan and Central Nakhon Pathom, as well as the residential project Baan Nirada Rama 2.

As of the end of the second quarter of 2024, Central Pattana has a total of 42 shopping centers under its management (40 Central shopping centers - 16 located in Bangkok and its vicinity, 23 in other provinces and 1 in Malaysia; 1 Esplanade shopping center; and 1 Mega Bangna shopping center under a joint venture), 17 community malls, with a total net lettable area of 2.3 million square meters. Additionally, the company manages 36 food courts, 10 office buildings, 9 hotels, and 37 residential projects, comprising condominiums under the ESCENT, ESCENT VILLE, ESCENT PARK VILLE, PHYLL, and BELLE GRAND RAMA 9 brands, and horizontal developments under the ESCENT TOWN (townhouses), ESCENT AVENUE (home offices), NINYA (semi-detached houses), NIYAM (luxury single-house) brands, as well as various horizontal projects under the NIRATI and BAAN NIRADA brands.