Thai shopping centre operator Central Pattana has announced plans for another four or five shopping malls to be completed by 2018.
The company says it has allocated THB30 billion (US$838 million) for the new properties – which it says are in addition to a raft of previously announced planned properties.
Central Pattana is the listed property development subsidiary of Central Group which owns shopping centres the length and breadth of Thailand and in Italy, Germany and China.
The new malls will be built in the capital city of Bangkok and in larger regional cities. It has already announced plans to build centres in Phuket, Nakhon Ratchasima and Nakhon Si Thammarat.
“CPN still aims for further expansion in major economic cities, as well as locations with potential business both in Thailand and neighbouring countries to demonstrate its sustainable growth,” said CFO Naparat Sriwanvit.
Besides its Thai plans, the company is proceeding with a Malaysian joint venture to open a shopping mall in Kuala Lumpur and it is conducting feasibility studies on entering Vietnam and Indonesia.
Parent Central already operates a Central Department Store in the Indonesian capital of Jakarta and the group has assets including a joint venture electronics chain and a department store in Vietnam.
CPN runs 26 shopping malls in Bangkok and in major provinces, including Hat Yai.