SET-listed retail and property developer Central Pattana Plc (CPN) will have a joint venture with one of its subsidiaries Grand Canal Land Plc (GLAND) to develop a mixed-use project on a 48-rai plot on Phahon Yothin Road.
Ponpinit Upathamp, CPN's acting chief financial officer, said the 48-rai plot was the largest owned by GLAND through one of its subsidiaries, Bayswater Co. The joint venture will be 50:50 between CPN and GLAND.
"We will develop a mixed-use project with residential and commercial components. Each will take five years to start construction," he said. "We are in the design process and evaluating an investment budget."
