SET-listed retail and property developer Central Pattana Plc (CPN) plans to invest 120 billion baht from 2022-2026 to expand its business.
About 70% of the investment will be used to expand CPN's retail business, with mixed-use development projects making up more than half of such projects, according to Wallaya Chirathivat, the company's president and chief executive.
The remaining 30% will be geared towards residential projects, hotels and office buildings.
By 2026, CPN aims to increase its shopping centres in Thailand and overseas to 50, up from the current 36.
Ms Wallaya said the community mall is the format the company is interested in and studying, adding that the company is also eyeing two or three retail projects in Vietnam.
According to Ms Wallaya, CPN plans to launch 45 new residential projects, with a total of 68 projects by 2026.
This year the company plans to develop five new residential projects worth 3 billion baht, comprising one single-detached house project with a price range of 4-12 million baht, and four condominiums through a joint venture with Robinson with a unit price range of 1.6-2 million baht.
Ms Wallaya said CPN will also develop 35 new hotel projects, bringing the total to 37 branches by 2026. A new hotel brand will be launched, which will help turn cities into tourist destinations.
Currently there are two hotel projects under CPN -- Hilton Pattaya and Centara Udon Thani.
Moreover, the company plans to open three new office buildings, raising the total to 13 by 2026.
With the expansion, the company aims to boost its revenue by 10-15% per year during 2022-2026 and create 150,000 new jobs.
For retail projects, it opened the second phase of Central Village last month and it will open a new one in Chanthaburi province on May 26, 2022.
"CPN will never stop investing no matter what crisis we've faced because we invest for the long term," Ms Wallaya said. "We may revise our business plan in the short term to make it in line with the situation at that time."
In a related development, CPN yesterday also revealed a new brand identity for both its corporate and shopping centres across the country, based on local pride and modernity.
"Throughout our history of over 40 years, we have always been proud to be part of the lives of the people and to be able to grow with the country and drive its development,'' Ms Wallaya said.
A "business & digital transformation" team has been formed with an investment budget of 450 million baht for this year, and the aim of transforming the platforms into an omnichannel which will not only connect offline and online elements, but also all businesses in the ecosystem to each other and the customers under a B2B2C model, providing a new customer experience.
CPN will set up a team of "partner champions" to act as business consultants to partners, and to provide them with complete end-to-end solutions: growth assistance; brand expansion via co-investment, funding and franchising; and business operation support.
"With this new vision, we strive to follow our commitment and create a strong and sustainable ecosystem for the people and the planet," Ms Wallaya said. "We have a long-term plan to achieve net-zero carbon emissions by reducing energy use by 50%, reducing the emission of CFCs and other substances which can harm the atmosphere, and increasing the use of clean energy by 50%."
