Central joins srinakarin mall lineup

The Nation

Central Pattana (CPN) will spend at least Bt1 billion to open a 50,000-square-metre shopping mall on Srinakarin Road next year that promises shoppers a new concept, both in design and layout.

CPN's entry will intensify the competition among shopping centres in the Srinakarin area.

MBK, operator of MBK Centre in central Bangkok, in cooperation with Siam Piwat recently expanded its turf to the suburban area of Srinakarin with the takeover of Seri Centre from the Premier Group.

The local shopping-mall developer is forging ahead with its strategic plan.

"The current economic and political instabilities have no influence on our decision-making process, as most of our investment projects have been planned for the long-term," Wallaya Chirathivat, executive vice president for business development and construction management, said yesterday. CPN will launch Central Chaeng Wattana next month and Central Pattaya Festival next January. It plans Central Plazas in Chon Buri town and Khon Kaen next April and October, respectively. Another mall will be opened in Bangkok next year.

The strategic plan calls for expanding its shopping malls from 10 now to 15 next year and 18 in 2010. It also plans to open a shopping complex on Rama IX Road in 2011 and in Suan Lum Night Bazaar site near Lumpini Park by 2012.

Srinakarin is also a first for the company in developing a medium-sized shopping mall, with 50,000 square metres of gross retail space, including anchor areas, Wallaya said.

It is quite smaller than other shopping malls built by CPN such as Central Ram-Indra, Central Rattanathibet and Central Centre Pattaya, which have average gross retail space of about 100,000 square metres each, or its largest shopping centre CentralWorld, which has total retail space of 500,000 square metres.

The new medium-sized shopping mall on Srinakarin Road is set to fill the gap and will not overlap or share the catchment area of any existing complexes already developed by CPN.

CPN's strategy is to extend its mall development from mega-shopping complexes to smaller medium-sized centres that follow today's consumer behaviour and local retail regulations. The move is also aimed at grasping new business opportunities.