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The group will pay Bt21.3 billion as the rental fees throughout the lease contract, aside from a Bt2.4 billion budget to renovate the properties.

The sublease of the commercial space would be handled by two listed subsidiaries - Central Plaza Hotel Plc and Central Pattana Plc.

Despite the long-awaited contract, both listed companies see a decline in share prices, though the Stock Exchangeof Thailand Index gained 3.27 points or 0.77 per cent to 427.06 points.

Central Plaza Hotel share price in the afternoon was at Bt3.10, down Bt0.02 or 0.64 per cent while Central Pattana was at Bt12.80, down Bt0.30 or 2.29 per cent.