CPN to open more malls in Asean
Central Pattana sets sights to open more shopping malls in Asean, after the opening of the first branch - called CentralPlaza i-City - in Malaysia.
"Over the next five years, we expect to open more shopping malls in Asean countries, each under a budget of at least Bt4-Bt5 billion," said Wallaya Chirathivat, senior executive vice president for Business Development and Construction for CPN.
The Bt5.8 billion shopping mall in Malaysia marks the Thai companyâ€™s first step into the Asean market. The mall is slated for opening in 2014.
"Entering an overseas market is a challenge for CPN. We see opportunities in overseas markets, particularly in Asean, thanks to the Asean Economic Community (AEC). As a single market, the aggregated Asean market will have high economic circulation and purchasing power, which are positive factors for the retail industry. CPN is interested in countries where there is high city growth, a large population, and expanding groups of middle and high-income consumers. We are focusing on promoting organisational growth with aggressive strategies."