CENTRAL Pattana Plc (CPN), Thailand’s largest retail property developer, has announced a five-year strategy (2018-2022) to spearhead the future trends in the retail industry through ‘Co-Create Centre of Life’ with three strategies: 1) Co-Creating Destination Concepts, 2) Co-Creating Digital Platforms and 3) Co-Creating Partnerships.
CPN also announced a 5-year plan, investing around Bt100 billion to emphasise its position as a global player, with five projects in Thailand and overseas: The New Central World, Central Phuket, Central I-City, CentralPlaza Ayutthaya and Central Village. It will also modify all of its shopping centers to become ‘centres of life’ - communities and destinations where everyone can spend time in their own way.
Preecha Ekkunagul, president and CEO of CPN said: “In the era of digital disruption, the only way to survive is to adapt. CPN sees this change as a challenge and opportunity that will allow us to create and innovate new things again similar to what we have done over the past 38 years. With the evolving market, we would like to create a new chapter of the retail industry. Our new vision for the next five years is to ‘Co-Create Centre of Life,’ making CPN’s shopping centres as destinations for all. The important pieces of the jigsaw are our business partners and tenants who will co-create these new things for business success and sustainable growth through three main strategies: 1) Co-Creating Destination Concepts, 2) Co-Creating Digital Platforms and 3) Co-Creating Partnerships.”
Preecha added: “In addition, we will strengthen our businesses by investing Bt100 billion in the next five years in both domestic and international projects, to underline ourselves as a global player and set ‘The New Landscape’ for the Thai retail market. We will focus on five key projects that will reflect our ‘Co-Create Center of Life’ vision in the next two years:
The New CentralWorld will be a global must-visit destination, under the concept of ‘Central to Your World’, which will be launched in November 2018. This will clearly reflect our vision of ‘Co-Create Center of Life’ with a variety of destination concepts.
The creation of digital platforms and business initiatives with tenants will happen here first.
Central Phuket – a global must-visit destination catering for both uxury and leisure lifestyles of visitors with never-seen-before world class attractions: ‘Tribhum’ - the Mystery of Three Worlds’ theme park, which creates a 3D walkthrough adventure, ‘Aquaria’, which will be the largest aquarium in Thailand, and ‘Food Destination’ meeting all the needs of locals and tourists from around the world.
Central I-City – CPN’s first shopping center overseas, situated in a very high potential location near Kuala Lumpur, Malaysia. It is in a huge mixed-used project that the Malaysian government is turning into a perfect tourist destination.
CentralPlaza Ayutthaya – a new lifestyle destination in Ayutthaya that seamlessly blends the uniqueness and atmosphere of this World Heritage Site with modern society. This will become a tourism landmark for the province and a centre of life where people come to enjoy food, fashion, activities and relaxation. It will be a one-stop highway destination that will be open in December 2019.
Central Village –the first international luxury outlet in Thailand. It meets the lifestyle of the new generation. Outlets around the world are growing rapidly and have become ‘must visit’ destinations for tourists from all over the world and Central Village will be ‘a must-visit shopping destination to complete your trip.’