Central Pattana in expansion push
Thai mall developer Central Pattana plans to splurge on Southeast Asian expansions.
Central Pattana says an investment worth 15 billion baht (US$468 million) will be spent on three new shopping malls in Malaysia, Indonesia and Vietnam within the next five years.
“We see growth opportunities to invest in Southeast Asia as it become a single market,” said senior EVP for business development Wallaya Chirathivat.
Meanwhile, its home market will get three to five new malls a year with an investment of 12 to 15 billion baht (US$374 million to US$467 million). It says it is looking to operate 35 malls by 2016 from 23 by the end of the year.
Central Pattana is the retail property development and management arm of Central Group and operates malls under banners CentralPlaza, CentralWorld and CentralFestival.