Charoen Pokphand Group to build Pattaya mall
Thailand’s Charoen Pokphand Group is investing at least THB10 billion (US$327 million) to construct a large retail, commercial and residential complex at Pattaya.
Once completed, the more than 480,000sqm complex, which includes a Pattaya mall, hotel, cinemas and a convention centre, should serve to increase profits on a $7.3 billion rail line the firm is under contract to start building in 2024, which will connect three international airports near Bangkok and Pattaya.
The firm has broad discretion to determine the number and position of train stations on the new line, effectively giving it power to decide which areas will end up being developed along the line. That opens the door to co-locating a Pattaya mall with the new station, and residential and accommodation projects.
“CP is definitely investing,” said Pattaya’s mayor Sontaya Khunpluem on the group’s purchase of a large site in the city’s southern district.
“The group has won the high-speed railway deal, which would bring in millions of tourists and businessmen with strong purchasing power.”
The new rail line, built in partnership with China Railway Construction. will connect Bangkok’s Suvarnabhumi and Don Mueang airports with U-Tapao near Pattaya, a former air force base now being opened up for commercial use. The project is expected to help develop a sustainable tourism environment for Pattaya – a popular resort town since the days of the Vietnam War.