Thai mall operator Central Pattana is set to invest 20 billion baht (US$541 million) into its new development in Bangkok’s CBD under the Central Park brand.
The development will consist of a shopping centre and office building. The shopping centre will span about 130,000sqm and is scheduled to open in the third quarter of 2025, following the opening of the office component in the second quarter.
“The shopping center will convey the essence of its beautiful and unique heritage as reflected in its architecture and interior design,” the company said.
Central Park is part of the $1.2 billion mixed-used project Dusit Central Park, which comprises a shopping centre, office building, hotel, and residences. The development is expected to attract 25 million visitors, including more than 10 million tourists annually.
“The project is a combination of ‘Legacy meets Luxury’, bringing together the expertise of [Central Pattana and Dusit Thani Group] to develop a luxury mixed-use project that offers Thailand’s ‘Hospitality Meets Retail’ experience on a global stage,” said Wallaya Chirathivat, president and CEO of Central Pattana.
“In developing the Central Park shopping centre, Central Pattana aims to create new horizons for Bangkok, similar to New York’s Central Park and London’s Hyde Park,” Chirathivat added.
As of the end of March, Central Pattana managed 39 shopping malls – including 37 under the Central banner, the Esplanade shopping centre and the joint venture-run Mega Bangna – along with 17 community malls, 33 food courts,10 office buildings, five hotels and 28 residential projects.
Last year, the Thai developer disclosed its ambitious retail expansion plans – including a commitment to build 50 “large retail projects” within five years.
