Mall’s well in the northeast: Central Pattana pours 3 billion baht into booming secondary cities
Central Pattana Plc (CPN), the retail and property developer and operator of Central shopping centres across Thailand, declared plans to invest 3 billion baht in the development of secondary cities within the northeastern provinces of Nakhon Phanom and Nong Khai. The aim is to enhance these cities’ potential to rival megacities.
Tos Chirathivat, Central Group’s executive chairman and chief executive, explained that one of the group’s core strategies as a leader in the retail, service, and real estate sectors is business expansion through community upliftment.
“We aim to develop local communities in the country based on the principle of ‘Growth for the Country, Great for Local Communities.'”
According to Tos, the primary focus of this strategy is to transform potential locations into notable tourist destinations. The plan includes connecting key tourist spots and transforming them into local lifestyle hubs, thus boosting tourism in secondary cities.
Tos revealed that a 2 billion baht retail development, Robinson Lifestyle in Nakhon Phanom, is set to open in the fourth quarter of next year. Located in Nakhon Phanom’s Mueang district, an economic development zone near the Laos border, the mall is in a prime spot for overland transport to Vietnam and southern China via the third Thai-Lao Friendship Bridge.
“The development of the mall plays an essential part in increasing Nakhon Phanom’s potential to be a trendy city in Isan that will capture the hearts of tourists with its hipster style.”
Tos added that Nakhon Phanom is prepared to serve as an economic, tourist, and transportation hub, connecting neighbouring nations and southern China.
Promising Investments
Tos shared that Nakhon Phanom currently attracts approximately 1.5 million tourists annually, generating over 2.2 billion baht in annual tourism revenue.
The Central Group also plans to open a Robinson Lifestyle in Nong Khai province next year. A 1 billion baht investment is earmarked for the project. Tos added that Nong Khai is a special economic development zone and is just across the border from Vientiane, the capital of Laos, and Bolikhamxay province.
“Nong Khai has the highest value of Thai-Laos border trade in Thailand, at no less than 80 billion baht per year. The province attracts over 2 million tourists per year and boasts a tourism revenue of over 3.35 billion baht.”
He concluded that Central Pattana’s investments in both provinces will contribute to economic growth, as well as enhance trade, investment, services and tourism in the Greater Mekong Subregion countries, which include Thailand, Myanmar, Laos, Cambodia, Vietnam and China reported Bangkok Post.
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