What: Central’s real estate arm is doubling down on the investment announced by the retail sister company earlier in February 2022.

Why it is important: Central Group goes all-in in terms of projected development over the next 5 years and the acceleration is quite significant.

Central Pattana, the largest Thai mall operator and a subsidiary of Central Group, plans to invest $3.7 bn over the next 5 years in order to both upgrade existing properties but also build new ones. This announcement, which does not precise if the announced amount includes already committed projects, follows Central Retail’s earlier announcement to be ready to invest $3.03 bn  during the next five years.

Central Pattana operates 36 shopping centres located in 30 Thai provinces. The plan is to expand to 50 centres by 2026.

Thailand’s largest mall operator plans a $3.7 bn investment programme in the next 5 years