A sluggish local economy, geopolitical conflict and inflation aren’t enough to discourage Central Pattana from its goal of becoming a leading developer. The firm built a substantial budget for residential projects, office buildings and hotels with all three designed to complement its expansive retail business which includes some of Thailand’s most popular shopping centers.
As part of its five-year strategy, Central Pattana has set aside THB120 billion to invest in mixed-use developments and revamp existing projects across the country. This will include 50 new retail complexes.
However, the developer needed to adjust some of its plans to accommodate for current challenges and prepare for potential uncertainties. According to Central Pattana, this allowed it to increase efficiency of cost management and maintain liquidity.
“Despite the strong recovery, the outlook remains challenging as slow economic growth, tourism recovery hit by the Russia-Ukraine war, and rising inflation and interest rates are expected to curtail the recovery momentum,” Khun Naparat Sriwanvit, CPN Chief Financial Officer, told the Bangkok Post. “Hence, the company continues to put utmost importance on managing and adapting its business strategies according to changing circumstances, focus on effective cost management and maintaining the robust capital structure.”
Ayutthaya’s tallest tower among unique projects from Central Pattana
Central Pattana’s most notable project is Escent Ville Ayutthaya which was announced last year. The development is situated next to the recently opened Central Ayutthaya shopping center and will be the tallest high-rise condo in Ayutthaya once completed. CPN sees it being an ideal residence for the province’s upscale local buyers along with the region’s Japanese expat community.
Escent Ville Ayutthaya contains a total of 396 units with these coming in one- and two-bedroom varieties. Prices start at THB1.9 million. The condominium will be the first in the city to boast complete rooftop facilities.
Keep Reading: CPN to launch the tallest condo in Ayutthaya and 5 other residential projects in 2022
