Sri Racha project bolsters CPN's presence in the East

Asia's Tech News Daily
Sri Racha project bolsters CPN's presence in the East

Mrs Phattaraporn (left) and Mr Nattakit announce the launch of Central Sri Racha.

SET-listed property and retail developer, Central Pattana Plc, is strengthening its retail empire in the eastern region with the launch next week of its new project in Sri Racha, a bustling district in Chon Buri, one of the three provinces within the government's flagship Eastern Economic Corridor (EEC).

Nattakit Tangpoonsinthana, the company’s executive vice-president of marketing, said the company is scheduled to hold the grand opening of Central Sri Racha, valued at 4.2 billion baht, on Oct 27.

Central Sri Racha is a key part of the company’s move to tap into key economic cities. It is built on a 27-rai plot of land that will include a Central shopping complex, a hotel, a residence and a convention hall.

“Central Sri Racha aims to create a business district at the heart of Sri Racha, a city hub for transportation and the hub of the EEC. We are determined to develop a new landmark for the city, offering something new and never seen before to the region,” Mr Nattakit said.

Central Sri Racha has a total space of 140,000 square metres with a gross leasable area of 45,980 sq m. It is the fifth retail complex under CPN in the eastern region and the fourth complex in Chon Buri province. The opening of this new mixed-use project will strengthen its retail business in the East, boosting its total gross leasable area to reach 345,020 sq m, the group’s second largest retail area after Bangkok.

“Sri Racha has a bright potential and is expected to continue growing due to the rising investments in the EEC which are set by the government to reach 2.2 trillion baht over the next five years,” he said. “People there have high spending power.”

With the pandemic, Mr Nattakit said Central Sri Racha has been designed to be a “smart & healthy building” innovation with an upgraded air-conditioning and filtration system to provide the cleanest indoor air circulation.

High-efficiency minimum efficiency reporting value (MERV) filters and ultraviolet C (UVC) lamps will be installed which can help reduce germs in the air-conditioning system by 95%. It is also an eco-friendly mall and the first of its kind in the eastern region.

Phattaraporn Phenpraphat, the firm’s head of commercialisation, said Central Sri Racha aims to become the no.1 destination and fulfil an urban lifestyle for the people there. It provides Tops Market, a premium supermarket with a glasshouse design, a number of top fashion brands and over 30 renowned restaurants along with other services including banks, a Cineplex movie theatre, a kids playground and education centre.

It has created new zones where everyone can enjoy shopping including Playhouse and Design House, which cater to the lifestyles of fashionistas and people who love home decoration, respectively. The firm expects 20,000-30,000 visitors per day.

“The shopping sentiment at our retail complexes has started to turn around with 70-75% of customer traffic returning to our retail in Bangkok and 100% in some upcountry locations,” Mr Nattakit said.

“The retail situation will be better following the easing of restrictions on MICE [meetings, incentive travel, conventions and exhibitions], allowing more events to be launched to stimulate shopping sentiment and spending,” he said.

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