Central Pattana Plc (CPN), a retail and real estate developer listed on the Stock Exchange of Thailand (SET), has injected 8.2 billion baht into Central Nakhon Pathom, marking it as the inaugural mixed-use development in the city.
CPN’s Chief Marketing Officer, Nattakit Tangpoonsinthana, emphasized the robust economic prospects of Nakhon Pathom. The city’s gross provincial product has reached 366 billion baht, witnessing steady annual growth. Notably, in 2023, it was ranked as the third-largest contributor in the central region and the seventh nationwide, based on data from the Trade Policy and Strategy Office.
Nakhon Pathom’s infrastructure is also under enhancement. Salaya, located in Nakhon Pathom, is set to be included as a station on the second phase of the SRT Light Red Line, a suburban railway network serving the greater Bangkok Metropolitan area. Additionally, to better connect Bangkok with the western region, the Bang Yai-Nakhon Pathom-Kanchanaburi motorway (M81) project has been initiated. The M81 is in progress and is anticipated to be fully operational by 2025, positioning the city as a pivotal economic gateway to the west, consequently bolstering the purchasing power of locals and extending its reach to new catchment zones in Ratchaburi and Kanchanaburi.
Mr. Nattakit highlighted that Nakhon Pathom is strategically positioned as a gateway to western and southern Thailand within the expanding Bangkok Metropolitan area, drawing in local residents and tourists en route to destinations like Cha-am or Hua Hin.
Central Nakhon Pathom, CPN’s 42nd shopping complex, is set to be unveiled with an investment outlay of 8.2 billion baht. Spanning over 100 rai of land with a gross building area exceeding 133,000 square meters, the project encompasses a shopping center, hotel, Escent condominiums, an urban park, and a single-detached house development branded as Baan Nirati.
Despite Thailand’s household debt-to-GDP ratio reaching 90.9% in the third quarter of 2023 and impacting consumer purchasing power, CPN remains optimistic about foot traffic at the new shopping center given the city’s high economic potential. Mr. Nattakit expressed confidence in the favorable purchasing power of customers within the middle to upper-income brackets.
The company targets a daily footfall of 25,000-30,000 visitors and foresees the project’s full completion within the coming five years.
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