Thailand’s leading retail and property developer, Central Pattana Plc (CPN), has unveiled Central Nakhon Sawan as a new northern hub through a mixed-use development initiative valued at 5.8 billion baht, aiming to attract over 25,000 visitors daily.
CPN’s Chief Marketing Officer, Nattakit Tangpoonsinthana, mentioned that this innovative mixed-use venture is designed to establish Nakhon Sawan as Thailand’s next prominent economic city.
Central Nakhon Sawan, the 41st shopping center by CPN, boasts a total gross building area of 133,300 square meters.
Covering 42 rai, the site features a 4,000-square-meter area dedicated to multiple generations for family activities, fitness enthusiasts, and the youth. It also includes the Escent Nakhon Sawan condominium, offering 442 units soon available for pre-sale.
The comprehensive development plan potentially includes the addition of a Centara or Centara One hotel and a Synphaet hospital, expected to be completed within the next 1-2 years.
The total investment in the project, excluding the hospital, amounts to 5.8 billion baht.
Nattakit highlighted that this project marks the first time integrating a hospital into one of their mixed-use developments.
“The project is designed to blend lifestyle and shopping mall elements together to enhance the community experience”, he said.
Central Nakhon Sawan showcases a diverse range of products from over 200 brands, targeting affluent consumers, especially multi-generational Thai-Chinese families in Nakhon Sawan.
In 2021, Nakhon Sawan achieved a GDP of over 109 billion baht, ranking it third among Northern provinces in terms of economic output, behind Chiang Mai and Kamphaeng Phet.
The city has been identified as one of the 10 secondary cities targeted by the government and the Thai Chamber of Commerce for development into major urban centers.
The strategy also includes five additional nearby provinces: Uthai Thani, Chai Nat, Phichit, Lop Buri, and Kamphaeng Phet, which collectively house a population of 1.57 million.
Weekends are expected to have a visitor composition of 60% local residents, with the remainder coming from surrounding areas.
Despite a rebound in international tourism, Nattakit observed that foreign tourists are more likely to visit the mall primarily during significant festivals, such as the Chinese New Year.
The company has allocated approximately 60 million baht annually for marketing, sales, and event activities, including a special 12-day promotional event to mark the opening.
Nattakit remains optimistic about retail prospects in the first half of the year, noting that middle-to-high income groups continue to show strong spending capacity.
The post-pandemic recovery has led to sales boosts in cities like Phuket and Pattaya, attributed to affluent tourists.
To date, CPN has launched four malls in secondary cities, including Nakhon Sawan, as part of its strategy to adopt mixed-use developments in both these and major tourist destinations.
Plans are in place to launch Central Nakhon Pathom in March of this year, followed by Central Krabi in the first quarter of 2025.
