SET-listed Central Pattana Plc (CPN), a Thai real estate developer, has partnered with Mitsubishi Estate, a Japanese real estate developer, to announce a new mixed-use project, "Central Central", which is scheduled to open its retail space in 2027.
Valued at over 11 billion baht, the project will cover a 7-rai site at the Pathumwan intersection, part of the Siam Square area. The development will comprise retail, office space and a hotel, according to the company.
The retail area is set to open in the second quarter of 2027, followed by office space in the fourth quarter of the same year and the hotel in the first quarter of 2029.
According to CPN, the total gross building area will be about 141,000 square metres, comprising 69,000 sq m for retail, 43,000 sq m for office space and 29,000 sq m for the hotel.
Chanavat Uahwatanasakul, president and chief executive of CPN, said every global metropolis has a district that acts as a centre for young people and creative culture. For Bangkok, the company believes it is Siam Square.
For more than six decades, Siam Square has shaped Bangkok's cultural landscape, providing a space where generations have had the confidence to think, create and express themselves.
"Today, Central Pattana is committed to advancing Siam Square as a 'Global Youth Culture Destination', where young people, creators, entrepreneurs and visitors from around the world can live, work, visit and grow together," he said.
The project is a joint investment between Central Pattana and Mitsubishi Estate.
"This is good news for Thailand. After reports that some Japanese companies have scaled back their presence in the country, this investment reflects that Japanese businesses remain confident in Thailand and Bangkok," he said.
Masanori Iwase, senior executive officer of Mitsubishi Estate Co Ltd, said the company hopes to leverage its global expertise in urban development to help shape the future of this district and create lasting value for Bangkok and future generations.
Central Central is being developed under the concept of "Young. Bold. Global." The company plans to provide a platform for art exhibitions and various creative economy initiatives, according to Nattakit Tangpoonsinthana, chief marketing officer of CPN.
The project will mark the debut of the 25hours Hotel, offering 349 rooms, alongside a 12-storey office building.
Isareit Chirathivat, head of Leasing at CPN, said the project will feature both local and global brands, targeting over 300 brands to position Central Central as Bangkok's first emerging brands platform.
Juthatham Chirathivat, head of Business & Design Development of CPN, added that the project will include over 3,400 sq m of social public space to promote youth co-creation and support students from all institutions. A highlight is Social Theatre, a public gathering space for arts, performances and creative activities.
