Central Pattana Plc (CPN) is included in the 2024 Fortune Southeast Asia 500, which represents the 500 largest companies in Southeast Asia by revenue, organised for the first time in the region by Fortune magazine.
CPN reported revenue of 46.8 billion baht for 2023, ranking No.1 among Thai real estate companies included in the Fortune Southeast Asia 500 list.
"Central Pattana has grown steadily for 44 years by investing in all types of real estate projects under the strategic model of 'the Ecosystem for All'," said Wallaya Chirathivat, president and chief executive.
"Our shopping centres are our core business that link to residential projects, hotels and office buildings nationwide. We have placed our focus on laying the foundations to support the growth of the country in all aspects.
"We are greatly honoured to be listed in the 2024 Fortune Southeast Asia 500. We are proud to play a significant role in the region through our continued investment both domestically and abroad, including Central i-City in Malaysia."
At the beginning of 2024, CPN launched two mixed-use projects: Central Nakhon Sawan, with a project value of 5.8 billion baht; and Central Nakhon Pathom, with a project value of 8.2 billion.
Looking ahead to 2025, Ms Wallaya said the company is preparing to open Central Krabi, with a project value of 4.5 billion baht, in addition to five mega-projects in prime locations around Bangkok, covering a total project area of more than 2.2 million square metres.
CPN has long-term investments as part of its five-year plan from 2024-2028 that comprises a total investment of 121 billion baht.
The company expects to be operating 42 shopping centres, 17 community malls, 43 residential projects, 10 hotels and 10 office building projects as of Dec 31, 2024.
CPN is ranked 220th on the Fortune list of the largest companies in Southeast Asia, showcasing Thailand's pride and potential on the international stage.
She said the company wants to develop spaces to improve the quality of life for people and communities, while focusing on the environment and ensuring economic growth in Thailand.
The combined businesses of CPN employ more than 120,000 people nationwide. With each new project expansion, thousands of additional people are hired, and, on average, more than 80% of them are local residents, said Ms Wallaya.
The company continues to pursue its sustainability plan and is progressing towards the net zero 2050 goal, in collaboration with all stakeholders in 'The Ecosystem for All', she said.