Two Central Projects Put In a State Of Uncertainty
Central Group of Companies will holdup its investment plan to build two new shopping complexes in Chiang Rai and Chiang Mai because of financial uncertainties, says Prin Chirathivat, executive director for finance. Under the innovative plan, Central Pattana Plc, its retail and property arm, would build up the Chiang Mai project at the same time as Central has not allotted any subordinate to handle the complex in Chiang Rai.
“Although construction expenses at present are inexpensive than in the past because of a decrease in raw material prices, the company is not sure that it should risk beginning construction at the moment for the reason that consumer purchasing power does not appear to be recovering,” a CPN executive said.
In Chiang Mai, the second Central Plaza would be constructed on the superhighway next to Doi Saket Road. Construction would begin by the end of 2009 on 70 rai of land.
The project would have total space of 250,000 square meters and remaining commercial area of 100,000 sq m. It would be the biggest lifestyle retail complex in the North, featuring a Central Department Store, Tops Market, Power purchase, Super Sports, a fitness centre and over 200 retail shops.
The interior and exterior would attribute a “'modern Lanna”' de{aac}cor theme based on the artistic tradition of the North. It would produce 4,000 jobs.
In Chiang Rai, the low-rise mall costing approximately 1-2 billion baht would be developed close to Big C Supercenter, on 30-40 rai of land. The size of its recent project is less significant than the one that would be constructed in Khon Kaen however both have Robinson Department Store as the main commentator.
“Although construction expenses at present are inexpensive than in the past because of a decrease in raw material prices, the company is not sure that it should risk beginning construction at the moment for the reason that consumer purchasing power does not appear to be recovering,” a CPN executive said.
In Chiang Mai, the second Central Plaza would be constructed on the superhighway next to Doi Saket Road. Construction would begin by the end of 2009 on 70 rai of land.
The project would have total space of 250,000 square meters and remaining commercial area of 100,000 sq m. It would be the biggest lifestyle retail complex in the North, featuring a Central Department Store, Tops Market, Power purchase, Super Sports, a fitness centre and over 200 retail shops.
The interior and exterior would attribute a “'modern Lanna”' de{aac}cor theme based on the artistic tradition of the North. It would produce 4,000 jobs.
In Chiang Rai, the low-rise mall costing approximately 1-2 billion baht would be developed close to Big C Supercenter, on 30-40 rai of land. The size of its recent project is less significant than the one that would be constructed in Khon Kaen however both have Robinson Department Store as the main commentator.
Labels: central plaza, consumer purchasing power, low rise mall
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