Latest news with #WallayaChirathivat
Bangkok Post
27-06-2025
- Business
- Bangkok Post
Central Pattana ranks No.1 in Fortune poll
Central Pattana (CPN) ranked No.1 in Thailand's real estate sector in the 2025 Fortune Southeast Asia 500, reaffirming its strong business growth and commitment to driving the economy. The country's leading retail and real estate developer was recognised for a second consecutive year in the regional rankings, backed by a record-high performance across all dimensions in 2024. This underscores the success of its retail-led mixed-use development strategy over the past 45 years, strengthening a diversified portfolio of shopping centres, residences, office buildings and hotels, said Wallaya Chirathivat, president and chief executive of CPN. In 2024, the company posted records with total revenue of 51.8 billion baht and net profit of 16.7 billion. Ms Wallaya said the ranking for a second consecutive year is a proud achievement for Thailand and a testament to the company's expanding presence on the international stage. "This recognition highlights the success of our retail-led mixed-use development strategy, which places shopping centres at the core -- connecting and strengthening our key business pillars: residences, offices and hotels -- with a clear focus on long-term sustainability and growth," she said. "This year marks the 45th anniversary of Central Pattana as a key driving force behind Thailand's growth. We remain committed to stimulating the economy, developing districts and cities, and driving progress to all corners of the country," she said. "Our efforts have contributed to job creation, income distribution and the development of prosperity, opportunity and a better future for all sectors -- while also reinforcing Thailand's role as an economic hub of Asean." With a five-year investment plan worth 120 billion baht spanning from 2025 to 2029, CPN aims to expand mixed-use projects and megaprojects nationwide -- enhancing urban potential, propelling Thailand's economy and elevating Bangkok to global city status. The company is set to unveil two landmark projects this year: Central Park, a flagship shopping centre; and Central Krabi, a major mixed-use development and the first prototype of a sustainable mall in a world-known tourist destination. Several other megaprojects across the country are also in the pipeline, she added. By the end of this year, CPN plans to operate 135 projects across all business units, including 30 mixed-use developments in 44 high-potential locations. In the ranking of the largest companies in the region, CPN was No.205 out of 500. According to Fortune's analysis, the number of female CEOs on the Southeast Asia 500 list has increased to 37 this year, up from 29 last year. This reflects a shifting leadership landscape in Southeast Asia -- a region playing an increasingly vital role in driving the global economy -- and highlights the growing opportunities for women in top executive roles, who will be a powerful force in shaping the region's economic and social future. Ms Wallaya has received numerous international awards and recognitions, including the prestigious CEO of the Year at the Retail Asia Awards 2024 -- the first Thai leader to receive this honour in the Asia region. Over the past 45 years, the company has contributed more than 5 billion baht to society and communities through infrastructure development, public spaces and educational opportunities.
Forbes
21-03-2025
- Business
- Forbes
Thai Billionaire Family's Central Pattana Earmarks $3.6 Billion To Build Offices, Malls
A Central Pattana shopping mall in Bangkok. Central Pattana Central Pattana—controlled by the Chirathivat family, among the wealthiest clans in Thailand—is spending 120 billion baht ($3.6 billion over the next five years to build new office buildings and shopping malls as the country seeks to bolster its status as a tourism hub. The company plans to develop a new commercial district in northern Bangkok as well as 30 mixed-use real estate projects across the country from now until 2029, the Bangkok-listed Central Pattana said. 'Central Pattana aims to elevate Bangkok and Thailand to greater global standards, and plans to invest in the development of mega projects, as well as other new projects nationwide,' President and CEO Wallaya Chirathivat said in a statement. Central Pattana—which operates Central World, the largest shopping mall in Thailand—is stepping up its expansion as the nation is set to allow casinos, a move that could further boost tourism, a key driver of the economy. The government is also seeking to bring marquee international events such as Formula One into the country. Among the company's mega projects is The Central, a new commercial business district in Phaholyothin in northern Bangkok. Set to open in late 2026, the mall will have 460,000 square meters of retail space to be occupied by more than 200 global brands. Central Group—which also holds interest in British retailer Selfridges—is led by Tos Chirathivat, grandson of the group's founder, Tiang Chirathivat. With a net worth of $9.9 billion, the family ranked No. 4 when Forbes Asia published the list of Thailand's 50 Richest in July 2024.
