Press Release - The announcement of new project: CentralWestGate
CPN shakes up retail industry with CentralWestGate, Asia's prototype of a "Super Regional Mall", at Bang Yai Intersection with investment value of over 10 billion Baht
- Transforming Bang Yai into a new city under the concept of "MetAsia," a center of Asia's Future Lifestyle aiming at driving Thailand to become "Regional Shopping Hub" to support huge purchasing power after the commencement of AEC
Bangkok, 29 January 2013- Central Pattana Public Company Limited (CPN), Thailand's leading retail property developer, today announced its new project that will start a new legend for retail industry - CentralWestGate. The project, to be developed on a budget of over 10 billion baht, will be Asia's best prototype of a "Super Regional Mall". Located at the Bang Yai Intersection, the project will promote Thailand as a "Regional Shopping Hub" to welcome the commencement of the ASEAN Economic Community (AEC) in 2015.
Ms. Wallaya Chirathivat, CPN's Senior Executive Vice President for Business Development, Design & Construction, "This is a major investment for CPN, which will promote Thailand as a retail leader in the region. With the project, Bangkok and Thailand will become a regional shopping hub, like other major cities of the world. CPN has chosen the Bang Yai Intersection as the project location. The area has high potential and is suitable to be a "new city", which will have soaring growth. Bang Yai will become Thailand's new Central Business District (CBD) and a new residential area, which corresponds with the government's city expansion policy.'
CPN is a growth-driven company and an important factor in the development and growth of Thailand and Thai society. The company's projects help boost Thailand's growth in many aspects. Particularly, they promote the national economy, increase Thailand's GDP, build growth in communities, create jobs, and lead to relevant investment in residential, real estate, and commercial projects.
The Bang Yai Intersection is Bangkok's "West Gate",or the biggest gateway of western Bangkok. Thanks to a complete transportation system and the government's "mega-projects", all routes will be connected, including the West Outer Ring Road. The Bang Yai Intersection is where the 12-lane Kanchanapisek Road and 10-lane Ratanathibet Road meet. The roads serve more than 85 million cars each year. The area is also connected with the western route of the motorway that links Bang Yai, Ban Pong, and Kanchanaburi, which will be constructed to welcome the implementation of the AEC, as well as the Dawei Port on the Andaman Sea, the third-stage expressway that connects the West Outer Ring Road and Chonburi Motorway, and the MRT Purple Line (Bang Yai-Bang Sue). The transportation network will support soaring purchasing power and heavier traffic after the commencement of the AEC. A skywalk will be constructed to connect the project with the transportation system. It is expected that there will be over 13 million people within 1.5-hour's distance in eight provinces, i.e. Bangkok, Nonthaburi, PathumThani, Ayutthaya, NakhonPathom, Suphanburi, Kanchanaburi, andRatchaburi. When the construction of the Third Outer Ring Road is completed, the shopping center will attract people from 15 provinces. In addition, the area will become a new residential area. It is expected that there will be more than 150,000 residential units around the area within five years.
Ms. Wallaya added that, "This project will be Asia's talk of the town at the introduction of the AEC in 2015, as the project is the best prototype of a "Super Regional Mall" in Asia. We will spend over 10 billion baht on the project. This project is not merely a shopping mall, but a "Center of Asia's Future Lifestyle". With total space of 500,000 square meters on a site of 100 rai, the project will be the best "mixed use" development project, under the concept of "MetAsia".
CentralWestGate is a combination of shopping mall, lifestyle complex, state-of-the-art entertainment complex, a world-class attraction, and a residential project. The project will comprisea total of 1,000 anchor stores and super-sized shops of both Thai and international brands, including world-famous fashion brands. It will be the new dining destination that combines restaurants to meet every preference. The project will open early in 2015. It is expected that the project will serve more than 200,000 customers each day.
CPN's latest brand "CentralWestGate" represents grandeur, reflecting the characteristics of the project as the best prototype of a "Super Regional Mall" in Asia. The brand also suits the position of the project as "Center of Asia's Future Lifestyle". In addition, "WestGate" refers to Bang Yai Intersection, the biggest gateway of western Bangkok, which is the project location.
