Krungthep: Central Pattana plc has reported earnings for the third quarter of 2022 showing continued growth, with total earnings of 9.34 bn Baht, 83% increase YoY and 2% increase QoQ, and net profit of 2.87 bn Baht, 1,154% increase YoY and 4% increase QoQ. Central Pattana will continue to move forward with its five-year investment plan under the theme of retail-led mixed-use development nationwide, which comprises shopping centers, residential buildings, office buildings and hotels, with shopping centers as the core business. The investment plan includes 180 projects in more than 30 provinces across the country by 2026 as well as moving towards the goal of becoming Thailand's first real estate developer to achieve net zero by 2050, highlighting its vision of 'Imagining Better Futures for All' as the company strives to create a sustainable future for everyone and our planet.
Ms. Naparat Sriwanvit, Chief Financial Officer and Senior Executive Vice President, Finance, Accounting and Risk Management for Central Pattana plc, said: "Positive factors for our continued growth include the reopening of the country to welcome tourists and people returning to their normal life after the Covid-19 situation as people's spending has started to pick up. The government has also launched measures to support people and spur spending. In addition, earnings also benefitted from the opening of three new shopping centers: Central Si Racha, Central Ayutthaya and Central Chanthaburi as well as the acquisition of Siam Futures Development plc, which increases our leasable space by 13% when compared to last year; therefore, overall earnings in rentals and services have grown further. Moreover, the company also operates under a cost-effective approach in order to improve profitability."
"Central Pattana will continue with its five-year investment plan to develop projects under the theme of retail-led mixed-use development and has announced the launch of two new mixed-use projects: 'Central Nakhon Sawan' and 'Central Nakhon Pathom', with a total investment of 14 bn Baht, which will open in Q1/Q2 of 2024. Central Pattana expects that both projects will contribute to the establishment of the new cities and improve people's quality of life as well as taking its partners to grow further and expanding their branches in new locations throughout the country as planned. Centara Korat Hotel also opened as planned in September 2022 in a 10 bn Baht mixed-use project of Central Korat. The hotel is under investment and development of Central Pattana and is to be managed by Centara Hotels & Resorts as the company's third hotel. Centara Korat Hotel will be the best hotel in Korat with international standards, which will help pioneer the 'travel ecosystem' for Nakhon Ratchasima province to become the No.1 destination that meets the needs of both business and leisure travel in addition to long-stay and 'Workations', attracting tourists to stay longer. Central Korat and Centara Korat will help support Nakhon Ratchasima in becoming a 'MICE City' - the hub of MICE events in the region, thanks to a 3,200 sqm Convention Hall in the shopping center and the hotel's convention area of over 1,000 sqm, which can comfortably accommodate both national and international conferences. In addition, the mixed-use project also helps fulfil an urbanized lifestyle for the people of Korat, with the 'House of Kin' serving all-day-long buffets suitable for everyone in the family, plus a rooftop bar that offers a nice 360-degree view of the city.
Community Mall - to open 'Marche Thonglor' (formerly Market Place Thonglor) to meet the demand of people in Thonglor by early 2023.
Residential projects - already launched three ESCENT VILLE projects for sale in Surat Thani, Suphan Buri and Chachoengsao and three more new projects to be launched in the final quarter of this year including ESCENT VILLE condominium Trang and two low-rise detached houses: Nirati Chiangmai and Ninya Ratchapruek.
Central Pattana highlights its leadership as a real estate developer for sustainability, winning the 'Highly Commended in Sustainability' award from the SET Awards 2022 and listed in the Sustainable Stocks of Thailand Sustainability Investment (THSI) for eight consecutive years, while moving towards the goal of becoming Thailand's first real estate developer to achieve net zero by 2050. Central Pattana has joined hands with leading partners such as PTT Group under the on-ion brand and Evolt Technology Co., Ltd. to move forward with the mission for the environment by expanding EV Charging Stations to 37 Central shopping centers nationwide to contribute to a low-carbon society and promote a clean energy lifestyle. The company is also continuing with the 'One Million Trees Movement' - a reforestation for carbon offset program to reduce greenhouse gas emissions and support carbon offsets through reforestation to create balance for the global climate, with a goal to plant forest of 500-1,000 rai of land per year (within 10 years/from 2022-2032) or until reaching a total of 1 mn trees. The company is committed to the vision of 'Imagining Better Futures for All' and is ready to drive Thailand towards a better and sustainable future while caring for people, communities, society and the environment to ensure sustainable growth alongside us."
Central Pattana is currently managing 39 projects, which includes 37 Central shopping centers (15 in Bangkok and perimeter, 21 in provincial Thailand and one in Malaysia), an Esplanade shopping center and a Mega Bangna (under a joint venture) and 17 community malls, making a net total leasable area of 2.3 mn sqm. The company also manages 33 food courts, 10 office buildings, 3 hotels and 25 residential projects, which includes condominiums under the brands: ESCENT, ESCENT VILLE, ESCENT PARK VILLE, PHYLL and BELLE GRAND RAMA 9 and low-rise projects under the brands: ESCENT TOWN (townhomes), ESCENT AVENUE (Home Office), Ninya Kallapaphruek (semi-detached houses), Niyam Borommaratchachonnani (luxury detached houses) and a variety of low-rise projects under the brands: 'Nirati' in Chiang Rai, Bang Na and Don Mueang. In addition, the company has also co-invested with Dusit Thani plc in the large 'Dusit Central Park' project, which will open in stages from 2023-2024 onwards.
Central Pattana's five-year (2022-2026) business direction is to continue investing in the development of the new projects that have been announced and those yet to be announced. These include mixed-use development, residential projects and the renovation of existing assets to add value as well as managing expenses by reducing costs effectively to maintain financial liquidity and prepare for uncertain situations. The company will continue to study investment opportunities in other forms of business, acquisitions and overseas investments in Southeast Asia, such as Malaysia and Vietnam, as well as studying opportunities in new types of business with high growth potential in order to expand new revenue streams and to be aligned with the target growth achievement for a stable and sustainable future.