By Inside Retail Asia
Thailand’s largest mall operator Central Pattana says it plans to invest US$3.7 billion over the next five years in upgrading its properties and constructing new shopping centres, hotels and office facilities.
In a statement, the company did not indicate whether the investment is a fresh commitment or includes projects already announced. Nor did it detail where new developments are planned or outline what share of the budget would be allocated to retail rather than its other business divisions.
A subsidiary of Thailand’s giant Central Group, Central Pattana ‘s commitment follows a similar announcement by its sister Central Retail earlier this month to invest $3.03 billion during the next five years on network expansion, aiming to boost revenue by 2.5 times.
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