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.
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