Of the total, B30 billion baht will be used to expand local operations and B10 billion for investment abroad, mainly in Europe.
Funds will come from cash flow, bank loans and other financial alternatives, the company says.
The group is in talks to acquire a luxury department store in Europe that is more than 60 years old, deputy chief executive Prin Chirathivat said on February 23, adding that a deal could be settled this year.
The executive did not disclose the new investment destination for Central in Europe but mentioned that France and Britain were in the business pipeline, as both countries are popular tourist destinations.
Central already owns the Rinascente department store in Milan, which it acquired in 2011 for 260 million euros (about B11 billion at that time).
“We’ll continue investing and expanding in Europe even though the economy there is not good, because the investment costs will probably be lower,” Mr Prin said.
“Whenever the economy goes down, the number of tourists will increase and eventually benefit us,” he pointed out.
Apart from plans to buy another European luxury department store, the group is interested in acquiring another electrical appliance chain in Vietnam to strengthen its presence in that country, where the group has already opened two Robinson Department Stores and bought Vietnamese appliance chain Nguyen Kim through its Power Buy subsidiary.
Chief executive Tos Chirathivat said Central would also open a new La Rinascente in the heart of Rome in 2017 and reintroduce Illum Department Store, now under renovation, in Copenhagen this year.
The group is also expanding its hotel business in Europe, with a focus on top tourist destinations such as London and Paris.
It may also close its Central Department Store in Chendu, China, where, it is felt, competition is too difficult.
At home, Mr Tos said the group would open new shopping malls and lifestyle centres in Bangkok, Nonthaburi, Rayong, Buri Ram and Mae Sot.
Central will add nine new hotels with a combined 1,800 rooms in Thailand and abroad, in addition to opening 300 new food outlets.
“This will be a challenging year for us due to greater uncertainty from the international political and foreign affairs situation,” Mr Tos said.
But he said he expects an improvement in the retail market this year thanks to growing tourism and domestic stability in addition to increasing border trade.
Central has already branched out into border provinces such as Chiang Rai, which is a gateway to China with links to Laos and Myanmar.
Chiang Rai boasts potential to become the northern region’s next major trade hub, while Mukdahan is well placed for outreach to Savannakhet province in Laos, part of Thailand’s east-west economic route for which logistical infrastructure is already in place.
Udon Thani is responding to demand from Laotian consumers as well.
“We’re setting out an aggressive plan to attract customers from Laos, Myanmar, Cambodia and Malaysia to use our services this year,” Mr Tos said.
Apart from retail sales at brick-and-mortar stores, Central has diversified into online retail sales.
The online shopping platform has been well received by shoppers, Mr Tos said.
He anticipates sales of B287 billion this year, up 14.8 per cent from last year’s B250 billion, which itself was a 6.6 per cent rise from 2013.