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Central Pattana to spend B120bn on sustainable future

Central Pattana to spend B120bn on sustainable future

PHUKET: Central Pattana has announced it will invest B120 billion in the next five years to build a sustainable ecosystem and to reach a ‘net zero’ goal by 2050 under its ‘Imagining Better Futures for All’ initiative.

By The Phuket News

Friday 25 February 2022, 12:16PM

Central Pattana is the country’s leading retail and real estate developer and operator of Central shopping centers, residential projects, office buildings and hotels across the country.

The ‘Imagining Better Futures for All’ vision aims to “build a strong and sustainable ecosystem with a role of the ‘place maker’ who creates space of the future and pioneer cities and developments all over the country” said a release announcing the mega-project.

The “mission” is to take care of both the quality of life of the ‘people’, including communities, and the ‘planet’, said the release.

In real terms, the goal is to become Thailand’s first mixed-use developer to reach a net zero goal by 2050, the announcement confirmed.

Wallaya Chirathivat, President and CEO of Central Pattana and the first woman to lead the organisation, revealed her vision for the business earlier this week, announcing a “commitment for better futures” to develop quality of life for the people and better futures for the society and the planet

“Throughout our history of over 40 years, we have always been proud to be parts of the lives of the people and to be able to grow with the country and drive its development.  We are seen as the ‘Center of Life’ of the community wherever our project is situated,” said Ms Wallaya.

“Today, we see ourselves as the ‘place maker’ who develops quality of life for people across the country by creating a place where a better future is possible.  We intend to do this by connecting the two most important elements, which are the people and the planet, and integrate them into our strong and sustainable ecosystem, as we believe that through their community everyone has the power to drive societal change,” she added.

“With this new vision, we strive to follow our commitment and create a strong and sustainable ecosystem for the people and the planet.  We are a place maker who will provide space for all aspects of life with high quality, aiming for better and more sustainable futures for the Thai people and the country,” said Ms Wallaya.

The company has been helping to generate a circulation of money in the Thai economy of about 1% of Thailand’s GDP.  The initiative will also help income generation for the next five years with over 150,000 jobs in its “sustainable ecosystem”, said the announcement.

“The company has a long-term plan to achieve net zero carbon emission. It will be done by reducing energy use by 50%, reducing the emission of CFCs and other substances which can harm the atmosphere, and increasing the use of clean energy by 50%.  It also aims to soon have one million trees and plants indoor and outdoor in its projects,” the announcement added.

Ms Wallaya explained that the initiative relies on several key strategies, as follows:

Strategy No.1: SYNERGY for New Solutions

All parties join forces to create a complete platform to upgrade quality of life and business.

1.1 Synergy within Retail-Led Mixed-Used Development

All elements of Central Pattana, including shopping centers, residential projects, office buildings and hotels, will join forces to deliver a seamless experience.  In the next five years or in 2022-2026, the company will have 50 shopping centers in Thailand and overseas, 16 community malls (under the feasibility study), 68 residential projects, 13 office buildings, and 37 hotels, spanning across over 30 provinces and overseas.  

More than half of these are parts of mixed-use development projects, of which the shopping centers will be the key component while consistently expanding other businesses, as well.  All will help raise the quality of life in various aspects, such as shopping, working, staying, playing and living.  Retail projects will fulfill all formats and trends.  Residential projects of high quality will offer special benefits from the Central Group to the residents.  Office buildings will be some of the best workplaces with close proximity to shopping centers and hotels.  Lastly, a new hotel brand will be launched, which will help turn cities into tourist destinations. 

A team of ‘Business & Digital Transformation’ has been formed under an investment budget of B450 million in 2022 and an aim to transform the platforms into an omnichannel which will not only connect offline and online elements but also all businesses in the ecosystem to each other and the customers under a B2B2C model, providing a new customer experience.

1.2 Synergy with Business Partners

Central Pattana is committed to generating a sustainable growth for its business partners.  It will set up a team of ‘Partner Champions’ to act as business consultants to partners and to provide them with complete end-to-end solutions, ranging from growth assistance; brand expansion via co-investment, funding and franchising; and business operation supports. 

In addition, Central Pattana will use the big data from The 1, The 1 Biz and the retail omnichannel to promote and drive the businesses of its partners, help them manage their transactions and provide other services.

1.3 Synergy with Communities

All projects developed by Central Pattana will be based on the local identity and essence of the community.  They will promote the local art and culture, generate local wealth, help distribute income at the community level, act as a platform to elevate capabilities of SMEs, promote cross-regional tourism, and provide more than 40,000 square meters of space each year worth 300 million baht per year as space for farmers and other people to sell their products and services.

Strategy No.2: PIONEER for Better Lives

Central Pattana will create a new standard for better living space in the future.  It will improve management at every new project to focus on two areas to ensure sustainability in the lives of all involved.

The two aspects of this stratgey are:

Green & Energy

Buildings will use the Green Building Standard to ensure higher environmental friendliness.  Solar cell systems will be installed at all projects, a building automation system will be developed, while EV charging stations and recycling stations will be provided to support clean energy and circular economy.

Health & Wellness

As proper physical space can enhance quality of life, the company will focus on developing its master plan and measures for hygiene and safety.  It will increase green space indoor and outdoor.  Inclusive design will be used to ensure it can cater to all groups of people as well as the community.  For example, there will be exercising areas, playgrounds, learning centers, vaccination centers, blood donation areas, and well-being areas for the community.

Strategy No.3: OPPORTUNITIES with Purpose

The company will help drive the society and the business sector.  As an organization focusing on human development, it will provide opportunities for all individuals.  At the same time, it will strive to elevate the Thai real estate and retail industries for better futures for all.

  • It will encourage people to learn, exchange their experiences and business matching with a chance to expand their businesses in Thailand and overseas via Central Pattana Lead and Retail Academy.
  • It will generate local wealth, create job opportunities and elevate quality of lives for local.
  • It will support the young generations to work with Central Pattana via new initiative platforms such as Retail Hackathon which provide them real opportunities.
  • It will equally provide opportunities for LGBTQ+ people, people with disabilities, and special people while being a global citizen who understand global values such as human rights, equality and diversity.

“All these strategies are parts of the attempt to create a big impact on the economy, society, culture and environment, involving all generations of people,” the announcement concluded.

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