Central Pattana (CPN), a property arm of the Central Group and listed on the Stock Exchange of Thailand, has announced plans to launch nine new residential projects worth 16 billion baht in 2025. Among the developments is a high-end housing and condominium complex in Krabi, timed to coincide with the October opening of the new Central Krabi shopping mall.
The Krabi developments will be part of CPN’s third retail-led mixed-use initiative, combining residential and commercial elements within a shared location. The project includes Baan Ninya Krabi, a luxury single-detached housing development comprising 100 units, and Phyll Krabi, a condominium with starting prices from 4 million baht. The first ten homes at Baan Ninya Krabi, priced at an average of 18 million baht, are scheduled for launch in August.
CPN has acquired over 110 rai of land along Phetchkasem Road in Krabi’s Mueang district, with 40 rai designated for the new shopping centre and the remaining 70 rai allocated for housing. The company is positioning the properties to attract local entrepreneurs, Bangkok residents seeking holiday homes, retirees, foreign buyers, and digital nomads.
This marks the first time a SET-listed developer has launched residential projects in Krabi. CPN’s previous retail-residential ventures were in Nakhon Pathom and Phitsanulok, with over 20 similar projects completed elsewhere, primarily involving condominiums.
The company’s strategy follows a long-term plan to integrate residential properties with its retail portfolio. CPN has earmarked 12 billion baht—10% of its five-year investment budget of 120 billion baht—for residential developments, which includes land acquisition and construction.
This year’s launches include five projects in Bangkok—four single-detached housing developments and one condominium—along with one condominium each in Phuket and Chon Buri, in addition to the two Krabi projects.
As of the end of 2024, CPN reported a sales backlog of 5.75 billion baht, with 38% of that expected to be recognised in 2025. The company is targeting 7 billion baht in revenue this year, an increase from 6.2 billion in 2024.
Despite ambitions to expand rapidly, CPN executives acknowledge the current economic climate requires a cautious approach. Kree Dejchai, president of CPN Residence, noted that while the company intends to become one of Thailand’s top 10 residential developers, it is avoiding unnecessary risk and responding to slower demand for low-rise homes.
To promote its residential offerings, CPN is hosting a property event at CentralWorld from May 29 to June 1, showcasing homes across Bangkok and ten other provinces. Prices range from 1.39 million to 52 million baht, covering single detached houses, condominiums, and townhouses.
The company’s leadership, including Wallaya Chirathivat, president and CEO of CPN, and Kree Dejchai of CPN Residence, has emphasised the strategic integration of retail and residential assets as central to CPN’s long-term growth model.
