Thai Retail Real Estate Giant Sets up Subsidiary in Vietnam
- 148
- Business
- 00:20 22/02/2024
DNHN - The move to establish a subsidiary in Vietnam comes after Central Pattana revealed plans for heavy investment over the next decade, with Vietnam being one of the target locations.

After signalling its intention to invest in Vietnam almost a year ago, Central Pattana has now taken its first step in the S-shaped country.
Specifically, Central Pattana - a member of the Central Group - has just established a subsidiary in Vietnam operating in the field of real estate consulting and management.
In early February, Central Pattana - a member of the Central Group - notified the Stock Exchange of Thailand (SET) of establishing a subsidiary. Accordingly, the group has established CPN Global Company Limited in Vietnam, with CPN Global holding 100% of the shares.
CPN Global Company Limited Vietnam is headquartered in Phu Nhuan District, Ho Chi Minh City, with Pandit Mongkolkul as the legal representative and General Director, and has been operating since 15 December 2023. Its main business activities are real estate consulting, brokerage, auction, and auction of land use rights.
Central Pattana is Thailand’s largest retail real estate developer. The company was first listed on the Stock Exchange of Thailand in 1995.
Central Retail operates more than 340 retail stores in 40 provinces and cities in Vietnam, including 77 grocery retail stores, of which 38 are GO! hypermarkets and 39 are supermarkets. In addition, this giant is also involved in the food, fashion, home electronics, and real estate sectors in Vietnam.
Central Pattana’s long-term strategy is to develop its own branded shopping malls in high-potential locations. The longer-term goal is to expand overseas, initially to neighbouring countries, by developing innovative shopping malls.
The move to establish a subsidiary in Vietnam comes after Central Pattana revealed plans for heavy investment over the next decade, with Vietnam being one of the target locations.
In March 2023, Central Pattana CEO Wallaya Chirathivat said that the company would invest in mega projects over 5 to 10 years, with each project covering more than 350,000 m2 and an investment of more than 20 billion Baht (approximately 14,000 billion VND) per project.
Vietnam and Malaysia are among the destinations targeted by Central Pattana due to their cultural similarities, consumer behaviour, and the existing foundation of the Central Group’s retail system.
“Vietnam is an important market that we want to tap into, although there are many regulations that we have to overcome. Hopefully, we will have something to announce about Vietnam by the middle of this year,” said Wallaya Chirathivat.
Phuong Anh
Related news
- Dong Thap Business Club in Ho Chi Minh City launches support fund to accompany enterprises
- Women entrepreneurs in the Era of National Advancement
- The move of a Chinese businesswoman into Vietnam’s snack market
- The Đại Dũng Group: A 30-Year journey of developing a sustainable value chain
- Rediscovering connection – a journey of discovery at LAMORI
- ShopeeFood and Grab dominate Vietnam’s food delivery market
- The ambitions of major enterprises in 2025
- Rice export prices expected to rebound soon due to limited supply
- Attracting investment in renewable energy – Driving the green economy
- Who are the two mysterious female tycoons holding 52 million HQC shares?
- GDP growth target for 2025: Aiming for a breakthrough pace
- “Green treasure” in the heart of the Mekong Delta
- Việt Nam sets import tariff quotas for salt and poultry eggs in 2025
- Brandnew e-commerce law to address policy gaps
- Bến Tre sets ambitious economic goals in 2025
- Chopin: The magical piano – Touching the heart and emotions of the audience
- The collaboration between Green power and Huawei: A major step in developing a 100MWp solar energy project
- VITA VINA: Where dreams of vocational study abroad take flight
- Green Power and Green Carbon Group sign cooperation agreement for development
- “Imposing high taxes on short-term real estate purchases reduces market liquidity”
Đọc thêm Business
Dong Thap Business Club in Ho Chi Minh City launches support fund to accompany enterprises
More than 150 Dong Thap entrepreneurs in Ho Chi Minh City gathered at Van Hien University to foster business connections, expand cooperation, share practical experiences, and stay updated on current business trends.
Khai Hung corporation signs Strategic Cooperation Agreement with Japanese partners
Signing a cooperation agreement with reputable Japanese partners is a strategic move, demonstrating Khai Hung Corp’s proactive approach in capturing market trends, accessing advanced technology, and leveraging international expertise.
Women entrepreneurs in the Era of National Advancement
The economic forum "Women Entrepreneurs in the Era of National Advancement" aims to honor the role of female leaders, promote collaboration, and connect the business community.
Rice export prices expected to rebound soon due to limited supply
The Vietnam Food Association (VFA) has forecasted that rice exports in 2025 will reach 7.5 million tons. The rice market is currently at its lowest point, but it is anticipated that importers will soon ramp up purchases, driving prices upward.
GDP growth target for 2025: Aiming for a breakthrough pace
According to the proposal, Vietnam's national GDP growth target for 2025 must reach at least 8%, laying a solid foundation for achieving double-digit growth rates.
Economic expert Võ Trí Thành assessed: President Donald Trump’s new trade policy will impact Vietnam
According to Dr. Võ Trí Thành, Director of the Institute for Brand and Competitive Strategy Research, Donald Trump’s new trade policy will have significant effects on Vietnam’s economy. He also provides strategic recommendations for businesses.
Vietnam's market advantage: Investment opportunities in a new context
Balancing interests, striving for a 7.5% GDP growth, enhancing international cooperation, promoting technological innovation, and developing appropriate foreign policies are the "keys" for the nation and businesses to overcome challenges.
Việt Nam sets import tariff quotas for salt and poultry eggs in 2025
The Ministry of Industry and Trade has announced import tariff quotas for salt and poultry eggs for 2025, aiming to meet domestic production and consumption needs.
Brandnew e-commerce law to address policy gaps
The proposed law seeks to address gaps in existing regulations and keep pace with technological advancements and evolving business models.
Bến Tre sets ambitious economic goals in 2025
The southern province of Bến Tre eyes ambitious goals to develop its industrial sectors, increase investment, and improve the business environment.