Central Land Development: The Force Behind Turning Real Estate into New Destinations

"Retail business" and "real estate" around the world constantly face challenging business issues, including rapidly changing consumer behaviors, rising project development costs, and market competition shifting from focusing solely on "selling products" to "delivering experiences," which has become key to winning over today's consumers. Amid these waves of change and challenges,

the Central Group has made another significant strategic move through the role of Central Land Development, or Central Land, an entity considered the "brain" behind the group's real estate development, tasked with discovering and creating new opportunities from its vast land bank scattered throughout the country. With 11 projects in prime locations, Central Land is a crucial gear responsible for managing land and real estate projects in Central Group’s diverse portfolio outside the scope of Central Pattana (CPN) and Central Retail (CRC). Currently, it manages 11 projects, including city-center landmarks and business districts such as Jewelry Trade Center, Central Silom Tower, Platform Wongwian Yai, China World, Huamak Center, Marketplace Wongsawang, Silom House, and Tops Market Place Udomsuk. It also oversees destination projects in tourist and creative areas like Porto de Phuket, Jing Jai Market in Chiang Mai, and Central The Original Store, as well as many other high-potential real estate and land parcels nationwide.

Central Land’s activities go beyond asset management; they reinterpret each land's potential to develop spaces that meet lifestyle needs and sustainably deliver future consumer experiences.

Investing 730 million baht to launch two new projects,

recently, the group allocated over 730 million baht to launch two new community mall projects: "POP Phuket" in Cherng Talay and "Tops Wongamat" in Wongamat, Pattaya. These aim to create a lifestyle ecosystem that elevates premium living experiences, targeting affluent customers and expatriates, with openings planned for 2026.

Pong Sakuntanak, CEO of Central Land and Development at Central Group,

revealed that Central Group currently holds a large amount of land in Bangkok, Phuket, Chiang Mai, Khon Kaen, and other major cities nationwide. Some parcels are already utilized by affiliates, while many remain under assessment to find the "most suitable potential" for development.

Central Land and Development manages over 100 land parcels ranging from 10 rai to large plots of 300–400 rai, such as in Rangsit and even Khlong 4. The key team philosophy is not to rush development but to select the "best use" for each location.

Deep dive into POP Phuket, a new playful destination in central Cherng Talay, Phuket remains a strategic focus, especially the west-side Cherng Talay area, where expatriates account for 80% of residents alongside high-quality tourists.

With an investment exceeding 300 million baht on a total gross building area of 5,490 sqm, POP Phuket is developed under the concept of a Playful Destination to support the rapid growth of Cherng Talay subdistrict in Thalang district, now a golden location with over 20,000 luxury residential units and an annual growth rate of 18.8%.

This investment reflects Central Group’s confidence in Thailand’s long-term tourism growth despite short-term volatility. Phuket remains a key global destination with over 14.1 million tourists annually, generating tourism revenue around 540–550 billion baht per year.

"We develop POP Phuket as more than just a commercial space but as a 'Life Ecosystem.' The project allocates over 60% of space to food and beverage zones, including restaurants, cafes, and supermarkets both Thai and international. It includes a fine food Tops supermarket and flagship restaurants such as Aquila, Campus Coffee Roasters, and Spice House. The remaining 40% is designed as a vibrant mix of premium tenants and lifestyle services like specialty spas and beauty salons."

POP Phuket is the group’s second community mall in Cherng Talay, following Porto de Phuket which opened in 2019. The group plans to develop Porto de Phuket’s second phase to expand the area,

expecting to attract over 1 million visitors annually, with about 80% foreign customers and 20% Thai, aiming to open by 2026.

Tops Wongamat elevates Pattaya’s lifestyle

Located in Wongamat, Pattaya — a prime area surrounded by 4-5 star hotels and luxury condominiums — attracting about 19–22 million tourists annually and generating tourism economic value around 220 billion baht per year.

Tops Wongamat involves an investment of more than 430 million baht, developed as a Premium Neighborhood Lifestyle Mall on a 4,711 sqm gross building area site in Wongamat.

Pong added that Tops Wongamat is a collaboration between Central Group and Centara Hotel. Central Group recognizes the location’s potential as the site of Centara Grand Mirage Beach Resort Pattaya.

Tops Wongamat is developed as a single-story neighborhood lifestyle open mall, with 80% allocated to restaurants and cafes both Thai and international, plus a supermarket. The other 20% is a curated mix of premium shops and lifestyle services like specialty spas and beauty salons.

With a commitment to making these two projects central to living and community connections in prime areas, Central Group is confident that

POP Phuket and

Tops Wongamat

will become new destinations for high-potential tourists. Maximizing land value through development Pong revealed Central Land’s distinctive approach compared to typical developers: rather than starting with "what to build," they start with "what this land should be" to maximize value both commercially and in connection with Central Group’s ecosystem. "Some projects may be developed independently, some in partnership, and others may integrate various Central Group units to create a shared ecosystem — including hotels, retail, lifestyle, or other related businesses — without limiting to any one company within the group." A clear example of this philosophy is Central Festival Phuket, which began with a similar team development approach and later grew to connect with other projects, becoming a key Phuket landmark today.

When asked about changing consumer behaviors, the executive noted that current consumer behavior is changing more rapidly, especially among younger generations who prefer speed, smaller stores, personalized experiences, and uniqueness over traditional largeness. Restaurants clearly reflect this shift — from focusing solely on taste to now emphasizing design, atmosphere, service, and memorable experiences.

On another note, the luxury trend remains an important future opportunity. Despite global changes, many consumers still value premium brands and experiences, which will be a key component of upcoming projects. Regarding plans over the next three years, Pong emphasized Central Land does not fixate on large investment figures but focuses on business opportunities. When suitable projects arise, they are ready to decide and proceed quickly, benefiting from being a non-listed company with faster, more flexible decision-making than public companies. Ultimately, what is interesting is not just what Central Group will develop next but the "mindset" behind these developments. In a time when retail and real estate cannot compete only by space or size, the winner will not be the one with the most land but the one who can transform land into experiences and ecosystems that people want to return to again and again.

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