Mr. Phum Jirathiwat, Head of Hotels and Alternative Investments at Central Pattana Public Company Limited, revealed that Mega Bangna, a joint venture equally owned by Central Pattana and Ikano Center—part of the same group as IKEA in Thailand—is moving forward with its largest expansion since opening 14 years ago, with an investment budget of 6 billion baht to add 170,000 square meters of retail space.
Additionally, 1,750 parking spaces will be added. The expansion is expected to be completed by the third quarter of 2028, increasing Mega Bangna's total project area to 800,000 square meters—more than half of the planned mixed-use development covering over 325 rai.
This development plan is part of “Mega City,” envisioned as a large mixed-use project in Bangkok's eastern side, covering over 1.3 million square meters—larger than CentralWorld, which has more than 830,000 square meters—and is projected to have a total project value of around 70 billion baht upon completion in 2040.
Mr. Arnaud Bucker, Director of Market Strategy and Real Estate Development at Ikano Center, stated that the group has a long-term investment perspective in Thailand and does not rush to develop the entire project at once, but rather gradually adds components aligned with market timing and consumer demand.
“Mega City will grow gradually according to plan, not built all at once. We have studied consumer data and behavior over many years and are confident this is the right time to start phase 2 development.”
Mega City is a large mixed-use project with Mega Bangna as its core. After phase 2 development, about 140-150 rai of land will remain, to be gradually developed into mixed-use facilities including office buildings, hotels, residences, and health centers. The project will be open to partnerships with specialists to strengthen and complete the development.
This investment is not only focused on expanding retail space but also aims to lay the foundation for the long-term growth of eastern Bangkok by creating an ecosystem that connects living, working, and community life.
Mr. Phum said the long-term Mega City development plan through 2040 goes beyond adding retail space; it is about structuring to support future lifestyles, emphasizing trends in health, family, pets, and education.
“We are not merely increasing the number of stores but building an ecosystem that meets the lifestyle needs of people in Bangna for decades ahead, allowing Mega City to grow alongside the expansion of eastern Bangkok and its connection to the country’s key economic zones,” Mr. Phum stated.
Both executives expressed confidence in Bangna's potential, which has a population exceeding 3 million and is among Bangkok's highest purchasing power areas. Its strategic location links Suvarnabhumi Airport and the Eastern Economic Corridor (EEC), positioning it to become the new economic center of eastern Bangkok.
Currently, Mega Bangna serves an average of 165,000 visitors daily, has a 100% occupancy rate, and has welcomed over 670 million visitors in 14 years. After the new expansion phase completes, it will feature over 1,200 stores and brands, up from the current 900.