New Central Shopping Plaza for Chiang Mai
Thailand’s leading shopping-complex developer Central Pattana (CPN) have confirmed that the new Central Festival Chiang Mai shopping plaza will go ahead.
The site of new shopping centre was cleared last year ready for construction to begin, however Central Pattana announced earlier this year that the plan had been temporarily placed on hold due to a perceived downturn in consumer spending and an increase in the cost of building materials.
The site is at least 50 rai and is at the junction between the Super Highway 11 and the Doi Saket Road (Highway 118), the project will feature a modern Lanna style and will be the biggest shopping complex in Northern Thailand, though it’s going to be more than two years till it opens it’s doors.
Central Pattana (CPN) had posted a 23% year on year growth with revenue of Bt2.7 billion in the first quarter of this year, the company had plans to develop new shopping centers around Thailand and also to renovate some of the older ones.
It’s not immediately clear what the future will hold for the Kad Suan Kaew shopping centre which has been home to a Central department store in Chiang Mai for many years, it’s officially the largest shopping centre in Chiang Mai, it includes a hotel, bowling alley and a cinema. Most importantly for many British expats in Chiang Mai it also houses a branch of Marks & Spencer.
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