Central Pattana (CPN), a prominent player in the real estate sector, has been honored with the "Best Public Company of the Year 2024" award in the real estate category by Money & Banking magazine. This accolade marks a significant milestone for CPN, highlighting its exceptional earnings performance over the past year.
Key Takeaways
- Award: Best Public Company of the Year 2024 in the real estate category
- Presented by: Money & Banking magazine
- Recipient: Wallaya Chirathivat, President and CEO of CPN
- Presenter: Sethaput Suthiwartnarueput, Governor of the Bank of Thailand
- Earnings: 46.7 billion baht in 2023
- Future Plans: 121 billion baht investment from 2024-2028
Award Ceremony
The award was presented to Wallaya Chirathivat, President and CEO of CPN, by Sethaput Suthiwartnarueput, Governor of the Bank of Thailand, during the Money & Banking Awards 2024 ceremony. This is the first time CPN has received this prestigious award, which is given to listed companies with the best earnings performance in their respective sectors.
Business Performance
CPN’s business performance throughout 2023 was marked by several achievements, the most notable being its considerable earnings of 46.7 billion baht. This financial success enabled the company to offer the highest dividend since its inception. Additionally, CPN has been recognized internationally, being listed in the 2024 Fortune Southeast Asia 500 and ranking No.1 among Thai real estate companies.
Sustainability Achievements
CPN has also made significant strides in sustainability. The company has been included in the Dow Jones Sustainability Indices in the real estate management category, based on a top 1% S&P Global Score out of 299 companies globally. This recognition underscores CPN’s commitment to sustainable growth and development.
Future Investment Plans
Looking ahead, CPN has outlined an ambitious five-year investment plan from 2024 to 2028, totaling 121 billion baht. This plan includes the development of projects in both main and secondary cities across Thailand. In 2023, CPN opened two mixed-use projects: Central Nakhon Sawan and Central Nakhon Pathom, valued at 5.8 billion baht and 8.2 billion baht, respectively.
Upcoming Projects
In 2024, CPN plans to open Central Krabi, valued at 4.5 billion baht, and has development plans for five mega projects in super-prime locations around Bangkok. These projects are part of CPN’s vision of "Imagining better futures for all," aimed at improving the quality of life for people and communities while ensuring economic growth.
Employment and Community Impact
CPN currently employs more than 120,000 people nationwide. With each new project, thousands of additional employees are hired, with over 80% being local residents from the project’s vicinity. This approach not only supports local economies but also fosters community development.
CPN’s recent achievements and future plans underscore its commitment to growth, sustainability, and community development, positioning it as a leader in the real estate sector.
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