Central Group Secures 30-Year Lease Extension with SRT

Photo courtesy of Bangkok Post

The State Railway of Thailand (SRT) has renewed its lease contract with Central Group's Central International Development for the 47-rai Phahon Yothin Triangle, home to the Central Ladprao shopping mall. The lease, valued at a minimum of 42 billion baht, extends for 30 years from December 19, 2028, to December 18, 2058, as confirmed by Songyasin Chonpatathip, acting managing director of SRT Asset (SRTA).

Currently set to expire on December 18, 2028, the lease extension focuses on enhancing the mall's infrastructure. Central International Development plans to invest in upgrading mechanical and electrical systems, including elevators and escalators. Additionally, they will strengthen the department store's structure to resist earthquakes, with an investment cost of approximately 4.5 billion baht over the next four years.

Songyasin emphasized that this renewal allows Central International Development to improve the project’s building quality, thereby boosting its long-term value. The forthcoming enhancements aim to elevate the mall's status and ensure compliance with modern safety standards.

The lease extension reflects a mutual commitment to fostering growth and sustainability in the retail sector. Experts suggest this move could stimulate further development in the area, attracting more visitors and retailers to Central Ladprao.

Looking forward, the focus will be on executing the renovation plans effectively, while maintaining a seamless experience for shoppers during construction. The upgraded facilities are expected to enhance customer experience and drive retail innovations within the mall, reported Bangkok Post.

Key Takeaways

• SRT extends the lease for Central Ladprao by 30 years from 2028.

• Central International Development to invest 4.5 billion baht in renovations.

• Upgrades will include earthquake-resistant structures and facility enhancements.

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Adapted by ASEAN Now from Bangkok Post 2026-01-27