Central Pattana Plc (CPN) reported a net profit of 4.12 billion baht on total earnings of 12.3 billion baht in the third quarter of 2024.
Naparat Sriwanvit, chief financial officer and senior executive vice-president for finance, accounting and risk management, said the company's performance was strong because of private sector consumption and the tourism recovery, as well as its continued mixed-use development.
She said the robust performance was attributed to increased leasable space and occupancy rates at three malls -- Central Westville, Nakhon Sawan and Nakhon Pathom -- as well as higher tenant revenue at these malls and improved hotel business performance.
In the third quarter, the company's new projects opened as scheduled, including the Hilton Garden Inn Rayong, located next to Central Rayong mall, which launched in August.
In September, Central Pattana opened two new condo projects: Escent Hatyai II, a luxury condo with complete facilities, and Escent Phuket.
The company is preparing to launch Market Place Theprak, conceived as a community mall combined with an urban fresh market, located in the heart of the Theparak-Watcharapol area in northern Bangkok.
CPN said it plans to ensure Central malls become sustainable and popular global destinations for happy celebrations.
"In January 2025, we will welcome people to grand Chinese New Year celebrations," said Ms Naparat.
"To stimulate the Thai economy and tourism during the fourth quarter, the company introduced 'The World's Great Celebration 2025' campaign."
As of September this year, Central Pattana operates 42 shopping centres and 15 community malls with a combined net leasable area of 2.3 million square metres.
The company also operates 37 food courts, 10 office buildings, 10 hotels and 39 residential projects.
