Central Pattana joins hands with ASEAN’s top logistics and supply chain solutions service provider JWD to expand into self-storage
published : 30 Jun 2022 at 16:42
Central Pattana will utilise its strength as a leading real estate developer with mixed-use projects in over 30 provinces under its five-year business plan to create a strong sustainable ecosystem expanding to other services targeting B2B and B2C customers in shopping centres, residential projects, office buildings and hotels.
Central Pattana Plc., Thailand’s leading company in sustainable real estate development and developer of Central shopping centres, residential projects, office buildings and hotels across Thailand, has joined forces with JWD InfoLogistics Plc. (JWD), one of ASEAN’s top logistics and supply chain solutions service providers, to expand into self-storage service business.
In combining their forces, Central Pattana is utilising its expertise in developing retail-led mixed-use development projects in key locations across the country, while JWD is using its know-how in the self-storage service business with the six branches of “JWD Store It!” and a total storage space of over 13,000 square metres. Central Pattana has invested over 100 million baht for a stake of 30 percent in JWD Store It!, resulting in it being a joint venture between Central Pattana, JWD and Store It! Management, Singapore’s leading self-storage company.
Ms. Wallaya Chirathivat, President and CEO of Central Pattana, said, “With the strategy focusing on retail-led mixed-use development, Central Pattana is looking to cater to future trends and seeking opportunities for business partnership in various areas in order to fulfil and elevate quality of life while also creating synergies for new solutions.”
“The investment in the self-storage joint venture is part of our strategy to expand into new industries which could support our core businesses by working with an experienced business partner. We contribute by utilising our strengths including our strongholds in key locations such as CBD areas in Bangkok and centres of various provinces across the country, and our market insight regarding customer behaviour in these locations. For its part, JWD will use its know-how in storage management for different groups of customers, including B2C customers, who account for a large portion.”
“As our mixed-use development projects are more than just shopping centres and incorporate other core components, we expect the self-storage business to cater to a wide range of users, including condominium residents and hotel guests. We also want to focus on the B2B potential of the business and offer our services to tenants of shopping centres and office buildings who need to store their products and equipment in a nearby area, which can improve their supply chain management and support their business expansion with us.”
Mr.Charvanin Bunditkitsada Chief Executive Officer of JWD InfoLogistics Plc., said, “The joint venture with Central Pattana will help strengthen our business, increase our ability to compete and boost our growth. We believe Central Pattana’s expertise in different locations will be key to the growth of self-storage services of JWD Store It! and will help it reach new groups of customers, including both B2C and B2B.”
JWD Store It! currently operates facilities with a total service area of over 13,000 square metres in six high-potential locations in business centres and residential areas, including five in Bangkok and one in Phuket. It offers private storages, safe deposit boxes for valuable belongings, and wine banks for wine enthusiasts, restaurants and shops. The business is determined to open more facilities in other high-potential locations.
Central Pattana is committed to building a sustainable ecosystem under a 120-billion-baht five-year business plan with a focus on retail-led mixed-use development. Its core business includes 50 shopping centres in Thailand and overseas, 16 community malls, 68 residential projects, 13 office buildings and 37 hotels. It aims to move into a new future with the brand purpose “Imagining better futures for all” to create and develop quality places with care for the people, community and environment, while driving the economy and the country.