Thai property giant Central Pattana PLC (CPN) has announced a THB 21 billion (approx. USD 575 million) investment in “The Central Phaholyothin,” a landmark mixed-use project poised to transform Northern Bangkok into the city’s next Central Business District (CBD). Slated for completion in Q4 2026, the development aims to redefine urban living by integrating business, lifestyle, community, and green spaces, reflecting a global trend in metropolitan evolution.
Positioned as “The Flagship of the Future,” the project will span a 457,409-square-meter area on a strategic 49-rai (7.84-hectare) plot at the intersection of the Phahonyothin and Vibhavadi Rangsit arterial roads. This move signals a significant paradigm shift from traditional retail-focused developments towards holistic urban ecosystems.
“We are not just designing for shopping, but to create a new living space,” stated Dr.Nattakit Tangpoonsinthana, Chief Marketing Officer for Central Pattana Plc,. “Our goal is to elevate Bangkok into one of the world’s most livable cities.”
This “Beyond Shopping” strategy is CPN’s response to the challenges of urban densification. As Bangkok’s traditional CBDs like Silom, Sathorn, and Sukhumvit face increasing congestion, the company is pioneering new urban districts to distribute economic activity and enhance quality of life. Dr.Nattakit draws parallels with the evolution of global metropolises, such as the rise of East London, Brooklyn in New York, Gangnam in Seoul, and Shibuya in Tokyo.
“Bangkok has many more dimensions than just its traditional CBD, much like other major world cities,” he explained. “By creating new districts, we can boost global urban livability by blending green spaces, clean environments, and high-quality residences.” This approach aims to create a “New Culture Economy Impact,” similar to the successful revitalization seen in global landmarks like Tokyo’s Azabudai Hills.
The selection of the Ladprao–Phaholyothin area was driven by a three-pronged analysis of its potential: Location Power, Market Magnet, and a Hub for Sub-Culture Communities.
Strategically, the project sits at a critical transport nexus. It connects two major roadways with a combined daily traffic of 337,000 vehicles, two mass transit lines—the MRT Blue Line and BTS Green Line—serving over 50,000 commuters daily, and offers direct access to Don Mueang International Airport, which is set to expand its capacity from 30 million to 50 million passengers per year. This connectivity positions the district as a gateway for business and travel from Thailand’s northern and northeastern regions.
Economically, the district presents a compelling case. The surrounding area is home to a burgeoning population of 2.5 million with a purchasing power 2.3 times higher than the Bangkok average.
Isareit Chirathivat, Head of Leasing – Fashion & Luxury for Central Pattana Plc., highlighted the area’s robust growth. “Early Phaholyothin Road ranked among the top 10 most expensive land locations in Thailand for 2025, with an appraised value of THB 1.9 million per square wah and a growth rate of 5%, surpassing areas like Ploenchit-Chidlom and Sukhumvit,” he noted.
The location is surrounded by 472 residential projects, over half of which are in the upper segment, alongside 52 office buildings, including 15 Grade-A towers. This existing infrastructure provides a strong foundation of high-value consumers and a professional workforce.
Culturally, The Central Phaholyothin is designed to be a “curated community for the new generation and families,” said Juthatham Chirathivat, Head of Business Development for Central Pattana Plc.
At 50% larger than the iconic Central Ladprao, the project will feature diverse zones for urban sports, contemporary art, family entertainment, and a 6,700-square-meter convention hall capable of hosting world-class concerts and events.
The architectural design, conceptualized as “The Central Playlist,” aims to evoke diversity and discovery. In collaboration with international and local designers, the project will feature “Collective Rhythms” in its architecture and an “Embrace” concept in its landscape design, fostering a deep connection between visitors and nature. This ambitious project is not merely a new mall, but a catalyst for the comprehensive urban revitalization of Northern Bangkok.
