CPN currently operates 14 shopping centers with a total lease area of 772,283 sqm with current high occupancy. Rental rates will be increased by 5% per annum for short-term contracts, which account for 53% of the total lease area. The newly opened projects are expected to have higher occupancy (Central Plaza Chaengwattana from 93% to 95% at the end of this year, Central Festival Pattaya from 89% to 95%, Central Plaza Chonburi from 83% to 92% and Chaengwattana office from 20% to 50%). The net profit is forecast to grow 3% this year to Bt2,248mn (Bt1.03/share) despite the economic slowdown, higher lease payments for Central Ladprao and greater depreciation charges based on the new projects launched.
CPN increasing occupancy rates
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The Thaivest Editorial Team is a dedicated group of writers and editors with a passion for Thailand's vibrant economy, culture, and lifestyle. With diverse backgrounds in finance, economics, and journalism, we provide valuable insights into living well in Thailand, making money online, and practical tools for navigating its dynamic market. Our mission is to keep our readers informed about the latest developments, opportunities, and challenges in Thailand's economic and cultural landscape. Stay connected with Thaivest for reliable, well-rounded coverage of all things Thai.
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