CPN agrees to tie-up for developments in Vietnam

Central Pattana Plc (CPN), a large Thai real estate developer, has signed a memorandum of understanding with Sun Group, a Vietnamese real estate and tourism developer, to jointly explore opportunities for world-class retail and mixed-use developments in Vietnam.

The signing ceremony took place during the Thailand-Vietnam Business Forum 2026 in Bangkok, with Prime Minister Anutin Charnvirakul and General Secretary Tô Lâm of the National Congress of Vietnam in attendance, alongside delegates from Vietnam and business leaders from both countries.

CPN and Central Group have long-standing ties with Vietnam through diversified business operations and continuous investments in the country.

The collaboration between CPN and Sun Group marks a “regional strategic move” that builds on the combined strengths of two leading regional organisations and reflects the growing role of Thailand and Vietnam as future centres of economic growth, investment and tourism in Southeast Asia, according to a statement.

Both parties plan to jointly explore opportunities to develop landmark projects in Da Nang, Ho Chi Minh City and Phu Quoc.

In Da Nang, the focus is on large commercial and shopping complexes along the Han River, envisioned as transformative lifestyle and experience hubs for the city.

For Ho Chi Minh City, collaboration targets large retail and integrated developments in the eastern part of the city and the emerging financial centre, areas expected to become key growth corridors.

In Phu Quoc, the focus is on developing premium, experience-integrated retail centres, positioning the island as a leisure destination and a world-class shopping paradise.

The developments aim to create large landmark destinations that will set new standards for urban living, retail experiences, and international lifestyle offerings, while supporting Vietnam’s long-term economic and social growth, noted CPN.

Beyond this collaboration, CPN plans to invest US$2 billion or 66 billion baht over 15-20 years, while pursuing strategic partnerships to drive long-term regional growth.

The partnership reflects CPN’s “global lens” approach to growth: retail-led mixed-use development is not only about creating commercial spaces, but about building future economic and lifestyle platforms that connect people, cities, tourism, and business opportunities.

CPN develops and operates a diversified portfolio of retail and lifestyle destinations across Thailand, including 45 shopping centres, 53 residential projects, 11 office buildings, 13 hotels, and 16 community malls. The company develops and manages mixed-use projects nationwide.