Mitsubishi signs with CentralMr Yotsuzuka (front left) with Preecha Ekkunagul, president and CEO of CPN. Central Pattana (CPN), the SET-listed retail and property developer under Central Group, has teamed up with Mitsubishi Estate, one of Japan's leading developers, to increase the competitiveness of Central Village luxury outlets in Southeast Asia. The company on Tuesday signed a joint venture agreement worth 1 billion baht with Mitsubishi Estate through the latter's Singapore-based subsidiary Mitsubishi Estate Asia for a collaboration to operate Central Village in Thailand. Under the agreement, CPN will hold a 70% stake in CPN Village, the operator of the Central Village luxury outlet, while Mitsubishi Estate Asia takes the remaining 30%. Mitsubishi Estate is a top real estate developer in Japan, with revenue of US$11.4 billion in its fiscal 2019.

Source: Bangkok Post November 26, 2019 20:26 UTC