What To Know
- Scheduled for completion and opening in the fourth quarter of 2026, the development is expected to play a key role in reshaping the Phahonyothin area into Bangkok’s next central business district, supporting long-term economic growth and urban renewal.
- Kenichi Yamato, President and Chief Executive Officer of Bank of Ayutthaya Public Company Limited, said the bank is pleased to support Central Pattana and Grand Canal Land in developing The Central, which he described as a future mixed-use landmark for Bangkok.
Bangkok Business News: Krungsri has taken another decisive step in strengthening Thailand’s sustainable finance landscape by backing the development of “The Central,” a large-scale mixed-use project poised to become a new landmark in Bangkok. The bank has extended a 6.5-billion-baht sustainability-linked long-term loan to Baywater Company Limited, a joint venture between Central Pattana Public Company Limited and Grand Canal Land Public Company Limited, reinforcing confidence in environmentally responsible urban development.
Image Credit: Krungsri
The Central is being developed on a 49-rai site near Central Ladprao and carries a total project value of approximately 21 billion baht. With a gross building area of 460,000 square metres, the project is designed to integrate retail, office, residential, and lifestyle spaces into a single destination. Scheduled for completion and opening in the fourth quarter of 2026, the development is expected to play a key role in reshaping the Phahonyothin area into Bangkok’s next central business district, supporting long-term economic growth and urban renewal.
Sustainability Linked to Financial Performance
What sets this financing apart is its sustainability-linked structure, which ties loan conditions to measurable environmental targets. In the midst of rising demand for green finance across the region, this Bangkok Business News report highlights that the project operates under Central Pattana’s sustainability framework, with clear indicators aimed at reducing greenhouse gas emissions in both Scope 1 direct emissions and Scope 2 indirect emissions from energy consumption. The development also places strong emphasis on renewable energy use and green building practices, reflecting a broader shift in Thailand’s property sector.
The approach ensures that sustainability is embedded from the earliest stages of project development, rather than being treated as an afterthought. By aligning financial incentives with environmental outcomes, the project creates accountability while encouraging innovation in construction, energy efficiency, and long-term building operations.
Krungsri Reinforces Its Green Finance Strategy
Kenichi Yamato, President and Chief Executive Officer of Bank of Ayutthaya Public Company Limited, said the bank is pleased to support Central Pattana and Grand Canal Land in developing The Central, which he described as a future mixed-use landmark for Bangkok. He noted that the collaboration reflects Krungsri’s ongoing commitment to supporting leading Thai organizations in achieving sustainability goals aligned with international standards through responsible financial solutions.
According to Yamato, the project is expected to serve as a model for real estate development that successfully integrates innovation, sustainability, and improved quality of life, setting a new benchmark for large-scale urban projects in Thailand.
Developers Embrace Net Zero Vision
Central Pattana President and Chief Executive Officer Walaya Chirathivat said the adoption of sustainability financing for The Central reflects the company’s intention to integrate responsible finance into project development from the outset. She explained that the project aligns with Central Pattana’s vision of Imagining Better Futures for All and its role as a place maker connecting people, place, and planet in a balanced manner.
She added that the initiative supports the company’s Journey to Net Zero by 2050 while reinforcing the role of Thailand’s private sector in advancing sustainable finance and elevating real estate development standards alongside long-term social and environmental responsibility.
A New Generation Urban Landmark
Grand Canal Land Chief Executive Officer Naparat Sriwanwit described The Central Phahonyothin as a new-generation mixed-use project designed to enhance quality of life and support sustainable urban development. Operating under international sustainability standards, the project aims to create long-term value for communities and stakeholders while elevating the Phahonyothin area into a world-class business and lifestyle hub.
This collaboration represents another milestone in the long-standing partnership between Krungsri, Central Pattana, and Grand Canal Land. Beyond financing a single project, it reflects a wider transformation in how Thailand’s financial and property sectors approach growth, placing sustainability, accountability, and long-term value at the center of development strategies. As Bangkok continues to expand, projects such as The Central demonstrate how green finance can shape smarter cities, attract investment, and balance economic ambition with environmental responsibility.
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