SET-listed Central Pattana (CPN) is investing 3.8 billion baht in a mixed-use development comprising its second shopping mall in Khon Kaen, a budget hotel and a high-rise condominium project, aiming to capitalise on the province's growing economy and rising urban demand.
Nattakit Tangpoonsinthana, chief marketing officer at CPN, said Khon Kaen is a major economic centre in the Northeast with strong potential as a hub for education, government services and healthcare.
"Khon Kaen is the first province in the Northeast to have two Central malls," he said. "We opened Central Khonkaen 16 years ago, and are now launching Central Khonkaen Campus."
The new development, with a gross building area of 62,000 square metres, required an investment of 2.7 billion baht. The site is located on 30 rai on Mittraphap Road, around three kilometres from Central Khonkaen.
While the original mall mainly targets families, Central Khonkaen Campus is designed to serve younger consumers and university students, with a focus on food, lifestyle offerings and a 24-hour gym. The project has a catchment population of more than 56,000 people.
Mr Nattakit said Khon Kaen has a population of more than 1.8 million, ranking fifth nationwide.
The province recorded a gross provincial product (GPP) of 239 billion baht in 2024, according to the National Economic and Social Development Council.
Khon Kaen's GPP per capita tallied 140,255 baht, ranking second in the Northeast and fifth nationally.
More than 760,000 residents belong to Gen Y and Z, accounting for 42% of the province's population.
"This makes Khon Kaen a city full of youthful energy, creativity and continuous economic growth, positioning it to become a city where young people want to live, similar to other leading global cities," Mr Nattakit said.
The province is also the region's medical hub, with 31 hospitals and plans to add another 5,000 beds. Srinagarind Hospital was recently ranked among the world's best hospitals in 2026.
Khon Kaen is home to five leading universities, with Khon Kaen University ranked first in the Northeast and fifth nationwide for research output. The province also has 48 schools, including nine international schools.
Kree Dejchai, president for residential business at CPN, said housing demand in Khon Kaen has been driven by medical professionals, students, and younger working-age buyers.
According to the Real Estate Information Center, the Khon Kaen condo market was valued at 5.57 billion baht in 2025, increasing by 150% from 2022.
Campus areas in particular have emerged as high-potential locations supported by real demand from multiple buyer groups.
The company launched Phyll Khon Kaen yesterday, a 33-storey condo project with 583 units located next to Central Khonkaen Campus. The project has a development value of 1.6 billion baht, with investment estimated at 1 billion baht.
Units range from 1-3 bedrooms, starting from 95,000 baht per sq m. CPN expects 50-60% of units to be sold during the launch period this week.
The company also invested 120 million baht to develop Go! Hotel, a 75-room property located near Central Khonkaen Campus, which is the company's 45th mall.
