An artist's rendition of Baan Ninya Krabi, a single detached housing project near Central Krabi. The clubhouse with a pool is shown on the left, while the single detached houses are on the right.

SET-listed developer Central Pattana (CPN) is planning to launch nine new residential projects worth a combined 16 billion baht, including a luxury single-detached house project in Krabi where it expects to open a new shopping mall in October.

Wallaya Chirathivat, president and chief executive, said the Krabi projects, including a high-end condo, will mark the third retail-led mixed-use development by the company, featuring low-rise housing alongside retail.

"Since we began residential development a decade ago, we have focused on integrating housing projects with our shopping centres," she said.

"This approach has been well received by customers, as it aligns with their lifestyle needs."

The first two retail-led mixed-use developments featuring single detached houses were in Nakhon Pathom and Phitsanulok, while more than 20 similar projects with condos have already been developed nationwide.

The residential projects in Krabi -- the province's first launch by a SET-listed developer -- includes Baan Ninya Krabi, comprising 100 single detached houses, and Phyll Krabi, a condo project with unit prices starting from 4 million baht.

Baan Ninya Krabi will be located on a 40-rai plot near Central Krabi, one of CPN's new shopping malls scheduled to open in October.

The first phase featuring 10 units priced at an average of 18 million baht will be launched in August.

CPN acquired more than 110 rai on both sides of Phetchkasem Road in Krabi's Mueang district, where it is constructing Central Krabi on 40 rai and plans to develop the residential projects on the remaining 70 rai.

"Our main target buyers are local business owners in Krabi seeking a luxury home near a shopping mall," she said. "We also expect demand from Bangkok residents looking for vacation homes, as well as retirees, foreign tourists and digital nomads."

Mrs Wallaya said CPN has set a five-year investment budget of 120 billion baht, with 10% or 12 billion baht allocated for residential development, covering both land acquisition and construction.

The nine new residential projects planned for launch this year include five in Bangkok, including four single detached house projects and one condo, two in Krabi, and one condo project each in Phuket and Chon Buri.

With a sales backlog of 5.75 billion baht at the end of 2024, 38% of which will be recognised in 2025, CPN aims to achieve 7 billion baht in revenue this year, up from 6.2 billion baht in 2024.

Kree Dejchai, president of CPN Residence, said the company aims to become one of the top 10 SET-listed residential developers. While it wants to grow faster, current economic conditions have limited that ambition.

"We want strong performance numbers, but we won't take unnecessary risks," Mr Kree said.

"The company closely monitors market demand. Although we don't have a large stock of low-rise houses, we will proceed cautiously with new launches as the low-rise trend is slowing. Instead, the company is focusing on our existing condo inventory."

From today until June 1, CPN is hosting an event at CentralWorld in Central Court on the first floor to showcase single detached houses, condos and townhouses with unit prices ranging from 1.39 to 52 million baht in Bangkok and 10 other provinces nationwide.