escalations and lower discounts given to tenants at most shopping malls and strong post-renovation growth at certain shopping malls, such as CentralPlaza Chaengwattana, CentralPlaza Chiangmai Airport and
1,671 per sqm/month. Same store rental rate growth is at 3.1% from THB 1,645 per sqm/month in the previous year to THB 1,670 per sqm/month as a result of rate escalations, contract renewals and lower
store rental rate growth is at 3.0% from THB 1,611 per sqm/month in the previous year to THB 1,660 per sqm/month as a result of rate escalations, contract renewals and lower discounts given to tenants at
end of the year. Despite the minor setback, the rental rate growth in CPN’s total portfolio continues at a healthy trajectory as rate escalations from contract renewals and lower discounts given to
the Company’s expectation given the intense competition in certain areas, such as Nakhon Ratchasima. Although rental rate escalations were affected and discount rates were higher in certain locations
sqm/month as a result of rate escalations, contract renewals and lower discounts given to tenants at most shopping malls. Table 1: Summary of net leasable area and occupancy rate Occ. Rate / Sales Rate
malls, enhancement of existing shopping malls, rental rate escalations, incremental gains from operations management, mixed-use project development, as well as M&A opportunities into high quality assets
of existing shopping malls, rental rate escalations, incremental gains from operations management, mixed-use project development, as well as M&A opportunities into high quality assets, are key drivers