CPN Retail Growth Leasehold REIT (“CPNREIT”) was established on 1 December 2017 from the conversion from CPN Retail Growth Leasehold Property Fund (“CPNRF”). CPNREIT transferred assets from CPNRF consisting of 4 shopping projects namely Central Rama 2, Central Rama 3, Central Pinklao and Central Chiangmai Airport, and 2 office buildings, Central Pinklao Tower A and Tower B, as well as invested in additional assets, namely Central Pattaya Shopping Center and Hilton Pattaya Hotel, with a total value of Baht 11,908 million funded entirely by loans from financial institutions. The trust units of CPNREIT were first traded on the Stock Exchange of Thailand on 14 December 2017.

In February 2021, CPNREIT utilized the proceeds received from the capital increase in the amount of Baht 6,578 million by the issuance of the additional trust units in the number of 355,557,300 units at the offering price of Baht 18.50 per unit to invest in Central Marina Project and Central Lampang Project.

On May 8, 2024, CPNREIT successfully increased its capital and renewed the contract for the Central Pinklao Project for another 15 years from 1 January, 2025 to 31 December, 2039, CPNREIT has issued and offered for sale a total of 1,053 million new trust units at the final offering price of Baht 10.20 to existing trust unitholders and the general public.