Phuket sands turn to gold as Sansiri digs deep for economic jewel
The sandy shores of Phuket are set for a glamorous makeover as real estate mogul Sansiri Plc zeroes in on the island’s potential to become Thailand’s crown jewel for economic growth. With its eyes firmly fixed on this tropical paradise, Sansiri is revving up its plans, leveraging Phuket’s strategic importance to drive a real estate renaissance.
Thanks to Thailand’s revised visa policies, Phuket is expecting an influx of 16 million tourists this year, numbers that smash even those before the pandemic hit, said Sansiri President Uthai Uthaisangsuk.
“Tourism revenue is projected to hit a record 500 billion baht, catapulting Phuket onto the same stage as legendary destinations like Miami and Dubai.”
This tourism boom has sparked a mad dash for real estate, with demand for chic residences, leisure spots, and investment properties skyrocketing. And with luxury branded residences aimed at wealthy international visitors and investors, it’s clear Phuket is not just sun and sand, but a hotbed of opportunity added Uthai.
“Phuket has been central to Sansiri’s strategy for over 13 years, making us pioneers in the local market. We’ve built trust and intertwined ourselves with the island’s growth, and we’ll continue to fortify Phuket as a flagship hub for our operations.”
Sansiri is diving headfirst into Phuket’s property scene, rolling out projects valued at a whopping 26 billion baht. Over the next five years, they aim to launch 27 new ventures worth 25 billion baht, further cementing their commitment to this thriving market.
Tourism boom
The transformation of Phuket into a world-class hub isn’t a solo mission. Public and private investments are converging to ramp up its economic prowess. Infrastructure is getting a serious upgrade, with transport improvements, airport expansions, and urban development projects all in the pipeline to support the burgeoning tourism boom.
Major government developments are underway, including the expansion of Highway 4027 and a new bridge, priced at 650 million baht, set for completion by July 2026.
Meanwhile, the Expressway Authority of Thailand (EXAT) is advancing on ambitious expressways including the Kathu-Patong and Muang Mai-Koh Kaew-Kathu routes, with the nation’s first mountain tunnel set to be a showpiece.
Phuket Airport is also getting a facelift, with Phase 2 of its expansion poised to increase passenger capacity from 12.5 to 18 million annually by 2029. Major additions like a seaplane terminal and explorations for connecting routes to Samui, Pattaya, and Hua Hin are also on the cards.
Beyond Phuket, the 80 billion baht Andaman Airport in Phang Nga is set to handle 22.5 million passengers annually by 2030-2031, promising to boost regional connectivity and allure.
In the private sector, several high-profile projects are already turning heads. The 4.3 billion baht Bumrungrad International Hospital Phuket and the luxurious Clinique La Prairie wellness centre are cementing Phuket’s reputation as a health and wellness tourism mecca.
Yacht marinas
Meanwhile, 14 international schools and four luxe yacht marinas cater to well-heeled families and jet-setters.
Sansiri isn’t stopping there. The launch of The Society, Phuket’s first international social space in Bang Tao-Cherng Talay, promises an eclectic mix of dining, working, and leisure experiences, said Uthai.
“The Society captures Phuket’s dynamic spirit, linking its idyllic beaches with its buzzing urban vibes while reaching a global audience.”
With strategic visions and dazzling investments, Phuket is on the brink of redefining itself as a luxe global destination. Thanks to Sansiri’s trailblazing moves, the island is not just surfing the economic wave—it’s riding it to the top.
What Other Media Are Saying
- Connex highlights Sansiri’s 40th anniversary with ambitious plans for 2024, targeting 61 billion baht in new projects and emphasising sustainable growth, financial discipline, and enhanced community contributions. (read more)
Frequently Asked Questions
Here are some common questions asked about this news.
Why is Phuket considered a strategic hub for economic expansion in Thailand?
Phuket’s potential lies in its booming tourism and strategic investments, placing it on par with global destinations like Miami and Dubai.
How might Phuket’s infrastructure developments impact its global standing?
Enhanced infrastructure, such as airport expansions and expressways, will boost connectivity, attracting more tourists and investments.
What if Phuket’s real estate market continues to grow at its current pace?
The surge could transform Phuket into a premier destination for affluent tourists and investors, shaping new urban landscapes.
How does The Society reflect Phuket’s cultural and economic aspirations?
The Society blends local culture with global influences, showcasing Phuket’s dynamic identity and supporting its soft power initiatives.
What role does the private sector play in Phuket’s evolution as a world-class destination?
Private investments in healthcare, education, and luxury tourism are crucial in enhancing Phuket’s global appeal and economic value.
