Phuket’s luxury property developmentboom is expanding to four small nearby islands, the Bangkok Post has reported.Currently projects are underway with an estimated value of THB20 billion(US$602 million), the largest of which is by Indian hotel group Taj, which isinvesting nearly THB10 billion (US$301 million) to develop its 100-room and19-private villa Taj Exotica Resort & Spa on Koh Lone, off Phuket’ssoutheastern coast.
“(There is) a trend toward privateislands,” said Risinee Sarikaputra, Head of Research at property consultantColliers International Thailand. “World celebrities, Hollywoodstars and people in the ultra high-end segment love privacy and prefer buying aresort on a private island where no one can interfere with them. That’s whymany property developers move to small islands.”
Another international hotelier, Dubai’s Jumeirah group, isinvesting THB6 billion (US$181 million) to create the Jumeirah Private IslandPhuket on Koh Raet, to the island’s northeast. And a British investor isspending THB2 billion (US$60 million) on The Village villas project on KohMaphrao.
Risinee added that Phuket tourism wouldsoon vie with the Malaysian island of Langkawi in the luxurymarket with two new marinas under construction to add 800 yacht berths.
Comments are closed.