Phuket Gets $836M Luxury Expansion
Central Pattana Plc. has announced an $836 million expansion of its Central Phuket project. The major investment aims to transform the Thai island into a global hub for luxury living and investment, building on its retail, real estate, and hospitality portfolio.
This expansion will increase the total project value of Central Phuket to over 26 billion baht, with a gross building area of 500,000 square meters across a 110-rai site upon its completion in 2028. The project aims to increase its scale by 40%, creating a "Global Coastal City" model intended to attract long-stay residents and high-end visitors. The development is phased over several years. The first major update is the doubling of luxury retail space in the Central Phuket Floresta section, targeted for completion in the fourth quarter of 2026. Following that, the Central Phuket Festival area will be upgraded with more retail and fashion spaces by the first quarter of 2028. A significant addition will be a new 14-rai attractions zone, set to debut in the third quarter of 2028. This new area is planned to feature an aquatic experience, a large arena for entertainment and cultural events, and an immersive park. A new culinary destination spanning over 20,000 square meters is also in the works, featuring brands making their Phuket debut like Thai Brasserie by Blue Elephant. This investment taps into Phuket's booming luxury market, which is seeing annual property price increases of 10-15% in prime areas. The island is projected to have over 4,700 new branded residence units and 5,200 new luxury hotel rooms come online between 2026 and 2029. The expansion is supported by major infrastructure upgrades on the island, including an expansion of Phuket International Airport to handle over 18 million passengers annually. The new Airport–Kathu–Patong expressway is also expected to significantly cut down travel times. Phuket's tourism sector has shown robust growth, generating 188.99 billion baht in revenue from 5.52 million visitors in the first four months of 2025 alone. This economic strength is reflected in the job market, with the number of registered workers jumping from around 100,000 in 2019 to over 270,000 in early 2025. Central Pattana's strategy for Phuket mirrors its broader five-year, 121 billion baht investment plan across Thailand, which focuses on developing mixed-use projects that integrate retail, hospitality, and residential components. The company's goal is to establish Central Phuket as a key "downtown economy" and lifestyle hub, similar to destinations like Miami or Saint-Tropez.
