Siam Piwat announced a 10 billion baht (US$300 million) investment in ICONPHUKET, a new retail, attraction and entertainment destination in Thalang district, Phuket, marking the company’s first major development outside Bangkok in its 67-year history.
The company officially unveiled the project on October 5. ICONPHUKET is planned as a hybrid retail-attraction and entertainment destination featuring 12 world-class attractions, with the project scheduled to open in 2029.
The development will occupy part of the wider Synthesis Ark Phuket project, a mixed-use development worth 50 billion baht and covering more than 500 rai. The wider project is being developed by CV Group of Companies, with Phase 1 scheduled for completion in 2032.
ICONPHUKET will be located in the Si Sunthon area of Phuket and is positioned as a gateway connecting the province with the potential of Thailand’s 14 southern provinces.
Siam Piwat said around one-third of ICONPHUKET will be dedicated to entertainment and attractions rather than retail. More than 40% of the project will consist of green and open spaces, while its design draws inspiration from the natural beauty and cultural heritage of Southern Thailand.
The wider Synthesis Ark Phuket development is planned as a future-ready urban destination featuring residential properties, luxury villas, offices, hotels, serviced apartments, educational institutions and health and wellness facilities.
Siam Piwat expects ICONPHUKET to attract between 80,000 and 100,000 visitors per day once fully operational. The company estimates that the wider development will support between 50,000 and 80,000 jobs from construction through full operation.
The project is also intended to provide a platform for small and medium-sized enterprises, community enterprises and local producers from all 14 southern provinces to reach Thai and international visitors.
Siam Piwat chief executive Chadatip Chutrakul said the company does not frequently build new projects, but aims for each investment to create a destination capable of competing with major developments internationally.
“We do not build new projects all the time, but every time we invest, the project has to be a mega project that can compete with the great projects in other countries.
“Building a world-class destination is not only about putting up something large with heavy investment. It has to be genuinely iconic.”
ICONPHUKET is scheduled to welcome visitors in 2029, while Phase 1 of the surrounding Synthesis Ark Phuket development is scheduled for completion in 2032. Siam Piwat said further details of the attractions will be announced later.
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The story Siam Piwat expands beyond Bangkok with ICONPHUKET as seen on Thaiger News.
