SIAM PIWAT TO INVEST $300 MILLION IN ICONPHUKET, THE ICON OF SOUTHERN WONDERS, OPENING IN 2029

BANGKOK, THAILAND (PERLA)– Siam Piwat Group, Thailand’s leading retail and real estate developer behind Siam Paragon, Siam Center and Siam Discovery and joint owner of ICONSIAM and Siam Premium Outlets Bangkok, has unveiled ICONPHUKET, a THB10 billion destination development in Phuket scheduled to open in 2029.

ICONPHUKET marks a major expansion beyond Bangkok for Siam Piwat and will bring together the culture, creativity, products and economic potential of Southern Thailand’s 14 provinces in one destination. The project is designed as a first-of-its-kind Hybrid Retail-Attraction and Entertainment Destination,featuring 12extraordinary world-class attractions designed to captivate global audiences, integrating tourism, public spaces and nature with year-round experiences for Thai and international visitors. Building on the success of ICONSIAM and Siam Paragon, which have helped position Thailand as a global benchmark for destination development, Siam Piwat sees ICONPHUKET as its next transformative destination project.

Chadatip Chutrakul, Chief Executive Officer of Siam Piwat Co., Ltd., said: “ICONPHUKET represents the next chapter of our vision to create destinations that generate economic value while showcasing Thailand’s strengths to the world. By connecting the capabilities of all 14 southern provinces with global opportunities, ICONPHUKET will serve as a gateway to Southern Thailand’s potential, helping strengthen Phuket and the region as a leading destination for tourism, investment and the creative economy.”
ICONPHUKET will serve as the centerpiece of Synthesis Ark Phuket, an integrated mixed-use megaproject developed by CV Group of Companies, with an investment value of more than US$1.5 billion (THB 50 billion) and spanning over 80 hectares in Thalang, Phuket, Thailand. The wider project will include residences, hotels, offices, serviced apartments, educational institutions, and health and wellness facilities, with convenient access to Phuket International Airport and yacht marinas. Phase 1 of Synthesis Ark Phuket is scheduled to be completed by 2032. The development is envisioned as a future-ready urban destination that supports the long-term growth of a sustainable Southern economic cluster.

More than 40% of ICONPHUKET will be dedicated to green and open spaces, while one-third of the project will comprise attractions and entertainment. Developed with local communities, government agencies and private-sector partners, the project will incorporate green technologies, resource-efficiency systems and smart mobility solutions. It will also provide a platform for SMEs, community enterprises and local products from across Southern Thailand.

ICONPHUKET will unite the strengths of Southern Thailand’s 14 provinces in one destination. As a gateway to the region’s potential, it will connect local enterprises, communities and products with new opportunities in international markets, while presenting Southern Thailand’s distinctive character to Thai and global visitors and bringing the region’s extraordinary potential to the global stage.

The development is expected to support 50,000–80,000 jobs from construction through full operations and encourage longer stays and higher tourism spending across the southern region. Further details on ICONPHUKET will be announced in the coming months.

For more information, visit www.iconphuket.com