PHUKET — Siam Piwat has announced plans to invest 10 billion baht in ICONPHUKET, a retail, entertainment and tourism destination scheduled to open in 2029 in Thalang district.
The project will form the centrepiece of Synthesis Ark Phuket, a 50-billion-baht mixed-use development by CV Group in Si Sunthon subdistrict, the companies said on Sunday.
Siam Piwat described ICONPHUKET as a “hybrid retail-attraction and entertainment destination” featuring 12 attractions, though it has not yet disclosed their individual details. The developer said a third of the project would be devoted to entertainment and attractions, while more than 40% would be green and outdoor space.
Chief executive Chadatip Chutrakul said ICONPHUKET was Siam Piwat’s first development outside Bangkok. The group operates Siam Paragon, Siam Center and Siam Discovery, and is a joint-venture partner in ICONSIAM.
The project is part of Synthesis Ark Phuket, a 491-rai development on Thepkrasattri Road between Phuket International Airport and Phuket Town. CV Group’s masterplan includes housing, offices, hotels, retail, education, wellness and lifestyle facilities.
Siam Piwat said the development was intended to draw 80,000 to 100,000 visitors a day after opening and generate 50,000 to 80,000 jobs from construction through full operation. Those figures are company projections.
The company said it had consulted local communities, government agencies and business associations, and planned to incorporate the identity, culture and products of southern Thailand’s 14 provinces into the development.
CV Group has previously presented Synthesis Ark as a “15-minute neighbourhood,” with the first district, Nexus, planned to include offices, a hotel, retail and lifestyle space, and wellness facilities. The broader project’s first phase is due for completion by 2032.
Further details of ICONPHUKET are expected to be announced later.