Central Group is set to invest 20 billion baht to develop shopping malls and resort towns on about 200 rai of prime land in three strategic locations across Phuket in a bold move to transform the island into a luxurious destination.
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The retail giant is planning three shopping malls, three hotels, a convention hall, condominium projects, office towers, specialty stores and a leisure and entertainment complex.
The projects will be spread out all over the island and cover an area of 630,000 square metres.
"As an outstanding tourist destination, Phuket's potential for long-term investment has caught the eye of Central Group," said Tos Chirathivat, chief executive director of Central Retail Corporation.
"With an investment strategy conceived to transform Phuket into the dream destination for people all over the world, Central Group aims to fill all the gaps in the island's lifestyle business segment with high-end experiences that include top-class hotels, luxurious shopping malls, office towers, entertainment venues, quality dining and chic nighttime hangouts.
"The 20-billion-baht investment, which will span a period of 5-7 years, will offer Phuket's visitors an unparalleled experience and support the government's policy to attract high-end tourists to the island."
In the northern part of the island, which includes the airport, the group is planning to develop a massive, ultra-modern shopping mall.
In the western area where luxurious villas priced in the US$1-3 million range are located, it is planning a gigantic resort town with a mixed-use complex, consisting of a hotel and a mall.
A high-end condo project, modern office towers and various recreational and entertainment facilities will also be included.
In the central zone, the group is ready to move ahead with the third phase of Central Festival Phuket.
Central Group already has a Central department store, two branches of Robinson department store (Phuket and Jungceylon) and HomeWorks, Power Buy, SuperSports, B2S and Tops stores on the island.
Centara Group is also an active investor in Phuket, with seven hotels under the Centara Grand, Centara Villa and Centara brands and the Waterfront Suite Phuket serviced apartments.