Large-scale developments in retail, hotel and hospitality, wellness, and residential real estate sectors reflect rising confidence from foreign investors in Phuket, underscoring its emergence as one of Asia's leading luxury lifestyle and investment destinations.
Phuket is entering a pivotal phase of new economic development, driven by a strong tourism industry foundation, ongoing foreign investment, and the growth of increasingly diverse and sophisticated hotel, retail, and residential real estate projects—all playing key roles in accelerating Phuket's transformation into an international destination.
A recent C9 Hotelworks study found that Phuket welcomed 6.13 million international inbound passengers from January to September 2026, generating approximately 400 billion baht in tourism revenue, with foreign tourists accounting for 92% of total tourism income, highlighting the critical role of the international market as the main driver of Phuket's tourism economy.
Beyond tourism, the scale and diversity of investments are becoming crucial in shaping Phuket's future growth. Central Festival Phuket shopping mall is undergoing a major 40% expansion to strengthen Phuket’s position as a regional retail and lifestyle hub.
Meanwhile, the ICONPHUKET project, with an investment exceeding 10 billion baht, will be a key component of the mixed-use Synthesis Ark Phuket development valued at over 50 billion baht. This project integrates retail, entertainment, luxury hotels and residences, office buildings, educational facilities, and health and wellness amenities.
In luxury hotel and residential real estate, the partnership between Minor International and Gardens of Eden will create a comprehensive community anchored by Asia’s first Minor Reserve Collection branded hotel, complemented by a 5,000-square-meter health and wellness center.
Bill Barnett, Managing Director of C9 Hotelworks, said Phuket's growth trajectory in 2026 is no longer limited to tourism expansion but reflects an economic upgrade positioning Phuket as a fully capable international destination. This growth is supported by international investment, leading global brands, and new integrated development projects shaping the island's future.
According to C9 Hotelworks data, Phuket has 30 hotel projects under development scheduled to open from 2026 onwards, totaling 5,517 rooms, with 85% managed by hotel brands. This demonstrates growing confidence from international hotel operators, while Bang Tao and Cherng Talay areas account for 22% of the new room supply entering the market.
Regarding residential real estate, Phuket currently has about 45,027 units for sale across 403 projects, with condominiums making up 83% of total supply, according to C9 Hotelworks research.
Of the current residential units on the market, an additional 2,004 condominium units are expected to enter from 2027 onward. Bang Tao and Cherng Talay together hold 50% of the total Branded Residences supply, emphasizing their role as key centers of Phuket's growing luxury real estate market.
The expansion of Phuket's luxury real estate market is also attracting more global operators to invest and expand locally. Recently, ThirdHome, a US-based luxury vacation home exchange network, extended operations to Thailand to collaborate with Branded Residences developers and luxury homeowners.
At the C9 Sessions: Phuket Property Exchange — The Luxury Edition event, which gathered investors, developers, hotel business leaders, and industry consultants, perspectives were shared on Phuket's luxury real estate market gearing up for the high season, organized by C9 Hotelworks.
Phuket is elevating from a seaside tourist city to a fully-fledged “World-Class Luxury & Residential Destination” as its luxury real estate and hospitality sectors rapidly expand. Particularly, the Branded Residence trend and premium mixed-use projects are magnets for wealthy individuals worldwide.
Recently, major private sector players such as Central Pattana (CPN), Minor Hotels Group, and global platform THIRDHOME have demonstrated growth directions and major investment plans that are transforming Phuket.
Napaporn Rudesunant, Head of Asset Marketing at Central Pattana Public Company Limited, described that over 22 years since establishing a presence in Phuket in 2004, Phuket has been Central Group’s second-largest investment strategy after Bangkok, with over 140 assets including shopping malls, hotels, and residential projects. Data from The 1 membership base of over 23 million confirms that spending per capita at Central Phuket ranks highest in the portfolio, with productivity per square meter 2.5 times the average of other branches, supported by a local high-spending customer base of over 3,000 people spending more than 700,000 baht annually.
These tangible figures support CPN’s 26 billion baht investment plan on 110 rai of land with over 500,000 square meters of construction, divided into three main phases: expanding the Floresta zone to double the Luxury Floor area by early 2027 to accommodate new top-name brands; renovating the Festival zone into an Everyday Shopping Hub serving locals and tourists, to be completed in 2028; and a new extension project set to finish between 2028-2029, aimed at making Central Phuket a Complete World Luxury Destination in the city center.
. Omar Romero, Chief Development and Luxury Officer of Minor Hotels, revealed that Gardens of Eden Resort Phuket at Bang Tao Beach has signed an agreement with Minor Hotels to develop Asia’s first ultra-luxury Minor Reserve Collection branded hotel.
This project features an Integrated Resort Development concept combining residences, a hotel, luxury lifestyle facilities, and a nearly 5,000-square-meter world-class wellness center, targeting completion in 2031.
A key feature of Minor Reserve Collection is its “Soft Brand” status, allowing the project's and owners’ unique identities to take precedence. Minor’s choice of Phuket as the first Asian launch site, alongside projects in London, Brazil, and Slovakia, underscores Minor’s long-term confidence in Phuket after over 25 years of operation on the island.
Meanwhile, the Branded Residence market is also boosted by new travel lifestyle trends as Giles Adams, Director of Strategy & Operations at ThirdHome, explained that ThirdHome, a high-end vacation home exchange platform with over 30,000 members in more than 100 countries, identifies Southeast Asia—especially Thailand and Phuket—as the top destination for members from Europe, America, and Australia seeking vacation stays.
THIRDHOME’s model addresses both developers and property buyers by allowing owners to exchange unused vacation home or Branded Residence stays for credits redeemable at luxury villas or resorts worldwide. This relieves buyers’ concerns about returns and maintenance fees, making the Home Exchange concept a powerful tool to boost Phuket property sales.
Amid the influx of high-end brands, a key question is how local communities will benefit. Executives from CPN and Minor both affirm that luxury growth does not neglect local communities. Minor focuses on sustainability pillars and local employment, supporting local suppliers and contractors, while Central emphasizes celebrating Phuket’s identity through architectural design and activities promoting traditional culture.
Regarding infrastructure constraints and traffic issues lagging behind luxury project growth, the private sector views these as common challenges for international tourist cities. Operators are ready to upgrade surrounding areas, such as drainage and access roads, and hope government infrastructure projects—like Phuket airport expansion and tunnel construction—proceed as planned to support Phuket’s stable and balanced growth as a leading global residential and tourism hub.