Managing Director Marciano Birjmohun featured on Newsline – NBT World, owned and operated by the National Broadcasting Services of Thailand (NBT) of The Government Public Relations Department (PRD), a division of the Thai Government.
Notable developments were already planned prior to the Asia Financial Crisis. However significant growth in the property sector emerged after the Asia financial crisis, where we saw an increasing number of branded properties enter the Phuket market, the majority with a 5-star allure from vacation clubs till time sharing. Phuket has kept attracting affluent buyers who enjoy the Island due to its maritime lifestyle, tropical climate, and unique real estate offering.
Phuket’s real estate portfolio is for many how heaven should look like. Phuket has always been conceived as the island with potential, that’s why large land plots between 400 – 1200 Rai have been purchased by foreign investors 20 years back. The vision
was there – and reality within this decade. Phuket is one of the islands that has become home for ultra-high net worth families and individuals, and if we look at the yacht sector only and hotel developments we can clearly see a shift into a wealthier demographic.
Along with an increase in luxury hotel and residential developments, Phuket had no urban planning in mind but managed to balance the Islands landscape by accepting infrastructure developments that contribute and stimulate the property sector and visa Versa. Developments such as sports clubs, marinas, and world-class golf courses. There are even property investors that solely purchase a property because of these developments that match their lifestyle and passion.
Because of the developments and lifestyle – investors are returning back to OWN a piece of paradise. The property and tourism sector go hand in hand. Between 2008 – 2017 we saw the highest number of completed supply enter the market + a Y- o-U increase in tourist numbers, this was the right trigger for the private sector to start discussing Phuket’s transportation improvement. Currently these negotiations are still pending but we expect that there will a positive outcome. Phuket need to introduce Public transportation
for better tourist dynamics.