ICONPHUKET: A New Landmark Retail and Entertainment Destination in Phuket
For the first time in 67 years, Siam Piwat is launching a major retail and entertainment complex outside Bangkok. Announced on October 5, ICONPHUKET will bring the lifestyle experience of renowned destinations like Siam Paragon and ICONSIAM to the island.
What is ICONPHUKET?
Scheduled to open in 2029, ICONPHUKET is a new hybrid retail–attraction and entertainment destination. The project will be located in Thalang and along Thepkrasattri Road, which connects Phuket International Airport with Phuket Town.
It represents an investment of THB 10 billion and will feature twelve attractions. One-third of the area will be dedicated to attractions and entertainment, while more than 40% will be allocated to green and open space.
Developing the project is Siam Piwat, a leading world-class retail and real estate developer in Thailand that has claimed to hold over 70% of the country’s luxury retail market.
Their portfolio contains some of the capital’s most visited destinations, including Siam Paragon, Siam Center, Siam Discovery, and ICONSIAM—a jointly owned project that was named among the world’s Top 3 Most Influential Retail Property Projects of the Past 30 Years at the MAPIC Awards 2025.
Once fully operational, ICONPHUKET is expected to draw between 80,000 and 100,000 visitors per day.
A Gateway to Southern Thailand
ICONPHUKET is also positioned as a gateway to all fourteen provinces of Southern Thailand, as it will showcase various aspects of the region to both local and international audiences. These include its unique identity, culture, local wisdom, way of life, and economic potential.
To achieve this, Siam Piwat has brought together leading public and private sector partners to develop the “Southern Thailand Vision Master Plan,” which aims to open the region to new opportunities in trade and investment. Among these partners are the Thai Chamber of Commerce and Young Entrepreneur Chamber (YEC) representatives from across the fourteen provinces.
The project will provide a global platform for small and medium enterprises (SMEs), community enterprises, and local products from the region. It is also estimated to support between 50,000 and 80,000 jobs from construction through full operations.
The goal is to encourage visitors not only to explore more of Southern Thailand but also to stay longer, fostering a more sustainable cluster economy and increasing tourism spending.
Part of a THB 50 Billion Mixed-Use Development: Synthesis Ark Phuket
ICONPHUKET will serve as the centerpiece of Synthesis Ark Phuket, an integrated mixed-use development with an investment of THB 50 billion.
Spanning about 197 acres (500 rai) of land, Synthesis Ark Phuket is designed as a self-contained community where living, learning, working, and leisure can be found in one place.
Besides being home to ICONPHUKET, the masterplan includes serviced apartments, condominiums, luxury villas, hotels, office towers, international schools, and health and wellness facilities. There will also be dedicated spaces for parks and lakes.
Phase 1 is scheduled for completion in 2032.
How This Could Impact Property and Investment in Phuket
Large-scale projects like ICONPHUKET and Synthesis Ark Phuket could give people more reasons to spend time in the area, from shopping and dining to entertainment, work, and everyday living.
This can drive more investment and interest in the area, leading to new businesses and economic activity.
In turn, they can create employment opportunities, encourage improvements to local infrastructure, and—most importantly—support greater capital appreciation potential for nearby land and properties.
For property buyers and investors, the surrounding area is worth keeping an eye on as development moves forward and demand rises.
Secure Your Property in Phuket With Real Estate Experts
Whether you’re looking to buy property in Phuket for living, investment, or to use as a seasonal holiday base, working with a local real estate agent with in-depth knowledge can make finding the right property much easier.
At Sunway Estates, we provide tailored guidance to help buyers identify properties that suit their needs and long-term plans, from comparing locations and evaluating developers through to completing the transaction process. We also have access to exclusive opportunities that are not available on the open market.
If you’re looking to explore properties in Phuket, Bangkok, or Koh Samui, contact Sunway Estates today!
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