After much thought (and what is reportedly very serious interest from an international buyer), Gulu Lalvani, Chairman of the Royal Phuket Marina has put the Royal Phuket Marina up for sale. To help with the task of prospecting potential buyers, the marina has appointed Mike Batchelor and Aaron Desange from JLL Hotels & Hospitality Group.
With its ideal location on the east coast of Phuket, the 320,000 square meter marina is less than 30 minutes away from the airport and the island’s key attractions. In the 10 years since it was opened, the marina has come to be known as a world-class destination for yacht lovers.
Alongside the marina are luxury residential areas, a waterfront promenade with restaurants and bars as well as Phuket’s largest conference and exhibition facility. Visitors who love their dose of retail therapy will be happy to note that the marina also boasts high-end retail outlets as well as office space.
“Royal Phuket Marina is my passion and since opening over 10 years ago I have worked tirelessly to promote yachting in Thailand and make Royal Phuket Marina a leading waterfront destination in the region. With still so much untapped potential, I am keen to find a buyer who can take Royal Phuket Marina to the next level and realise my dream of making this property a world-class integrated lifestyle destination,” said Lalvani.
The total land area of this mixed-use development is an impressive 320,000 square meters (200 rai) and just a third of that has been developed so far. Lalvani is certainly overstating the case when he says the new owners will indeed have opportunity aplenty to take Royal Phuket Marina to new heights of distinction.
“The property offers a number of value enhancement opportunities including the development of hotels, additional residential and entertainment facilities including a proposed world-class water park. The offering also has the potential for Board of Investment (BOI) privilege allowing for 100 percent foreign ownership,” said Desange, Executive Vice President, Investment Sales Asia, JLL Hotels & Hospitality Group.
The prospective sales does not impact current operations, according to Lalvani, and it is business as usual at Royal Phuket Marina.
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