Siam Piwat Invests THB 10 Billion to Create ICONPHUKET, a New Global Destination
New Phuket landmark to connect the potential of 14 southern provinces with global tourism, trade and investment
Siam Piwat, the developer behind Siam Paragon, Siam Center and Siam Discovery, and a co-owner of ICONSIAM and Siam Premium Outlets Bangkok, is expanding beyond Bangkok for the first time with a THB 10 billion investment in ICONPHUKET, a new destination designed to position Phuket as a gateway to the wider economic potential of Southern Thailand.
The project marks a significant new chapter for Siam Piwat, extending its destination-development expertise from Bangkok to Phuket, one of Thailand’s most important tourism and economic hubs. Positioned as the “Gateway to the Southern Potential,” ICONPHUKET aims to connect 14 southern provinces with new opportunities across tourism, trade, investment, creativity and global markets.
A New Hybrid Destination for Phuket
ICONPHUKET will be developed as a Hybrid Retail, Attraction & Entertainment Destination, featuring 12 world-class attractions designed to create a new year-round visitor experience.
Around one-third of the development will be dedicated to entertainment and attractions, while more than 40% of the site will comprise green spaces and outdoor gardens. The concept brings together retail, tourism, entertainment, public spaces and nature within a single destination.
ICONPHUKET will also serve as the centrepiece of Synthesis Ark Phuket, a THB 50 billion integrated mixed-use development by CV Group spanning more than 500 rai in Si Sunthon, Thalang.
Planned as Phuket’s first smart city, Synthesis Ark Phuket will combine luxury residences, offices, hotels, serviced apartments, an international school and health and wellness facilities, creating an integrated environment for living, working, travel and leisure.
Strategically located with connectivity to Phuket International Airport and major yacht marinas, the wider development is positioned to serve luxury residents, long-stay international communities and high-value travellers.
ICONPHUKET is scheduled to open in 2029, with Phase 1 of Synthesis Ark Phuket targeted for completion by 2032.
Taking the Siam and ICONSIAM Model to Phuket
The investment builds on Siam Piwat’s track record in destination development, from transforming Bangkok’s Siam district into a leading hub for retail, culture, creativity and lifestyle to its role in creating ICONSIAM, a global landmark on the Chao Phraya River.
ICONSIAM, developed through a partnership between Siam Piwat, Magnolia Quality Development Corporation and Charoen Pokphand Group, was ranked among the Top 3 projects worldwide in the Most Influential Retail Property Project of the Past 30 Years category at the MAPIC Awards 2025 in Cannes.
Siam Piwat now plans to bring this destination-development model to Phuket, while creating a platform that extends beyond retail to encompass tourism, entertainment, culture and regional economic development.
Connecting 14 Provinces to a Global Platform
A key element of ICONPHUKET is its “Co-Creation & Collaboration to Win” strategy, bringing together public- and private-sector organisations, business associations, the Thai Chamber of Commerce and Young Entrepreneurs Chamber of Commerce (YEC) networks from all 14 southern provinces.
The collaboration is intended to capture the distinctive identities, products and expertise of each province and translate them into a broader “Southern Thailand Vision Master Plan.”
ICONPHUKET will provide opportunities for SMEs, community enterprises and local producers from across the region to reach new audiences through a global destination. At the same time, the project aims to encourage visitors to travel beyond Phuket and discover other destinations across Southern Thailand, helping distribute tourism traffic and spending throughout the region.
Siam Piwat expects the development to generate 50,000–80,000 jobs from construction through full-scale operations.
Sustainability and Smart-City Infrastructure
Sustainability will be integrated into the development through resource-efficient systems, recycled construction materials and green technologies covering energy, water and waste management.
Smart mobility and traffic systems will also be incorporated to reduce the impact on surrounding communities while supporting the long-term growth of the destination.
Ultimately, Siam Piwat envisions ICONPHUKET as more than a new destination for Phuket. It aims to create a national collaboration platform connecting government, businesses, communities and entrepreneurs across Southern Thailand.
Once operational, ICONPHUKET is targeting 80,000–100,000 visitors per day, creating new opportunities for tourism, consumption and investment while connecting businesses from the 14 southern provinces with visitors and markets from around the world.
For more information, visit www.iconphuket.com or call +66 (0)2 658 0808.
