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Central Group to invest 20 billion THB in Phuket

Great news for Phuket is beginning to filter into the media that the Central Group are planning to invest 20 billion THB in an aim to develop resorts and shopping malls in three strategic locations on the island covering a total of 200 rai. Central’s aim is to help transform Phuket into a luxury destination.

The plans include 3 shopping centers, a convention hall, 3 hotels, office spaces, condominium projects and entertainment complexes. The plan is to spread the 3 locations across the island to cover every major area.

Tos Chirathivat, chief executive director of Central Retail Corporation, said “As an outstanding tourist destination, Phuket’s potential for long-term investment has caught the eye of Central Group. The 20-billion-baht investment, which will span a period of 5-7 years, will offer Phuket’s visitors an unparalleled experience and support the government’s policy to attract high-end tourists to the island.”

One of the ideas is to construct a massive ultra-modern shopping center in the north of the island within close proximity of Phuket International Airport.

The plans bode well for tourists, Phuket residents and everyone connected to the Phuket holiday market. Although it will take a few years to come to fruition, it all sounds like very positive news for Phuket.

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