Royal Phuket Marina

One of the biggest residential-leisure undertakings opening in Phuket is the Royal Phuket Marina, a sprawling 190-rai estate that aims to make the island Asia’s boating capital. At an estimated cost of US$150 million (Bt6 billion), a third already personally financed by its creator UK tycoon Gulu Lalvani, the marina aims to also draw some of the world’s wealthiest yachtsmen to reside on the island, writes The Nation.

To attract this upmarket segment, Lalvani has begun building five-star standard villas and condominiums, priced at about Bt40 million for the villas and Bt15 million for a two-bedroom apartment.

"I will ensure that Phuket becomes the yachting capital of Asia if the government does me one favour - reduce or remove the exorbitant 40-per-cent tax on foreign boats. The PM of Malaysia removed all taxes, which is why Langkawi has become a busy marine capital."

He flashed a recent report by Singapore-based Aseanarean Marinas Association, which shows that every dollar spent in a marina generates $10 in the surrounding community. A boat owner usually spends 10 per cent of the value of his boat annually on maintenance and repairs.

"All this would greatly improve Phuket's economy. Marine tourism only thrives where government regulations and taxes support boat ownership," the businessman said.
According to Lalwani, the Royal Phuket Marina Resort and Spa will be equipped with a sophisticated telecommunications system and feature a boutique resort of 40 Amanpuri-style villas, a lavish shopping plaza, a spa, and berthing facilities with concierge services and professional boat managers.

Apart from the 400 residential units, the marina will also have a waterfront promenade and a retail mall that will house a cineplex, supermarket, shops and spa.

Through two local firms, Royal Phuket Marina and Heritage Assets Ltd, Lalvani is erecting the infrastructure to build a yachting haven. Work is already well underway with 900 workers at the site, he said.

The timing could not be better, said the developer who heads Binatone, a telecommunications supplier with a third of the market share in Britain. As of February, Thailand has abolished its 47-per-cent levy on yachts berthing in Phuket, a fee that had deterred many boatsmen from going there. It is only a matter of time before the good news gets out and Lalvani, who first arrived on the island in 2001, is confident the marina project will be able to tap the new influx of cash-rich visitors.

“The move will certainly bring in quality tourists,” said the developer. Indeed, one of the biggest fears among many Phuket investors and realty operators is the destruction that comes with mass tourism in the wake of budget airlines flying to Phuket. Other factors that will benefit the project are the low cost of fuel and crew members, he said.

The project will have three phases. The first, which costs Bt2 billion includes nine luxury villas, four condominium towers (with 16 apartments each), the 16,000-square-metre Horizons shopping and entertainment centre. The first phase of the marina will also be built with enough boat slips for residents in the project.

The second phase will be a luxury hotel and spa. This will include an Ananda Spa, which was voted the second-best spa in the world by Conde Nast Traveller in October 2003. This phase will be completed in 2006. The third phase, which includes a resort and the rest of the marina, is slated for completion by the end of 2007.

Lalvani said the Royal Phuket Marina would focus on foreigners who count yachting among their hobbies. Thai yachting enthusiasts are also welcome.

“Phuket is the ideal sailing destination for European people to visit and Royal Marina is the perfect place to live,” Lalvani said.
Even before its launch next week, the firm said a dozen units have already been booked by overseas buyers.

Having bought a land plot on Naga Yai island nearby, Lalvani aims to set up a training camp to teach occupational skills to the folk living there.

Product type: Villas, resort condominiums
Location: Phangna Bay, near Dulwich School, Phuket
Total number of units: 400 (mix of villas and condominiums)
Price of villas: Bt40 million and up
Price of condominiums: Bt15 million and up
Built-up area of villas: About 500 square metres
Built-up area of condominiums: 200 to 400 square metres
Total land area of project: 190 rai
Facilities: Waterfront promenade, retail-entertainment complex
Marina capacity: 350 yachts