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09/11/2007 - West Coast marina planned for Phuket.  09/11/2007 - West Coast marina planned for Phuket.

Korean Investor Mr Wang Lee met with Phuket Governor Mr Kalayanamit on 6th November to discuss a planned two Billion Baht property and marina development to be built in Layan, Phuket.

Located on over 50 Rai of land at the northern end of Bang Tao Beach this new project would include Phuket Island’s first West Coast marina as well as a number of high end villas and condominiums.

A marina was planned for Layan in 2005 however, the project stalled and the land was acquired by Puvana Phuket Company. When completed the development will be the largest Korean investment in Phuket.

The Governor of Phuket is reported as saying;

“Puvana Phuket is a new company led by its president, Wang Il Lee, from Seoul. He came today to discuss his plans and ask for legal advice. The target group would be Korean retirees. I think this is a good chance for Phuket to draw investment from Korea; they already have the required foreign investment permit from the Korean government,”

The planned development will comprise of eight condominium buildings, forty five villas and a marina with berths for thirty boats. Construction permits are currently being completed and Mr Lee expects the development to be completed and sold out within two years. The cost of the project will be more than two Billion Baht.

A total of one hundred and fifty condominium units will be built and these are expected to cost in the region of US$600,000 to US$1 million, villas will start at approximately US$1 million.

Mr Lee, said, “The expectation is that Phuket will be like Singapore in a few years because marketing in Phuket is very active. This is important in developing Korean investment. Korean investors know about this project; they are always asking me what projects and investments are going on in Phuket.”

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