JLL have won the right to offer Thailand's Royal Phuket Marina for sale. Mike Batchelor and Aaron Desange from JLL Hotels & Hospitality Group will handle the sale through an expression of interest campaign closing September 2016. 

Built in 2005, Royal Phuket Marina is a mixed-use development project that comprises luxury residential, a world-class marina, a waterfront promenade with restaurants and bars, the island’s largest conference and exhibition facility with high-end retail and office space.  It has a total land area of approximately 320,000 square metres and just one third has been developed so far. It is located on the east coast of Phuket with access to the island’s main arterial road. It is less than 30 minutes’ drive from the airport as well as the island’s key hot spots and major tourism demand generators.

Royal Phuket Marina Chairman Gulu Lalvani has decided to officially put the development on the market following serious interest from an international buyer.

"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," said Lalvani. "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."

"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 privilege allowing for 100 percent foreign ownership," said Desange, who is Executive Vice President, Investment Sales Asia at JLL.

"The Phuket hospitality market continues to be a focus of investors globally and we are anticipating very strong interest in this asset, particularly given the significant future development angle that it offers," said Batchelor, whose title is Managing Director, Investment Sales Asia. "Rarely does such a large land holding with extensive master planning come to market in such a prominent location and sought after investment destination."