Phuket’s real estate market is making headlines with the launch of the pioneering green development, ‘Gardens of Eden,’ which promises to redefine luxury living on the island. This sustainable project is a standout in a market already known for its high-end properties.
Key Takeaways
- Phuket’s real estate market is booming, with record-breaking investments.
- ‘Gardens of Eden’ is a new-generation green project focused on sustainability and family living.
- The development dedicates 70% of its land to green spaces and aims to reduce carbon emissions.
- Amenities include a wellness center, fitness trails, kids’ clubs, and a water park.
- The project is attracting both local and international investors.
Record-Breaking Investments
Phuket has emerged as the leading destination for luxury real estate development and investment in 2023. According to data from Colliers International, the property market in Phuket is witnessing unprecedented growth, particularly in the Bang Tao area on the west coast of the island. Prices for luxury villas and condominiums have soared, reaching THB100 million per rai.
The ‘Gardens of Eden’ Project
Among the new developments in Bang Tao is the groundbreaking ‘Gardens of Eden,’ a green project funded by Dubai-based Amal Development. Launched on January 29, the second phase of this project spans 73 rai and is designed as a residential and lifestyle community for families relocating to Phuket.
The developers have collaborated with environmental experts to ensure that 70% of the land is dedicated to green spaces, natural parks, and wetland areas. Car traffic is directed underground to minimize carbon emissions. The project aims to create a family-friendly environment that embraces the wider community.
Amenities and Features
‘Gardens of Eden’ offers a range of amenities designed to promote a healthy and active lifestyle:
- A 5,000-square-meter wellness center
- A park with fitness trails
- Kids’ clubs
- A water park
The final phase of the project will introduce waterfront units for Lake Residences, further enhancing its appeal.
Market Dynamics
The majority of land transactions in Thailand in 2023 have occurred in tourist destinations like Chonburi, Rayong, Hua Hin, and Phuket. Following the reopening of the country after the pandemic, Phuket has become the most bustling tourism city in Thailand. This resurgence in tourism has led to an increase in foreigners purchasing pool villas and condominiums as second homes or rental investments.
Despite the return of tourists, high real estate prices in Bangkok have caused the market there to stagnate. This has prompted developers in the capital to partner with overseas investors to focus on projects in Phuket, dedicating over THB100 billion to the province in the past year.
Future Prospects
The ‘Gardens of Eden’ project is set to become a benchmark for sustainable living in Phuket. With its focus on green spaces and family-friendly amenities, it is attracting both local and international investors. As Phuket continues to grow as a luxury real estate destination, developments like ‘Gardens of Eden’ are likely to set the standard for future projects.
Sources
- Phuket real estate breaks records, welcomes pioneering green development ‘Gardens of Eden’ – Asia Property Awards, Asia Property Awards.
