ICONPHUKET is a THB 10 billion retail, attraction and entertainment destination that Siam Piwat, the developer behind Siam Paragon and a partner in ICONSIAM, plans to open in 2029 in Si Sunthon, Thalang, as the centrepiece of CV Group’s 491-rai Synthesis Ark Phuket. Siam Piwat announced it on 5 October 2026 with 12 attractions, more than 40 per cent of the project as green and open space, and a target of 80,000 to 100,000 visitors a day.
- THB 10bn
- the investmentSiam Piwat, 5 October 2026
- 2029
- the openingper Siam Piwat
- 12
- attractionsnone named yet
- 40%+
- green and open spaceof the project
What was announced, and what was not
A name, a budget, a year and a shape. Not yet a size, a list of attractions or a start on site.
THB 10 billion
Siam Piwat’s own investment, announced in Bangkok on 5 October 2026.
Opening in 2029
With further details promised in the coming months.
The mix
One-third of the project for attractions and entertainment; more than 40 per cent green and open space.
The 12 attractions
Not one has been named.
The size
Neither the land area nor the floor area of ICONPHUKET itself has been published.
A start on site
No construction date, and we found no report of an environmental approval.
“Siam Piwat does not build new projects all the time. But every time we invest, it has to be a mega project that can compete with the great projects of other countries.”
Chadatip Chutrakul, Siam Piwat’s chief executive, in the company’s Thai release of 5 October 2026 (our translation).
Read the full announcement detail
Siam Piwat calls ICONPHUKET a hybrid retail, attraction and entertainment destination. Its Thai release says the architecture takes its lines from Phang Nga Bay, the Phuket sea and the limestone cliffs of the south. The firms it names on the design and engineering team are Urban Architects, P Landscape, K.C.S. & Associates, TEAM Group, Atelier Ten and Systra MVA (Thailand).
The company frames the project as a platform for all 14 southern provinces, shaped with the Thai Chamber of Commerce and its young entrepreneurs’ groups (YEC) across the south, and estimates 50,000 to 80,000 jobs from construction through full operation. Its Thai release calls ICONPHUKET the first step, in the company’s 67 years, out of Bangkok to build in another major city. These are the company’s own figures and descriptions.
On size, the two developers differ. Siam Piwat’s release gives Synthesis Ark as more than 500 rai; CV Group, which owns the masterplan, gives 491 rai, and we use its figure.
Who is building it
Siam Piwat, the Bangkok developer of Siam Paragon, Siam Center and Siam Discovery, and one of the three partners behind ICONSIAM. Its own footfall figures set the scale of the target.
- 150–200k
- a day at Siam ParagonSiam Piwat, July 2024
- 140–160k
- a day at ICONSIAM and ICSSiam Piwat, July 2024
- 80–100k
- a day, ICONPHUKET’s targetonce open, per Siam Piwat
Read the full explanation
ICONSIAM opened on the Chao Phraya in November 2018 as a joint venture of Siam Piwat, Magnolia Quality Development Corporation and the Charoen Pokphand Group, and Siam Piwat’s release holds it up as the model for Phuket. The riverbank it changed is a stretch we cover building by building in our Riverside guide.
The company also says it holds more than 70 per cent of luxury retail sales in Thailand and works with more than 50,000 business partners. Those are its own figures. The point for Phuket is simpler: the company that runs two of Bangkok’s busiest shopping destinations has chosen the middle of the island, not the west coast.
Where it sits
On Thepkrasattri Road in Si Sunthon, Thalang, the island’s main road between the airport and Phuket Town. Inland: about 2 km from the marinas and 9 km from the west-coast estates.
| Place | Straight line | What it is |
|---|---|---|
| Heroines Monument | 1.3 km | Thalang’s landmark junction |
| The marinas | 2.1 km | Boat Lagoon and Royal Phuket Marina |
| Porto de Phuket | 7.4 km | Shops and dining by Laguna |
| Laguna Phuket | 8.7 km | Banyan Group’s estate, to its golf course |
| Central Phuket | 9.0 km | Central Pattana’s mall, growing to 2028 |
| Bang Tao Beach | 9.5 km | The west-coast beach at Laguna |
| Tri Vananda | 9.6 km | Lake-view villas, also in Thalang |
| Phuket airport | 17.0 km | CV Group gives 30 minutes by road |
Straight-line distances measured by Embark on OpenStreetMap on 6 October 2026, from the site pin CV Group publishes for Synthesis Ark. ICONPHUKET’s own plot inside the 491 rai has not been published, so read each figure as approximate. By road, CV Group gives 30 minutes to the airport, 20 to Phuket Town and 40 to Patong.
From now to 2032
The first building on the site is already going in. ICONPHUKET is three years away, and the first phase of the whole masterplan six.
NEXUS begins
Foundation ceremony for CV Group’s first phase: offices, a 70-room hotel, retail and a wellness centre on 30 rai facing Thepkrasattri Road.
Piling on site
CV Group’s construction update shows the foundations of NEXUS going in.
ICONPHUKET named
Siam Piwat announces THB 10 billion and 12 attractions as the centrepiece.
NEXUS opens
CV Group’s target for its first phase.
ICONPHUKET opens
Siam Piwat’s target, with details due in the coming months.
Phase 1 complete
Synthesis Ark’s first phase, per Siam Piwat. CV Group’s own site speaks of phases through the 2030s.
What it changes for a buyer, and what it does not
It gives the middle of the island a reason to be lived in, not only driven through. It does not make any home worth more today, and we publish no figure that says it will.
More to do, all year
Attractions, shops and gardens on a scale the north of the island has not had, about 9 km from Laguna and Tri Vananda.
Work, not only holidays
The offices of NEXUS beside it and, on the company’s estimate, 50,000 to 80,000 jobs from construction to full operation.
Long-stay residents, by name
Siam Piwat’s Thai release names luxury residents and long-stay foreigners among the people the site is built for.
Still not the beach
The beach homes stay on the west coast, and the roads between the two are the roads of today.
Read the full explanation, including the roads
Phuket’s branded homes have always followed the beaches of the west coast: Bang Tao, Layan, Surin, Kamala. A destination of this size in Thalang does not move the sea. What it can change is daily life for someone who spends more of the year on the island: what there is to do on a wet afternoon, where the children go at the weekend, how far the nearest large shops are.
The roads are the open question, because ICONPHUKET sits on Thepkrasattri Road, the artery the whole island already depends on. The Kathu to Patong expressway, 3.98 km at THB 16,757 million, is due to go to Cabinet in December 2026 for an opening in 2031. A second stage from Muang Mai through Koh Kaew to Kathu, THB 46,752 million, is due to go to Cabinet in September 2027. Neither is approved. The airport to Chalong light rail is now expected to proceed only after 2030, the transport minister said in January 2026.
The homes at Synthesis Ark itself are still unannounced. CV Group’s site lists villas and homes “developed with established residential partners” as coming soon, with no phase, date or price. Our guide to what is being built at Synthesis Ark tracks them.
We publish no yield, rental return or capital-growth figure for any Phuket project, and none for this part of the island. A claim that land nearby has already doubled is the kind of number we leave out.
The homes nearest it you can buy today
Nothing on the Synthesis Ark site is for sale yet. The nearest homes we represent are about 9 km to the north-west, at Tri Vananda and on the Laguna Phuket estate.
9.6 km from the site
Tri Vananda, Thalang
Lake-view pool villas at Thep Krasattri, in the same district, beside Clinique La Prairie’s health resort, which the developer says opens in November 2026. From ฿57.78M on the developer’s list, and the finished show villa is open to visit.
The finished show villa at dusk. A photograph.
- Laguna Phuket, 8.7 km. Banyan Group’s estate behind Bang Tao Beach: lakeside condominiums at Laguna Lake Residences Aster and pool villas at Lakelands Waterfront Villas. The Laguna guide has every address.
- The Standard Residences, Phuket Bang Tao. On the same shore, and ready to move in from October 2026, per the developer’s sales team. See the homes.
What could go wrong
The honest list, for a project three years from opening.
- Nothing about the attractions is known. Twelve are promised and none is named; the details are due “in the coming months”.
- Three years is long enough to slip. No construction start has been announced, and we found no report of an environmental approval.
- The visitor figure is a target. 80,000 to 100,000 a day is Siam Piwat’s projection, not a count, and it arrives on the island’s main road.
- Central Phuket moves first. Central Pattana is taking Central Phuket past THB 26 billion, with a 14-rai attractions zone due in the third quarter of 2028, 9.0 km to the south.
- The homes beside it are unpriced. Synthesis Ark has named no residential phase, so there is nothing yet to compare.
Facts as of 6 October 2026, from Siam Piwat’s releases of 5 October 2026, CV Group’s published material and the dated reports listed under Sources. Distances are our own measurement. General information, not investment advice.
