ICONPHUKET to open in 2029 at the centre of a THB 50 billion district near the airport

Siam Piwat, the group behind Siam Paragon and a partner in ICONSIAM, announced on 5 October 2026 that it will invest THB 10 billion in ICONPHUKET. It is the company’s first project outside Bangkok and is due to open in 2029.

ICONPHUKET will be the centrepiece of Synthesis Ark Phuket, a THB 50 billion, 491-rai mixed-use development by CV Group in Si Sunthon, Thalang. The site is on Thepkrasattri Road, the main road between the airport and Phuket Town. The masterplan includes housing, offices, hotels, retail, schools and wellness facilities. The first phase of the wider project is due by 2032.

Siam Piwat describes ICONPHUKET as a retail, attraction and entertainment destination with 12 attractions. About a third of the space is planned for entertainment and more than 40% for green and outdoor areas. The company projects 80,000 to 100,000 visitors a day and 50,000 to 80,000 jobs from construction through operation. These are the developer’s own projections.

What this means for buyers and investors

For the north of the island. Thalang has long been where Phuket’s workers live, not where visitors spend. A project of this size changes that. Expect stronger demand for long-term rentals from staff and managers, and for mid-priced housing within 15–20 minutes’ drive, once construction begins.

For Bang Tao and the west coast. Si Sunthon borders Choeng Thale, where Bang Tao is. A major retail and leisure destination nearby adds a reason for families and long-stay residents to choose the north-west, which supports year-round occupancy rather than only high-season demand.

Be realistic about timing. Opening is 2029, and the first phase of the wider district is 2032. Visitor and job numbers are projections. Price rises tend to arrive in steps as construction becomes visible, not on announcement day.

Watch the traffic. Thepkrasattri Road is already busy. Up to 100,000 extra daily visitors would add pressure unless road works keep pace. Properties that avoid the main road at peak times will hold their appeal better.