CG Capital readies second Phuket mixed-use project

CG Capital Advisory Ltd, the private equity arm of Central Group, plans to launch its second mixed-use hotel and residential project in Phuket within two months, capitalising on strong demand on the island.

- KANANA KATHARANGSIPORN

Phoom Chirathivat, managing partner and co-founder of CG Capital, said the hotel and holiday home market in Phuket remains robust, particularly after the pandemic.

“We take a long-term view on Thailand and remain confident in the country’s tourism potential and its appeal as a destination for foreigners seeking a second home,” he said.

“Amid growing geopolitical uncertainty, Thailand enjoys a significant competitive advantage as a safe and attractive destination for both tourism and investment.”

Mr Phoom said Phuket continues to offer abundant investment opportunities, prompting the company to proceed with a second project after the successful launch of its first development, The Standard Residences Phuket Bang Tao, two years ago.

The branded residential project registered 85% sales, with Thai and foreign buyers equally accounting for 50%. The project is scheduled for completion and unit transfers by the end of this year.