“Boat Avenue is booming. All businesses here are doing very well, and many other businesses want to lease commercial buildings from us. So, due to the high demand, we are expanding Boat Avenue,” said Boat Avenue Vice President Boon Yongsakul.
“We have several projects lined up with the total budget over B100mn to transform the lagoon at the site into a mega-shopping centre in a modern design.
“It will be international shopping experience for everybody, with stores everything from local products to luxury imports.” he told The Phuket News.
Among the long list of projects under the expansion is Boat Avenue III, which is already under construction, explained Mr Boon, who is also Deputy Managing Director and son of Boat Lagoon owner Kanit Yongsakul.
Boat Avenue III will have a main four-story building of conjoined units, with the first and second floors filled with luxury goods and imported furniture stores, an international health and beauty centre, souvenir shops, banks and a variety of restaurants, including a pizza delivery store.
“The third and fourth floors will house areas that can be used as either office spaces or living spaces. This project will be completed early next year and each unit will be sale for B13mn,” Mr Boon said.
HIDEAWAY PLAZA
Among the new developments slated under the expansion is the development of Hideaway Plaza, located on the site of the now-closed Hideaway Spa.
“The site has been cleared, and the old spa is gone,” said Mr Boon. “Construction of the new building will begin in January and is scheduled to be finished in July.
The plaza will be a one-storey retail centre with 15 units for rent. Rental rates have been tentatively set at B60,000 per month.
“The entire B100mn project is big and includes many other developments, and will take at least two to three years to complete,” said Mr Boon.
“New roads will be added throughout the new development after the building is complete to provide better access to the arcade and the main lagoon. Plus, the addition of more parking spaces is in progress,” he added.