Botanica's Remarkable Growth and Market Position

Botanica Luxury Phuket, a prominent local property developer, has unveiled its ambitious expansion plans to solidify its standing in Phuket's thriving luxury real estate sector. At a recent press conference, CEO Attasit Intarachooti emphasized the company's significant growth over two decades, citing record-breaking sales figures for 2024.

Since its inception in 2004, Botanica has developed 27 projects across Phuket, Krabi, and Hua Hin, with a portfolio in Phuket alone comprising 4,081 units, directly developed by Botanica representing a total value exceeding 51 billion baht.

Market Overview and Strategic Expansion

According to Colliers Thailand's September 2024 report, Phuket's villa segment is valued at 160-170 billion baht, with over 170 active projects. The first half of 2024 saw the launch of 1,285 new villas across 65 projects, marking the first time in 15 years that villa launches have surpassed condominium developments.

Botanica's strategic expansion for 2025 includes five new projects across various locations, with its first luxury condominium project, "Hythe by Botanica", situated within the "Botanica Grand Avenue" mega-project near Bang Tao Beach, already securing over 40% in pre-launch sales.

Infrastructure Development and Future Prospects

The expansion plans align with significant infrastructure improvements planned for Phuket, including the Kathu-Patong Expressway and the Muang Mai-Koh Kaew-Kathu Expressway, set to begin construction in 2025. Additionally, Phuket International Airport's expansion will increase its annual passenger capacity from 12.5 million to 18 million.

With Phuket's property market valued at approximately 470 billion baht in 2024, Botanica's expansion strategy aims to capitalize on the region's continued growth and appeal to international investors, offering rental returns at around 7% to 10% depending on the location.