People from all over the world travel to Phuket and immediately fall in love with the island’s beautiful beaches, sailing friendly seas and tropical ambiance. Most people head home after their holiday longing to return and some even end up buying a holiday residence here but only a select few make it their home.
For Gulu Lalvani, the British born founder of Binatone Electronics and one of the top five richest Asians in the UK, the allure of Phuket was too strong to resist. However, he didn’t just stop at buying a home, he established the multimillion Royal Phuket Marina. The multi-phase project covers nearly 200 rai and required an initial investment of USD50 million.
“Royal Phuket Marina is the result of my ambition to put Phuket on the map as an international yachting and lifestyle destination,” Lalvani says. “Today this project is Phuket’s premier lifestyle destination, combining luxury waterfront living with a state-of-the-art, five-time Gold Anchor-awarded marina – the only marina in Thailand to be presented this award – and many other awards and recognition for our condominium and villa residences.”
Before setting up Royal Phuket Marina, Lalvani regularly visited the island and even had a villa in Amanpuri. He proudly proclaims to have fallen in love with Phuket with the area becoming his home.
“I do continue to travel and I visit my other homes around the world regularly, but I have made Phuket my home and I spend the majority of my time here,” Lalvani states. “I enjoy cruising on one of my boats two to three times a week as Phuket’s cruising grounds are superb. I also enjoy the onshore lifestyle, whether it is fine dining at one of the many wonderful restaurants on the island or local Thai food. Every cuisine is available here and the options are endless.”
Of course living somewhere and investing in it are two separate propositions. The businessman points out that the cost of living in Phuket is far less than in Europe, the United States, Australia and many Asian destinations but offers spectacular yachting access. And this fact is just one of many positives that make it an appealing place for investing in real estate.
“Phuket has become a second-home or even a primary home for residents who find the international schooling, golfing, shopping, cinemas etc. up to the level they would find in their home countries, yet so much more affordable,” Lalvani notes. “Residents can enjoy one of the healthiest air qualities in the world and a year-round warm climate as well as many activities available that in their home countries would be inaccessible or unaffordable for most. Phuket’s tremendous international flight connections to the major commercial hubs in Asia and around the world are also a major draw, far ahead of any other island location, making it practical to have a second-home in paradise”
The island’s benefits are great and varied but for Lalvani, the inspiration for Royal Phuket Marina comes back to his love of yachting.
“There definitely is a special attraction for yachting and waterfront real estate. It may be a small percentage of the overall real estate market, but if someone is wealthy enough to own a yacht, then they will want to be close to it and where they can use it,” he explains. “That’s my concept for the Luxury Villa Collection and one of our unique appeals – your yacht moored at the end of your luxury villa and from there to be out amongst the best and unrestricted cruising waters in the world.”
This story was originally published on property-report.com and is reproduced as part of an editorial partnership between DDproperty.com and Property Report.
