SC Asset Corporation Plc. (SC Asset) has made its first foray into the Phuket real estate market by partnering with Boat Pattana, a major luxury property developer in Phuket, to launch their first joint venture project, “Sea Theatre Rawai,” a Super Luxury villa located directly on Rawai Beach. The starting price is 91 million THB in an exclusive community of only 8 families, with a total project value exceeding 700 million THB. The partnership aims for continuous long-term collaboration, setting a target to jointly develop projects worth over 8 billion THB within the next 3 years.
Mr. Nutthaphong Kunakornwong, Chief Executive Officer of SC Asset Corporation Plc. (SC Asset), revealed that the company is continuing to explore new potential markets to drive its core business—residential properties for sale (Engine 1)—to grow steadily and strongly. Most recently, the company partnered with Boat Pattana Co., Ltd., the force behind the success of the Boat Avenue project and a major luxury real estate developer in Phuket, to co-invest in “Sea Theatre Rawai.” This super luxury beachfront villa project in Phuket features villas located directly on the beach, offering sea views from every unit.
"This marks the first time SC Asset has expanded its investment into the Phuket real estate market. We sought a local partner with a consistent vision: to develop properties that create value for people. We found Boat Pattana and decided to form a joint venture. Boat Pattana shares SC Asset’s vision and has high expertise in developing properties in Phuket, while SC Asset has extensive experience in developing diverse properties. The synergy between the two companies' expertise and their shared vision will lead to great creativity and value delivery for people in Phuket. Over the next three years, we plan to jointly develop properties with a total value exceeding 8 billion THB, starting with our first project, “Sea Theatre Rawai,” a luxury beachfront villa with a starting price of 91 million THB," said Mr. Nutthaphong.
The “Sea Theatre Rawai” project consists of 8 super luxury villas located on Rawai Beach, with a project value of 700 million THB. It was designed by Architects 49 Co., Ltd. (A49), a leading architectural firm known for designing landmark projects and luxury properties both domestically and internationally. The project features three main villa types: Type S – Sapphire, Type E – Emerald, and Type A – Amethyst. They offer a sense of luxury and elegance with spacious villa areas (Building Area) ranging from 673.8 to 884.8 sq.m. across 3-4 floors and 4-5 bedrooms. Each villa boasts an infinity-edge swimming pool that seamlessly blends with the ocean surface, providing residents with a panoramic, spectacular sea view from dawn till dusk. Prices start at 91 million THB.
Mr. Boon Yongsakul, Chairman of Boat Pattana Co., Ltd., stated that Phuket's current transformation is a true transition from a destination with purely seasonal tourism to a Global Destination. The real estate market in Phuket is entering a crucial transition, especially the luxury segment, which is being driven by demand from both Thai and foreign buyers seeking high-quality assets.
"Developing luxury projects in Phuket today requires a deeper perspective. We must design spaces that are worth the investment, reflect the value of the location, and focus on delivering a superior living and vacation experience. We are extremely pleased to partner with SC Asset on the Sea Theatre Rawai project. We are confident that combining the strengths of both parties will elevate the standard of luxury villas in Phuket to a new dimension and help us deliver the best experience to consumers," said Mr. Boon.
Both parties are committed to continuously developing projects in Phuket to support the growth of this vital Thai tourist city as a true Global Destination.
Boat Pattana Co., Ltd. is a leading luxury residential developer in Phuket with over 16 years of local experience. It has developed over 30 projects, totaling more than 1,000 units, under various brands such as Boat Avenue, Shambala Grand Villa, The AQUA, Deva Escape, Maison Marina Panwa, and The Petit Tycoon. It also owns community mall projects in the area, including Boat District, Boat Avenue Park&Playground, Boat Galleria, and the upcoming Tycoon Marché on Surin Beach.
