In the world of luxury, a new jewel is glittering on Thailand’s map—Phuket’s very own “Little Moscow.” The northern charm of the island, specifically Nai Thon Beach, is capturing the hearts and wallets of discerning foreign buyers, particularly those hailing from the cold expanses of Russia. This picturesque coastal nook, snuggled within the lush embrace of Sirinat National Park and just a stone’s throw from Phuket International Airport, has become the epicenter of a real estate metamorphosis under the orchestration of the Manothama Raksa group, masked by the Sea Heaven Phuket brand.
Leading this charge for change is none other than Wiravit Manotamraksa, the Vice President of B-Start Heaven Co. Ltd., and the cerebral offspring of Bangkok’s property magnate, Songsak Manotamraksa. Over a decade ago, armed with foresight and strategic acumen, Wiravit began staking claims in Nai Thon’s lands. Back then, they were humble and affordable—now, they are the gold mines of Phuket. His initial venture was a 20-unit commercial phase, each priced between 7 to 8 million baht, which flew off the shelves faster than you could say “sold out.” Encouraged by this success, he dove headfirst into the world of luxury residential projects.
Teaming up with Chinese investors, Wiravit launched two waves of condominium phases, both of which are nearly completely sold, with prices peaking at 170,000 baht per square metre. The demand, especially from Russian buyers, is robust and relentless, with over 70% of the units being snatched up by international clients, of which a staggering 95% in some developments are Russian buyers.
To sweeten the deal and ease the worries of investors, the reputable Wyndham hotel chain has been entrusted with property management, promising an appealing 7% annual return for five golden years, and a share of rental profits thereafter. And this is just the beginning. The elixir of luxury doesn’t stop here. In 2023, Wiravit’s Meris Co. Ltd. introduced Phuvista Villas, an opulent 500-million-baht development with prices soaring as high as 72 million baht. Eight out of the ten extravagant villas have already found their wealthy patrons, including a Polish buyer who clinched a deal for 60 million baht, as reported by ฐานเศรษฐกิจ.
Looking at the horizon, Sea Heaven doesn’t seem to be pausing. The plan is to continue expanding with a new set of low-rise condos, a sprawling 15-rai villa sanctuary near Nai Yang Beach, and come 2026, ambitions for a mixed-use “wellness city” replete with condos, shopping avenues, and intended collaborations with Bumrungrad Hospital—touted to be a slice of Phuket’s Mini Laguna, akin to Bangkok’s trendy Thonglor or Ekkamai.
With competition scarce in Nai Thon and a consistent gust of foreign investment propelling the sails, Phuket’s emerging real estate treasure trove isn’t just a flash in the pan. If trends hold steady, “Little Moscow” could indeed become a testament to luxury living that’s as warm as Phuket and as opulent as Moscow dreams on an island. The future promises a brilliant blend of serenity enveloped in sand and sea, where fortunes and forethought meet in tropical harmony.
This sounds like an amazing opportunity for us Russians to enjoy some luxury away from the cold!
It’s great for Russian buyers, but what about local Thais? Are they getting priced out?
Indeed, this raise in property value might not favor local residents much.
True, but surely the local economy benefits from foreign investment, right? It’s a tricky balance.
Isn’t this just another example of how wealth disparities are becoming more pronounced?
Absolutely! These luxury projects are only accessible to the ultra-rich.
Luxury developments can raise the profile of a place. It’s a double-edged sword, no doubt.
This development seems to be transforming Nai Thon Beach entirely.
I wonder how this will affect Phuket’s natural environment.
Development always comes at an environmental cost. Sirinat National Park deserves better.
I agree. Sustainable development should be prioritized.
This is the future of travel and living, creating luxurious hubs in beautiful places.
But it’s also displacing communities and altering cultures.
True, but change is inevitable. It’s about managing that change responsibly.
Guess I won’t be backpacking through Nai Thon anytime soon with these prices!
Seriously! These places are more for the suitcases-than-backpacks crowd.
Investing in places like these is smart if you’ve got the funds. And Russians are really aware of picking such gems.
I think it’s fascinating how parts of Thailand are being claimed by foreign nationals and turned into these enclaves.
It’s creating little cultural pockets, both good and bad.
Sure, but it makes me wonder about the long-term impacts on Thai culture.
As long as the properties provide solid returns, I don’t see the problem for the investors.
This isn’t the Phuket I remember. It was so much more authentic before all the luxury took over.
Progress comes with sacrifices, unfortunately. Everyone wants their piece of paradise.
I just hope the essence of Phuket isn’t lost in this transformation.
I’m excited to see what new developments ‘Sea Heaven’ will bring next!
Just hope they tread carefully with nature.
What does this mean for future tourism in Phuket?
It could cause a shift towards more affluent tourism.
Which could marginalize budget travelers like me!
Little Moscow? I’m intrigued by this blend of cultures.
I imagine the cultural exchange can be very enriching if done respectfully.
Hopefully, this cultural blend respects the local traditions.