The Base Rise is one of Sansiri's developments in Phuket.

SET-listed developer Sansiri plans to launch 29 residential projects worth 33 billion baht in Phuket under a five-year plan, driven by new demand from both locals and foreigners.

Poomchai Mattayompoppinyo, managing director of Southern project development at Sansiri, said the company remains consistent in launching new developments and balancing its portfolio across various segments and locations.

From 2025 through 2029, it is preparing to launch 29 projects worth 33 billion baht, comprising 16 low-rise projects worth 12 billion baht and 13 condo projects worth 21 billion baht.

He said Phuket has more than 2 million residents, long-stay workers, and short-stay tourists.

The province's potential is supported by five major marinas with a total capacity of 700 boats, along with world-class hospitals, international schools and retail malls, with new infrastructure on the way.

"Many foreigners want to relocate to Phuket. Our client profiles are also changing, as we attract new customer segments," he said.

Prospective buyers from Bangkok are also showing an interest in Phuket. In addition to the existing Russian market, new demand is emerging from Israel, Central Asia, India, Bangladesh and from the LGBTQ segment.

He said some foreigners want to diversify their investment portfolios to a place that offers safety, a good quality of life and high returns at lower prices.

In Dubai, the same property type could cost more than three times the price in Phuket.

Since entering the Phuket market in 2011, Sansiri has developed 28 projects worth 30 billion baht.

This includes two recent projects, The Base Bukit Phuket and The Base Rise Phuket, which were completed ahead of schedule.

The company secured over 1 billion baht in transfers, as many buyers are seeking to benefit from strong rental demand.

Mr Poomchai said Sansiri has reported 2.5 billion baht in presales since the beginning of the year, putting it on track to achieve its 5-billion-baht target.

This year, the company will launch three more projects in Phuket -- The Base Cherngtalay, Setthasiri Kohkaew Retreat and Dcondo Kathu 2.

Somsakul Limsuttaphan, deputy managing director of business development and asset management at Plus Property, said the company offers after-sales services such as leasing, gardening, pool cleaning and immigration form assistance for owners and investors.

Given concerns over illegal daily rentals, Ms Somsakul said they strictly regulate their properties, with almost no such violations found under Plus's management in Phuket.

If a unit is found to be subleased to daily tourists through an agent, owners are immediately notified.

The company consistently reminds owners that daily rentals violate hotel laws and could damage their property.