Billionaire's Phang Nga mega-resort

Hong Kong billionaire Richard Li is to build a mega-resort along the beach in Thai Muang district, Phang Nga; attracting mainly wealthy Asians, Europeans and Americans.

His company, Pacific Century Premium Developments Limited (PCPD), acquired the land late 2007, which features over 1,000 rai of beach frontage.

Included in the 2.5kms of beachfront property is the current Thai Muang Golf Course, which will undergo reconstruction along with the building of luxury hotels and villas.

A marina, recreational and retail facilities are also planned for the resort although full details won’t be disclosed until the final plans have been drawn up.

Original Vision, the award-winning Hong Kong architects, has been appointed the design of the project.

Jenny Tam, head of corporate communications for PCPD, did not reveal whether Richard Li will have his own private residence here and also declined to comment on the reported 2 billion baht price tag.

She did reveal, however, that the project would likely take ‘a few years’ to complete but that the exact completion date could not be estimated at this time.

PCPD employs around 14,000 people in Asia, the Middle East and the US and is involved in developing and managing premium property throughout the Asia-Pacific region.

Richard Li, 41, is the son of Li Ka-shing, reputedly the richest man in Asia, and is himself ranked 698th in Forbes magazine’s World’s Richest People list. His net worth is estimated to be US$1.5 billion.