Laguna Lakelands Phuket: $2 Billion Masterplan Construction Update (March 2026)

Banyan Group’s $2 billion Laguna Lakelands masterplan — announced in February 2024 and covering 1 million square metres of Bang Tao’s prime real estate — has multiple projects actively under construction or delivering in 2026. The masterplan targets up to 5,000 residential units across a 5–10 year development window, positioning Bang Tao / Cherng Talay as Phuket’s most ambitious eco-integrated lifestyle district. Here is the current construction status as of March 2026.

Construction Status by Project (March 2026)

Project	Units	Price Range	Status	Delivery
Skypark Elara Lakelands	220	$265K–$1.52M	Construction complete / final fitout	October 2026
Laguna Lake Residences Aster	180	$338K–$1.11M	Construction started January 2026	December 2027
Residences at Garrya Phuket	38	$430K–$1.9M	Construction Q1 2025–Q2 2027	Q2 2027
Laguna Seaside Residences	50	$250K–$1.01M	Delivered / handovers in progress	Q1 2026
Laguna Beach Residences Seashore	50	not public	Early construction	2026
Bellaguna Lake Residences Lotus	n/a	not public	Pre-launch	2028+
Bellaguna Golf Residences Hibiscus	n/a	not public	Pre-launch	2028+

The Lakelands masterplan is being delivered in phases, with the 2026 phase concentrating on Skypark Elara (imminent delivery) and the 2027 phase anchored by Laguna Lake Residences Aster and Garrya.

Skypark Elara: October 2026 Delivery

Skypark Elara Lakelands is the most time-sensitive opportunity in the Lakelands portfolio for 2026 buyers. With 220 units across three 7-floor buildings, delivery is confirmed for October 2026 — meaning buyers who purchase now are looking at a 6-month construction tail rather than a multi-year wait.

• Price: 8.29M–47.45M THB (~$265K–$1.52M)
• Average price/sqm: THB 218,000 (~$6,100/sqm)
• Payment: 0% interest, 20% across 5 construction stages
• Views: Lake views over the Lakelands water feature network
• Location: Cherng Talay, within Laguna Phuket resort zone

Foreign quota availability should be confirmed before reserving — Skypark Elara has been selling since 2024 and quota may be tightening in popular unit sizes.

Laguna Lake Residences Aster: New Launch

Laguna Lake Residences Aster broke ground in January 2026 with a December 2027 target delivery. The project is positioned as a step up from Skypark Elara: 180 units with a 60-metre infinity rooftop pool, full furniture package from Banyan Group, and direct access to Banyan Tree Spa, Laguna Golf Course, Boat Avenue, and Porto de Phuket.

• 1BR from $338K (55–57 sqm)
• 2BR: 83–85 sqm
• 3BR up to $1.11M (112–113 sqm)
• Delivery: December 31, 2027
• Construction phase: January 2026 – December 2027

The Aster represents a “buy early in the construction cycle” opportunity — buyers purchasing in March 2026 are entering at the earliest point with 21 months of construction appreciation potential before handover.

Garrya Phuket Residences: Wellness Beachfront on Track

The Residences at Garrya Phuket — 38 units positioned 200 metres from Bang Tao Beach under the Banyan Group’s wellness-focused Garrya brand — remains on schedule for Q2 2027 delivery. At $8,300/sqm average, this is the premium-priced Lakelands project, targeting buyers who prioritise the Garrya wellness brand (preventive health programming, mindfulness, curated spa access) over pure yield arithmetic.

The small scale (38 units across 4 buildings) creates scarcity value that larger condo developments cannot replicate. Resale liquidity for branded, beachfront-proximate wellness residences in Phuket has historically been strong among HNW European and Singaporean buyers.

What the $2B Masterplan Means for Property Values

The Laguna Lakelands masterplan is Phuket’s largest single-developer commitment since Laguna Resort itself was built in the 1980s. The long-term implications for existing and incoming buyers:

Positive factors:

• Sustained infrastructure investment (lakes, trails, retail, F&B) drives area amenity and desirability
• Banyan Group’s SET-listed parent (Laguna Resorts & Hotels PLC) provides balance-sheet credibility
• 5,000 units over 10 years = controlled supply, not a flood
• International marketing machine keeps Bang Tao at the top of global investor awareness

Risks to monitor:

• Execution risk over a 10-year horizon — phase timelines may shift
• Premium pricing ($6,100–$8,300/sqm) limits yield appeal vs. lower-priced Rawai alternatives
• THB/USD movement affects USD-denominated returns

Frequently Asked Questions

Frequently Asked Questions

When does Skypark Elara Lakelands deliver? +

October 2026. Buyers purchasing in Q1–Q2 2026 are looking at a 4–8 month construction tail. This is the most imminent delivery in the Laguna Lakelands masterplan portfolio.

What is the difference between Skypark Elara and Laguna Lake Residences Aster? +

Skypark Elara delivers in October 2026 at $6,100/sqm with lake views. Laguna Aster delivers in December 2027 at similar pricing but with a 60m infinity rooftop pool, full Banyan Group furniture pack, and closer proximity to Banyan Tree Spa and Laguna Golf. Aster is positioned as the step-up product.

Is the Laguna Lakelands $2 billion masterplan confirmed? +

Yes. Banyan Group (the development arm of Laguna Resorts & Hotels PLC, listed on the Stock Exchange of Thailand since 1993) announced the masterplan formally in February 2024. Multiple projects within it are already under construction or delivered. The SET listing provides public financial accountability.

Can foreigners buy freehold in Laguna Lakelands projects? +

Yes, condominiums in the masterplan (Skypark Elara, Laguna Aster, Garrya) are available in the 49% foreign condominium quota under the Thai Condominium Act. Always verify remaining quota before reserving. Laguna Homes villas are typically leasehold for foreigners.

What is the rental yield potential for Laguna Lakelands condos? +

Gross yields in the Laguna zone are estimated at 5.5–8.5%, with net yields averaging around 4.8% after management. Garrya's wellness brand commands premium ADR. Skypark Elara's scale (220 units) benefits from a professional rental management infrastructure already operating in the Laguna resort.

Read Also

• Laguna Lakelands Masterplan: Full Guide
• Skypark Elara Lakelands: Full Review 2026
• Laguna Lake Residences Aster: Review 2026
• Banyan Group Phuket: Developer Review
• Bang Tao & Laguna Property Guide

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