PEOPLE Visionary
BUILDING DREAMS
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HACHI YIN, the CEO of Utopia Corporation, is one of Phuket’s leading property developers. He shares with neetinder dhillon how success and happiness, in personal life and in business, both take work
topia Corporation, led by the charismatic and energetic Hachi Yin, is quietly changing the nature of the real estate business on Phuket. With the air of a TEDx speaker, this 39-year-old real estate magnate, dressed in a casual white T-shirt, exudes a boyish charm that masks the savvy investor within – one who has developed and built several real estate projects on Phuket in a four-year span, with an investment value of over THB 8 billion. The numbers tell the rest of the story: apartments, villas, and commercial complexes totalling 120,000 square metres and approximately 2,000 keys. Established in 2015, Utopia Corporation – which plans to go public in 2025 – also incorporates Utopia Hospitality Group and Zeus Teknology. Spread across Phuket, Thailand’s most popular beach destination island, are Utopia’s Kata, Naiharn, Loft, Central, Karon, Maikhao, Thalang, and Yamu projects, each offering a themed lifestyle; the first on Phuket to do so. “We make it easy for the owners to own a piece of their imagination,” Hachi tells me. Currently under construction are Utopia Dream, and Southeast Asia’s first Tonino Lamborghini hotel (with a high-end fashion brand resort in the pipeline as well). The two hotels will anchor Hachi’s mega Bay of Icons project, which is located on Phuket’s sunrise coast overlooking Phang Nga Bay. Spread over 20 rai around the Ao Po Grand Marina, Hachi has planned an ultraluxe lifestyle and leisure residential enclave with bespoke services. Think the Marbella waterfront crossed with Hollywood’s Rodeo Drive. “Many cities have instantly recognisable areas – Hollywood, Sentosa, The Peaks in Hong Kong,” he explains. “Bay of Icons is creating that space for Phuket.” The Phuket community, according to Hachi, is loving the idea. “They’re appreciative that someone is daring enough to create this. Phuket has luxury hotels, but travellers are looking for more.” Sustainability for the project, he adds, will come from several initiatives, including solar power, greywater systems, and eco-friendly materials. “Like our other projects, the percentage of green area will be more than the built-up area.” As for expansion outside of Phuket, Utopia is looking at both mainland Thailand, and Southeast Asia in general. “Our projects are a showcase of what we can achieve. We can recreate this in any city in the world.” Showcasing Phuket during the pandemic has had the Utopia Corporation pivoting. Hachi’s solution: immersive virtual showrooms with ‘live filming’ connecting the buyer to the space. “We started in 2019. Our clients were already online browsing master plans, taking virtual tours, and booking video calls. The live filming of our projects, and surrounding areas, helped too. In the China market, some of our live filming got as many as 80,000 viewers.” Utopia sold 120 units last year, although Hachi admits that is “less
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than half of our business pre-pandemic. But considering everything, the team did an excellent job. It is not just about technology, it’s also about team spirit. If the team is not passionate when they’re doing the filming, you won’t have a sale.” An Australian of Chinese descent, Hachi arrived in Phuket nine years ago to help his aunt with her real estate business. “My aunt, a developer in Melbourne, decided to branch out and saw the potential in Phuket,” he recounts. “Unfortunately, she passed away a few years ago, and that’s when I took on the CEO role. She inspired me and mentored me throughout my life.” Melbourne, however, is where the real estate bug first bit Hachi. It’s also where he grew up, together with his younger brother, having arrived at the age of two, along with his parents, from Shandong, China. Melbourne is also where he graduated, earning a degree in Pharmacology and Anatomy. “My parents wanted me to study Medicine but were happy I was studying to be a nutritionist. I struggled, but I did it for them. I even worked as a nutritionist in a local hospital. But it wasn’t for me.” When Phuket eventually beckoned, he heeded the siren’s call. And it was in Phuket that Hachi met his Thai wife, Patumwadee Thongkom. “The pandemic kept delaying the wedding, so to keep the parents happy we married this August.” Speaking of parents, the newlywed CEO says, “They taught me to believe in myself.” That sentiment, together with his mantra “dare to dream”, underlines Hachi’s philosophy. “Our dreams at Utopia Corporation are just getting bigger. I believe in work hard, play harder. We spend a third of our lives either studying or working, so it’s important to enjoy life too. We apply it in our company and have a monthly pool party. Life is short – grasp every moment, every chance!” He also underlines the importance of habits, routines and training. “We need routines in life. We train each of our members to create that routine and to self-motivate.” When it comes to happiness, he remarks that it takes effort. “At work, my happiness is to create the best company to work for. At home, it’s to see my family healthy and happy.” So, how does he unwind? “I love learning, and I love technology. I love reading about what I love. I also love comic books.” His playbook, though, is Richard Branson’s Losing My Virginity: How I Survived, Had Fun, and Made a Fortune Doing Business My Way. “Branson inspired me. I learned so much from him. Even about real estate – him buying Necker Island when everyone thought he was crazy. But hey, how much is it worth now?” Jack Ma, Mark Zuckerberg, Tony Hsieh also fascinate him, and yes, he loves video games too – of the RPG variety – with Final Fantasy being the current favourite. As for Phuket and future tourism, he remains hopeful, advising it’s best to be patient, “Think about all the cooped-up people that are desperate to travel. Let’s be ready for the doors to open. My question is: Are we ready?”
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9/28/21 11:45