SINGAPORE-Mainboard-listed marina developer SUTL Enterprise on Thursday (March 14) announced that its joint venture with Malaysian property developer, UEM Sunrise Berhad, has begun construction of a new marina in Johor.
The joint venture company, ONE15 Marina Development Bhd, first revealed plans for the ONE°15 Marina Puteri Harbour Malaysia in February 2016, and was granted approval for the sale of memberships in December last year.
Social and boating membership fees for the private marina club are expected to start at RM40,000 (S$13,246) and RM50,000 respectively, with a monthly subscription thereafter at RM150. The Business Times understands that those who sign up early will also receive a RM5,000 discount on the one-off membership fee, accommodation and F&B vouchers at One15 Marina Sentosa Cove, complimentary yacht charters and access to reciprocal clubs.
Membership sales will begin in tandem with construction of the marina, which is expected to be completed by 2020. ONE°15 Marina Puteri Harbour Malaysia members will be able to charter yachts either from Sentosa Cove or the Puteri Harbour.
Among other things, the 13,616 square metre private clubhouse will include a full-service private marina with 207 berths, 77 deluxe hotel rooms and suites, meeting rooms, a 320-seat ballroom, gym, swimming pool and retail outlets. The nearby ONE15 Estuari Sports Centre will also offer sports and recreational activities, SUTL Enterprise said.
ONE15 Marina Development Bhd is now in the process of setting up a marketing gallery at Puteri Cove Residences, which is near to the site of the upcoming marina. The gallery, to be launched in May this year, will showcase key features of the marina and include a scale model of the project.
The new development is targeted at Malaysians, as well as expatriates living in Johor, or those who own property there. "The new marina caters to affluent families, as well as singles and millennials who enjoy the waterfront lifestyle away from the hustle and bustle of city life," said the company.
Arthur Tay, SUTL Enterprise executive director and CEO said: "The upcoming marina will greatly complement our existing ONE°15 Marina Sentosa Cove Singapore, and create a new buzz for the region's boating community."
Anwar Syahrin Abdul Ajib, UEM Sunrise's managing director and chief executive said: "We believe that the expansion and development of a worldclass marina in Puteri Harbour will add to the vibrancy and attractiveness of Iskandar Puteri, and contribute towards transforming Iskandar Puteri into a truly sustainable community."Source: The Straits Times