SUTL Enterprise Partners UEM Sunrise to Develop Puteri Harbour Marinas Under ONE15 Brand
In a landmark agreement signed on 22 February 2016, (Monday), SUTL Enterprise Limited, marina developer, operator and owner of the ONE15 brand and the ONE15 Marina Club in Sentosa, entered an agreement with Malaysia’s UEM Sunrise to establish a joint venture (JV) company to develop a private, a mega yacht and a public marina in Puteri Harbour in Iskandar Malaysia, Johor. All three will bear the ONE15 brand.
The existing public marina comprises 76 wet berths serving boats up to 40m. The project will add another 72 wet berths, expanding the public area to 3,550 m2 by 2016. To be constructed by early 2018, the private marina will be located on 77,295 m2 of water and accommodate up to 278 berths. Located between the private and public marinas, the mega-yacht marina will accommodate up to 14 mega-yachts.
A new private clubhouse will sit on 4,856.2 m2 of land and amenities will include an 80-room hotel, fitness centre, three swimming pools, yacht chartering, a ballroom, four meeting rooms, KTV Lounge with golf simulators, kids’ club, eight retail outlets, spa and additional sports facilities.
The project’s estimated cost is S$66.6 million in cash and in kind. SUTL Enterprise holds 60% of the JV company and its projected contribution is S$40.0 million.
The Puteri Harbour project will be SUTL Enterprise’s second overseas project bearing the ONE15 brand after the ONE15 Brooklyn Marina in New York, USA, which is managed by the Group.
Click here to view the press release for more on the Puteri Harbour project.