Mainboard-listed marina developer SUTL Enterprise said yesterday that its joint venture with Malaysian property developer UEM Sunrise has begun construction of a new marina in Johor.
The joint venture company, ONE15 Marina Development, first revealed plans for the ONE°15 Marina Puteri Harbour Malaysia in February 2016. It 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$13,263) and RM50,000 respectively, with a monthly subscription thereafter at RM150.
The Business Times understands that those who sign up early will also get a RM5,000 discount on the one-off membership fee, accommodation and F&B vouchers at ONE°15 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 next year.
ONE°15 Marina Puteri Harbour Malaysia members will be able to charter yachts from either Sentosa Cove or Puteri Harbour.
Among other things, the 13,616 sq m 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 is in the process of setting up a marketing gallery at Puteri Cove Residences, which is near the site of the upcoming marina.
The gallery, to be launched in May, 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 upcoming marina will greatly complement our existing ONE°15 Marina Sentosa Cove Singapore, and create new buzz for the region's boating community," said SUTL Enterprise chief executive Arthur Tay.
Said UEM Sunrise chief executive Anwar Syahrin Abdul Ajib: "We believe that the expansion and development of a world-class 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."