Singapore Develop Becomes Part Of Bt579M Project In Phuket

Those looking to enjoy Similan Island Diving via Phuket should be expecting a new marina in the city, as Singapore’s SUTL Enterprise Limited, known as the owner of the ONE°15 Marina at Sentosa Cove, has recently just bought a majority stake amounting to 60% of a local Thai company that is set to build a new marina at Ao Makham’s Deep Sea Port, in Southeast Phuket.

The new project will be  a 171-marina, built alongside a complimentary 66-room hotel, to be built on the 24-rai plot across it. According to SUTL’s announcement made on the 22nd of February, the company had entered a deal; a conditional sale, plus a purchase agreement for 60% stake holdings for the Bangkok-based Makham Bay Marina Co. Ltd. (MBM), for a total transaction cost of S$5.6M(Bt133.5M).

The announcement also says that MBM already the construction permits, as well as the development rights, for the proposed marina construction at Makham Bay, Phuket, Thailand. SUTL says that, thanks to the deal made, it holds ownership of the land and water area in leasehold for 3 decades. The terms of the deal states that SUTL will be a major contributor to the marina project, participating throughout its construction, from the design to the development, and its operation, including maintenance.

The project is expected to cost approximately S$24.3M(Bt579,296,120.80), and will bear the ONE°15 brand, as confirmed in the statement detailing the deal.

The marina club will function as a new lifestyle resort in the area, complete with yacht chartering, a spa and wellness for R&R, plus hotel facilities for members and the general public alike. The 171-berth marina will be designed to handle yachts up to 200 feet in size, with complimentary 25-hard-stand spaces. Other facilities include boat brokers’ offices, dive operators for those interested in Similan Island Diving, retail stores, and other nautical lifestyle outlets.

SUTL says that the new project, upon completion, will be the first integrated marina club located in the southern reaches of Phuket, located alongside the island’s luxury resorts. The company says that this new project follows their vision of promoting the marina and yachting industry.

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