SUTL secures 10-year management contract for new Suzhou marina

OWNER of the ONE°15 brand SUTL Enterprise has secured its second management contract in China for an upcoming integrated marina, located at Sanshan Island in Taihu Lake, Suzhou.

The 10-year contract was awarded by the master developer for the project Suzhou Taihu SanShan Island Marina, which holds the land and water rights for the upcoming waterfront development, which will comprise a private marina, yacht membership club and marina facilities. There are also plans for a clubhouse, the mainboard-listed company said in an SGX filing on Tuesday.

Located just 45 km from Suzhou City Centre and easily accessible, the new marina will carry SUTL Enterprise's ONE°15 brand.

The group, a leading developer, operator and consultant of integrated marinas, will be involved in the conceptualisation, design and specifications and pre-opening management of the marina. It will be managing its day-to-day operations, club membership sale and related matters.

SUTL Enterprise executive director and chief executive officer Arthur Tay said that Sanshan Island attracts more than a million visitors every year, with visitor numbers increasing "more than 10 per cent year-on-year".

"Located within the affluent Yangtze River Delta region, it is easily accessible and located close to economic powerhouse cities such as Shanghai, Hangzhou, Nanjing, Wuxi and Ningbo with their affluent populace, which is our target market. We believe that having a well managed integrated marina club will enhance Sanshan Island's tourism appeal and attract a new segment of visitors with high spending power," he said.

The group is currently providing consultancy and management services to ONE°15 Marina Guishan, another marina under construction in Zhuhai which is scheduled for completion in 2019.