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SUTL Enterprise bags management contract for new China integrated marina
MARINA developer and operator SUTL Enterprise has secured a management contract for the day-to-day operations of a proposed integrated marina in China's Guangdong province, the company said in a filing on Tuesday.
The company's wholly owned subsidiary, ONE15 Management and Technical Services, has entered into an agreement on Dec 27, 2018 with the project's master developer Sunsea Yacht Club (Zhongshan), to manage, operate and maintain the marina and its facilities.
The contract - which started on Jan 1, 2019 and will last five years till Dec 31, 2023 unless it was terminated earlier - was awarded by Sunsea Yacht Club, which holds the land and water rights for the waterfront development - branded ONE°15 Marina Zhongshan China.
Phase one of the marina, which was completed in 2017, is fully operational and comprises 80 wet berths and 42 waterfront villas with private berths. When fully completed, the development will comprise a private marina with about 158 wet berths and marina-related facilities, a member clubhouse, hotel accommodations and lifestyle and fitness amenities.
SUTL Enterprise also said that the development houses Guangdong’s first customs, immigration, quarantine and port-clearance post within a private marina, and is the first direct sailing gateway between Zhongshan and Macau.
ONE°15 Marina Zhongshan China is the ninth marina in the group's portfolio. The company is also developing an integrated marina in Phuket, Thailand.
SUTL Enterprise executive director and chief executive officer, Arthur Tay, said: "ONE°15 Marina Zhongshan China serves as a key gateway between the key affluent coastal cities of Guangdong, Hong Kong and Macau, facilitated by the opening of direct sailing routes between Zhongshan and Macau for the first time.
"Over the years, we have witnessed rising interest in the waterfront and yachting lifestyle in China, which is reflected in the efforts of provincial governments to build more marina infrastructure along China’s coastal regions."