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Today,
17 Apr 04
The lure that is Sentosa Cove Marina
hopes to become hot cruise destination
by Val Chua val@newstoday.com.sg
FIRST it was a proposed casino to lure rich jet-setters. Soon, it
will be luxury-yacht owners setting course for Sentosa Cove, with
the island's marina opening yesterday for public tender.
Built at a cost of $20 million to $25 million, the marina is seeking
"world-class" operators to turn the site into a cruising destination
for the rich. "We expect mega-yachts to come here and use this as
a first stop to sail into the region. From Sentosa Cove you can sail
to Phuket or Langkawi, or as far as Cebu," said Mr Bernard Kong, chief
executive officer of Sentosa Cove, at a press event on Friday.
The marina, which will be operational in 2007, will berth up to 240
boats, including 10 mega-yachts, making it unrivalled in this part
of the world. "The next biggest is a marina in Hong Kong, which has
space for 300 to 400 boats, but it's not for mega-yachts," said Mr
Mike Derrett, a marine industry consultant.
There are about 3,000 mega-yachts in the world, with each costing
as much as an aircraft. Declining to specify a minimum tender price,
Mr Kong said: "We're hoping it's more than $20 million. But our choice
is not driven purely by price. The business plan must be good." By
that, he means the marina must be comparable with their highest quality
peers in the world, or five-anchor operators, the nautical equivalent
of five-star hotels.
The eventual operator, to be selected after the 12-week tender closes,
will then have another 36 months to complete the building of a clubhouse
and facilities, with an option to run a public ferry terminal for
easy access to the Southern Islands. The operator will then lease
the marina for 30 years, with the option to extend for three years.
Already, the marina — which comprises 1.37 ha of land for a clubhouse
and 12.4 ha of seabed — has attracted interest from Europeans, Americans,
Australians and local boating enthusiasts.
However, he expected a majority of the end-users to be Singaporeans.
There are some 6,000 boating enthusiasts here. As the marina is surrounded
by Sentosa Cove's proposed 2,600 houses, some of its residents are
also likely to use the new dock. .
The marina is part of a bigger plan to promote Aseanarean — the region's
marinas and yacht clubs — as an alternative to the Mediterranean and
the Carribean. "Aseanarean is three times bigger than the Mediterranean
and three times bigger than the Carribean, but it's vastly under-utilised,"
said Mr Derrett. "During winter, many mega-yachts would go to the
Mediterranean to escape winter. But now they can berth here for a
few months and cruise the region."
To service these yacht-owners from all over the world, there is the
proposed 320-room hotel on the 1.7-ha site just next to the new marina
as well. Tenders for the site are yet to be floated. Sentosa Cove
is also still waiting for the authorities to announce details that
will allow foreigners to bid for the second residential parcel, to
be launched by the end of this year. The tender for the first parcel
had closed in February this year, with 20 of the 22 plots awarded
successfully.
The buzz surrounding plans for Singapore's southern island prompted
Mr Kong, when asked what his biggest fear on the development of Sentosa
Cove is, to quip: "The concern is that I cannot sell all the land,
but I am confident that will not happen. Who knows, looking at all
this interest, I may not have enough land to sell."
As it is, the plots of land that have been sold so far — to the rich
and famous in Singapore — comprise just 6 per cent of the total 2,600
homes slated for sale in Sentosa Cove. "There are still a lot more
to go, but I would rather launch it bit by bit. I don't want to cause
indigestion in the market," he said. Design plans for the 99-year
leasehold bungalows are already being submitted and future visitors
can expect the architecture of homes on Sentosa Cove — including property
developer Ho Bee Group's six-storey condominium project — to be "very
different" from those found in Singapore, said Mr Kong. Balinese-styled
resorts will sit side by side with Renaissance-inspired bungalows.
But while the styles of the houses can "be different", architects
will have to conform to guidelines relating to the type of external
finishes so they won't be an "eye-sore", Mr Kong added. |
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