New Marinas for Superyachts: ONE°15 Marina Club Singapore had announced the completion of its 3rd Phase marina pontoons expansion in time to host the Singapore Yacht Show which takes place from 8 to 10 April, 2011. The expansion has created an additional 66 berths, added to the 204 already completed in Phase 1 and 2, and fulfils ONE°15 Marina Club’s promise to its members for a 270-berth marina.
ONE 15 Marina Club completes 3rd Phase of marina expansion creating a 270-berth marina in Singapore
The yachting community in Singapore has grown rapidly since the opening of the ONE°15 Marina Club in 2007. There are not only more boat owners in the area now, there have also been more superyachts stopping, signalling that the city-state has established itself as a truly global city and yachting lifestyle destination. In 2009, there were 59 superyachts that visited Singapore which increased to 81 in 2010.
ONE°15 Marina prides itself on contributing to the growing awareness among Singaporeans about yachting and the waterfront lifestyle. The Club has attracted and hosted international yachting events such as the Volvo Ocean Race in 2008-2009. In April, It will host the Singapore Yacht Show (SYS) – Asia’s first superyacht event. The SYS aims to bring together Asia’s high net-worth individuals and members of the superyacht industry in one location.
Mr Arthur Tay, Executive Chairman and CEO of SUTL Group, which owns ONE°15, said the Club was proud to have contributed to raising Singapore’s profile as a lifestyle destination and putting the city-state on the map amongst the global yachting community.
ONE 15 Marina Club completes 3rd Phase of marina expansion creating a 270-berth marina in Singapore
“Compared to the Mediterranean and the Caribbean, the yacht industry in Singapore is still in its infancy. The spinoffs from this industry are attractive and the economic benefits are encouraging as pursuing this niche will attract a different tier of wealthy individuals. That is why Singapore is targeting more than 200 annual visits from superyachts by 2015 and aiming to become the region’s leading yachting centre,” he commented.
SUTL is also interested in exploring overseas prospects. “We are actively pursuing marina projects in Vietnam, Korea and China. The fastest economic growth in the world is here in Asia and we are seeing more and more of the super wealthy wanting to embrace new lifestyle choices such as yachting and waterfront living. Be it seaside, lakeside or riverside, we expect to see more infrastructure being built to accommodate this growing demand and governments putting the appropriate regulatory environment in place for yachting activities. These developments present many opportunities for us,” added Mr Tay.
The Singapore-based SUTL was established in 1965 and has its roots in ship chandling but has since diversified, under Mr Tay’s leadership, into trading and distribution with a marketing network spanning 17 countries. The ONE°15 Marina Club marked the company’s first major venture into lifestyle products and services in Singapore. As well as its marina business, the company is also keen to extend its lifestyle arm, which currently constitutes 25% of its overall turnover, to other areas.
Mr Tay said: “SUTL is at an interesting cusp, where its established expertise in distribution will continue to revolutionise and grow, even as the company sprouts new lifestyle-driven ventures regionally that aim to bring new experiences to a burgeoning Asian market.”
To celebrate the completion of the final phase, ONE°15 is hosted a sundowner carnival for its members at the Club on March 19.
