Positioned in the fantastic Southeast Asia yacht charter destination – Singapore, the ONE° 15 Marina Club, an award-winning private superyacht marina club and integrated marina property developer, is delighted to announce its Memorandum of Understanding (MoU) with Vung Ro Petroleum Co. Ltd, an independent petroleum company based in Vietnam. This will see the companies develop an integrated superyacht marina resort in Vung Ro Bay, Vietnam.
Signing Ceremony
The MoU was signed by Mr. Arthur Tay, Chairman and CEO of ONE ̊15 Marina Club and SUTL Group of Companies and Mr. Kirill Korolev, CEO and General Director of Vung Ro Petroleum Co. at ONEo15 Marina Club at 10am, Monday, 26 May 2014.
This is ONE°15 Marina Club’s first luxury yacht marina property in Vietnam and is also its first partnership with Vung Ro Petroleum Co., who is backed by the Rose Rock Group, an investment management and real estate development firm founded by the Rockefeller family.
To be named ONE15 Vung Ro Bay Marina Resort, the development aims to become an international nautical hub with its superb location and natural deep water and sheltered bay. The iconic destination will comprise of a private members club, marina berths, hotel, dining, retail outlets, and a collection of exclusive boutique villas.
Kirill Korolev, CEO and General Director of Vung Ro Petroleum Co. says: “the MOU signing opens new horizons for the entire Vung Ro Bay development that will emphasize sustainable development and focus on creating an extraordinary thriving ecology of education, healthy living, lifestyle and culture.”
Ideally located in the Phu Yen Province of Vietnam with direct links to Tuy Hoa and its Dong Tac Airport, Vung Ro Bay development is a convenient location for both tourists and residents alike. The development will comprise several hotels with over 760 rooms, 4,300 apartments, 100 luxury townhouses, a variety of retail shops and a 400m sandy beach as well as the marina berths.
The gross commercial area will total approximately 200,000 square meters, providing space for schools, healthcare facilities, retailing, leisure and entertainment complexes as well as the ONE15 Vung Ro Bay marina. Already garnering international support, the Vung Ro Bay Master Plan won the Silver Award at MIPIM in Hong Kong in November 2013 as a travel and living destination.
Mr. Arthur Tay, Chairman of ONE ̊15 Marina Club and SUTL Group of Companies, enthuses: “the creation of the ONE15 Vung Ro Marina Resort is the start of something very exciting for ONE ̊15 Marina Club and SUTL. In Asia, we are seeing more and more aspiring generations wanting to embrace new lifestyle choices such as yachting and waterfront living. As an integrated marina property developer we believe in sharing what we know to help build the marina property business in the region, and are actively pursuing marina projects in Vietnam, Korea, Malaysia, Thailand, Sri Lanka and China. 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 and marina activities. These developments present many opportunities for us. This collaboration with Vung Ro Petroleum Co. is certainly a step in the right direction for us.”
His Excellency Tran Hai Hau, Ambassador of the Socialist Republic of Vietnam in Singapore states: “I do appreciate it to be present at the ceremony because I believe that this collaboration and strategic partnership is an excellent example of the ever-growing multifaceted relations of friendship and cooperation between Vietnam and Singapore”.
