ONE°15 makes first overseas foray

Singapore-based marina club and property developer, ONE°15 is making its first overseas foray.

It signed a memorandum of understanding on Monday with Vietnamese company Vung Ro Petroleum to develop an integrated marina resort in Vung Ro Bay, Vietnam.

They aim to develop ONE°15 Vung Ro Bay Marina Resort into an international nautical hub. It will comprise a private members’ club, marina berths, hotel, dining and retail outlets, as well as exclusive boutique villas.

The gross commercial area will total approximately 200,000 square metres.

This is ONE°15’s first overseas investment outside of Singapore.

ONE°15 said it is keen to help build the marina property business in the region, and is actively pursuing marina projects in Vietnam, Korea, Malaysia, Thailand, Sri Lanka and China.

As of March 2014, Singapore is the third largest foreign investor in Vietnam, with about S$38 billion in registered cumulative investments in more than 1,000 projects.

Source : Channel NewsAsia – 26 May 2014

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