Vietnam Marina Development: ONE°15 Vung Ro Bay Marina Resort
Tue, 22 Jul 2014
A Memorandum of Understanding to develop an integrated marina resort in Vung Ro Bay, Vietnam, has been signed between ONE°15 Marina Club (Singapore) and Vung Ro Petroleum Co. Ltd, an independent petroleum company based in Vietnam. The MoU was signed by Mr. Arthur Tay, Chairman and CEO of ONE 15 Marina Club and the SUTL Group of Companies and Mr. Kirill Korolev, CEO and General Director of Vung Ro Petroleum Co.
This will be ONE°15 Marina Club’s first marina property in Vietnam and is also its first partnership with Vung Ro Petroleum Co., who are backed by the Rose Rock Group, an investment management and real estate development firm founded by the Rockefeller family. To be named ONE°15 Vung Ro Bay Marina Resort, the development aims to become an international nautical hub based on its superb location and natural deep water and sheltered bay. Vung Ro Bay is a convenient location for both tourists and residents alike, located in the Phu Yen Province of Vietnam with direct links to Tuy Hoa and Dong Tac Airport.
The development will include several hotels with a total of 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 ONE°15 Vung Ro Bay Marina.
The Vung Ro Bay Master Plan won the Silver Award at MIPIM in Hong Kong in November 2013, but rumours that The Yacht Harbour Association has awarded the new marina 5 Gold Anchors before it is even built are yet to be proven.