Luxury resort developer and operator ONE°15 Marina Club of Singapore this week signed a memorandum of understanding to build Vietnam’s latest integrated marina resort.

Developed in partnership with the Rockefeller family’s Rose Rock Group-backed Vung Ro Petroleum, the ONE15 Vung Ro Bay Marina Resort will comprise five-star hotels with more than 760 rooms, 4,300 apartments, 100 luxury townhouses, a 200,000 sqm commercial centre and several marina docks for 300 boats.

The waterfront resort, which is being developed in response to the increasingly popular boating and yachting scene in the region, will be the company’s first overseas marina project. The company is planning to build another resort in Ho Chi Minh City, the Vietnam News Agency reported.

“In Asia, we are seeing more and more aspiring generations wanting to embrace new lifestyle choices such as yachting and waterfront living,” ONE°15’s chairman and CEO Arthur Tay told the Business Times Singapore.

“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,” he added.

The USD2.5 billion Vung Ro Bay development will also include schools, healthcare facilities, restaurants and an entertainment complex.

Source: www.property-report.com