| |
The
Business Times, 17 Apr 04
Top-class operators wanted for Sentosa Cove
marina
by Vince Chong
IF YOU'RE not a five-star, or rather, 'five-anchor' operator, forget
about bidding for Sentosa Cove's 240-berth marina, which was launched
yesterday in a tender that closes on July 9.
Sentosa Cove Pte Ltd (SCPL), which is overseeing development of the
2,600-home and marina hub of the same name on Singapore's tourism
isle of Sentosa, wants only top acts for its crown jewel, chief executive
Bernard Kong said at a media briefing.
Bidders for the 30+3-year-lease marina, which is designed to host
mega yachts, will be gauged by UK-based ratings agency Yacht Harbour
Association. On its website, YHA rates operators of establishments
such as Akuna Bay Marina in Australia, Atakoy Marina in Turkey and
Singapore's own Raffles Marina among the top 'Five Gold Anchors'.
YHA explained: 'The level of the award ranges from three to five Gold
Anchors. Any award is a sign of a quality marina, while the number
of anchors indicates the level of the facilities available. 'The scheme
is purely voluntary and is designed to bring the industry to the forefront
of boating and to encourage better standards.'
Raffles Marina cost $100 million to build, but a marine industry veteran
reckons the one at Sentosa Cove could cost about $60 million to $65
million, given SCPL has spent $20 million to $25 million on infrastructure.
'SCPL has to balance the situation,' he said. 'They may sell the marina
cheaper but they will be able to get it back from selling the residential
plots, since the marina will raise the value of the homes. But it's
basically untested waters. Also, rating agencies haven't yet caught
on in the same way as, say, on hotels.'
SCPL said yesterday that once the tender is awarded, the operator
will have 36 months to build the marina's clubhouse, facilities and
100 berths, including 10 for mega yachts.
A record 4.2 million people visited Sentosa in the fiscal year ended
March, said Darrell Metzger, CEO of SCPL's parent Sentosa Leisure
Group. This was up from the 4.1 million visitors in 2002/2003.
'In the next few months, or even weeks, construction will start on
homes at Sentosa Cove and in a few months, we'll release the concept
on the Southern Islands,'
Mr Metzger said. 'It's important to establish the marina as the lifestyle
anchor for the rest of Sentosa.' Mr Kong said the project won't be
tendered on price alone. 'There'll be a question-and-answer session
maybe six weeks into the 12-week tender process and we'll be reviewing
business plans and proposals,' he said, adding that operators from
the US, Europe and Australia have enquired about the project. |
|
