MALAYSIAN-listed land developer Landmarks commenced construction of a second integrated resort development on Bintan over the weekend.
Treasure Bay, a water resort city built at a cost of S$425 million (US$334 million), will occupy 337 hectares on the northern coast of Bintan.
Gabriel Teo, executive director and COO of Landmarks, told TTG Asia e-Daily that the resort’s phase one site, which will span 89.7 hectares when completed by 2015, will be a high-end destination, although there will be room in other sites for different grades of accommodation and attractions.
The phase one site will comprise a multi-modal transportation terminal and marina that will cater to ferries and possibly sea planes and cruises, a resort built in a ring layout with 150 to 180 keys, a cluster of serviced villas with potentially 200 units, a wedding hall and an underwater 300-seat banquet hall extending from the resort into a manmade lagoon, as well as a collection of retail, F&B and entertainment outlets.
“We envision Bintan to be more than just a short-break destination when all these are complete,” Teo said.
A hotel management company has not yet been appointed for the resort and villas in phase one.