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SUTL acquires 60% stake in Makham Bay Marina to develop ONE°15 marina club in Phuket

Samantha Chiew Published on Thu, Feb 22, 2018 / 6:53 PM GMT+8

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SINGAPORE (Feb 22): SUTL Enterprise is acquiring a 60% stake in Thailand-based Makham Bay Marina (MBM) for $5.6 million.

MBM has construction permits and development rights for a proposed marina to be located at Makham Bay, Phuket, for which it holds the land site and accompanying water area body for a 30-year leasehold period.

Under the sale and purchase agreement, the group will be involved in the design, construction, development, operation and maintenance of the integrated marina club and its facilities.

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