Phu Yen selected as site for US$2.5 billion marina

Singapore-based marina club and property developer, ONE°15 has announced it has selected Vung Ro Bay in the central coastal province of Phu Yen to make its first overseas investment.

It signed a memorandum of understanding (MoU) on May 26 with Vietnamese company Vung Ro Petroleum to develop a US$2.5 billion integrated marina resort in Vung Ro Bay.

The joint venture aims to transform the marina into one of the world’s finest yachting havens offering a comprehensive range of luxurious private club amenities catering, including a docking point for 350 yachts.

Plans also include for development of a 650-meter long shopping road in the centre of the project, providing luxury residential housing units for lease including ample space for schools, healthcare stations, outlets and entertainment. It will offer many kinds of the customary sports under-water activities.