Chief operating officer Datuk Roslan Ibrahim said costing about RM150mil, the project is a joint-venture between the company and Singapore’s SUTL Enterprise Ltd.
The latter is a leading developer, operator and consultant of integrated marinas and it is currently the only marina business to be listed in the Singapore Stock Exchange.
The company develops infrastructure for integrated marinas and also provides consultancy services for such projects.
According to its website, it also operates its own marinas under its propriety ONE 15 brand, as well as those of third parties under management contract.
“The project is slated for completion June 2020 with us holding 40% equity and our Singapore partner having 60% equity in the joint venture company,’’ he said.
Roslan said this during the flagging-off the third edition of the Challenge Iskandar Puteri Triathlon 2018 at Puteri Harbour public marina here on Sunday with 800 triathletes taking part in the event.
He said among the components in the project including berth facilities to accommodate mega yachts, club house, serviced apartments and restaurants.
“Luxury yachting is a big business and owners of these luxury yachts are millionaires and billionaires who love travelling on high seas,’’ said Roslan.
Separately, he said the company would be launching two new housing projects – one at Gerbang Nusajaya on 12.14ha site in the third-quarter of the year and another one on a 16.18ha site in 2019.
He said both projects would offer double-storey link houses with indicative average pricing below RM600,000 each as demand for landed properties remained good in Iskandar Malaysia.
“The influx of domestic and foreign investors and new residents into Iskandar Malaysia will continue to drive demand for properties in south Johor,’’ said Roslan.