The development, which consists of several themed resorts and other components, sits on 338ha of leasehold land and has an estimated gross development value (GDV) of US$3.5 billion (RM11.27 billion). The entire development will be built with strategic partners and investors.
“We’re proud of this flagship project in Bintan as it will be the preferred island destination in Asia. We believe the wellness and health concept the resort carries, with two internationally known wellness resorts such as Canyon Ranch and Chiva-Som being part of our health resort, people will enjoy their time in Treasure Bay Bintan,” said Treasure Bay Bintan Pte Ltd chief operating officer Paul Leong in a signing ceremony between Landmarks Bhd and the two internationally-renowned wellness resorts in Singapore recently.
The group is expecting 1,500 rooms to be added to Bintan’s current 1,375 rooms upon the completion of Treasure Bay Bintan’s first phase.
Its first phase, spanning 90ha, will comprise 6.3ha of crystal clear water lagoon, aquatic sports facilities, bars and restaurants, retail areas, and eight hotels and a wellness resort managed by Canyon Ranch. The first phase also will have a 20ha organic farm producing fruit and vegetables.
According to Landmarks, 60% of the hotels will be operated by well-known international and boutique operators.
“It is intended that Treasure Bay Bintan’s food and beverage outlets will also benefit from the cultivation of free-range poultry and freshwater farming,” said Leong.
The entire development of Treasure Bay Bintan has three phases and the resort will be fully developed in 20 years.
Landmarks is expected to launch the second phase of Treasure Bay Bintan in the next three years. The second phase is currently in the design stage, and construction is scheduled to commence in 2016 ahead of its launch.
The second phase will comprise an iconic building known as the Ring Resort, water villas, a second wellness resort known as Chiva-Som, and commercial and residential spaces.
The group expects tourist arrivals into Bintan to double by 2017.
“With other developments across Bintan, it is the intention of stakeholders to offer not less than 5,000 rooms by 2017, competing with Langkawi that has 7,000 rooms currently.
“Bintan International Airport, which is scheduled to be operational by 2016 will add to and improve connectivity of Bintan to Singapore, Malaysia and the rest of Indonesia,” he said.
This article first appeared in The Edge Financial Daily, on June 20, 2014.
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