SUTL Enterprise Limited (“SUTL Enterprise”, the “Company” or together with its subsidiaries the “Group”), a leading marina developer, operator, consultancy services provider and owner of the ONE°15 brand, has secured its second management contract in Indonesia for an upcoming integrated marina at Nirup Island, which is located within close proximity of Singapore (8 nautical miles) and Batam.
Once completed, Nirup Island will be the closest resort island from Singapore with clear waters and a full suite of recreational amenities catering to visitors from Singapore, Malaysia, Indonesia, and beyond.
The 10-year contract was awarded by PT Tritunas Sinar Benua, an Indonesian company based in Batam. SUTL Enterprise will be consulting on the project, which is expected to commence construction in 2018 and completed in 12 to 18 months. Upon completion, the Group will manage the marina and its clubhouse under the name ONE°15 Marina Nirup Island. The Group has also secured the first rights of refusal for the purchase of the ONE°15 Marina Nirup Island assets should the property ever be up for sale in the future.
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