BINTAN, INDONESIA Landmarks Bhd., a Kuala Lumpur-based luxury developer, has commenced construction of an 835-acre site on the coast of Bintan that aims to convert Treasure Bay into a world-class resort that could eventually rival neighboring Bali.
Also known as Pesona Lagoi Bintan, Treasure Bay will be developed in phases, with the first phase—about 222 acres with a development price tag of US$334 million—will open in 2014 with “an iconic luxury resort and serviced villas,” with a branding announcement forthcoming. Phase One will also include a marina, transportation terminal and several entertainment, retail and F&B outlets.
Landmarks is willing to release land within Treasure Bay for third-party investment and development, so long as the master plan is followed. “The developments that we are planning for our water resort city will set new benchmarks in the region, redefining what it means to be a world-class tourism destination,” says Paul Leong, chief operating officer for Treasure Bay. “In terms of scale and what we aim to achieve, this is one of the largest and most ambitious tourism developments to be announced in the region in recent years.”
Also known as Pesona Lagoi Bintan, Treasure Bay will be developed in phases, with the first phase—about 222 acres with a development price tag of US$334 million—will open in 2014 with “an iconic luxury resort and serviced villas,” with a branding announcement forthcoming. Phase One will also include a marina, transportation terminal and several entertainment, retail and F&B outlets.
Landmarks is willing to release land within Treasure Bay for third-party investment and development, so long as the master plan is followed. “The developments that we are planning for our water resort city will set new benchmarks in the region, redefining what it means to be a world-class tourism destination,” says Paul Leong, chief operating officer for Treasure Bay. “In terms of scale and what we aim to achieve, this is one of the largest and most ambitious tourism developments to be announced in the region in recent years.”