Bintan

Given its close proximity to Singapore, Bintan is well positioned to tap into the more than 9 million leisure and business visitors who come to city state annually, on top of Singapore’s residents. As such, Bintan island has become known as Singapore’s most convenient resort destination and recent infrastructural developments are aiming to reinforce its position. Key among them are two ‘new-generation’ ferries which will soon be cruising the waters between Bintan and Singapore. Bintan Resort Ferries, a subsidiary of Singapore-listed Gallant Venture Limited, has awarded Dutch shipbuilder Damen Shipyards Gorinchem a S$31 million contract to build the ferries, which are expected to be delivered and operational in the first quarter of 2009.

It’s the latest investment from Bintan Resorts to strengthen service to its current resorts, including Banyan Tree, Club Med, Bintan Lagoon and Nirwana, as well as the upcoming Lagoi Bay, a master-planned integrated development launched in April 2007. Lagoi Bay will include a large residential component, including estates and condos, as well as further beachfront resorts and hotels, commercial districts, a golf course and a marina. With a top speed of up to 37 knots, the new 300-seat ferries will shorten the current travelling time to Bintan from 55 minutes to 45 minutes.
Condos
Condominiums are becoming an increasingly popular option for overseas investors on the island, and several major developments are incorporating condo units. The Genting Group’s upcoming project, which is set to give the island a major facelift by transforming it into an IT and medical tourism hub over the next eight years, is among mixed-use developments set to include a condo aspect. The ‘Treasure Bay’ development, which will be built on a 342 ha site on Bintan’s Lagoi area, will include 745 luxury villa sites with boat berthing facilities, marinas as well as a range of hillside condominiums. A casino for the general public, a six-star hotel, shops and a wellness centre will also feature. The project is expected to cost in the region of US$1.5 billion.

Houses and Land
Among the most high profile villa developments to arrive on Bintan in recent years is the Banyan Tree Residences – a Lagoi Bay mixed-use development launched in 2007. Banyan Tree Residences is targeting the type of top-tier travellers and investors that frequent the Group’s range of 21 hotels and resorts in city, beach and mountain resort locations, as well as its 58 spas and two golf courses, including the Greg Norman-designed 18-hole layout in Bintan.
The Banyan Tree Residences concept allows investors to buy their own villa, townhouse or apartment that becomes part of the inventory of these exclusive resorts. Owners receive an annual guaranteed return of 6 per cent per annum for six years, with options to renew or share in revenues generated by the property. Owners are entitled to 60 days’ complimentary use of their residence every year, membership at the exclusive Banyan Tree Residence Club and access to the Banyan Tree Private Collection, Asia’s first Destination Club. Banyan Tree properties include maintenance, cleaning, landscaping and security, while owners enjoy access to hotel amenities and services. In the first quarter of 2008, 29 units totaling S$51.2 million were sold, up 450 per cent from the same time last year. Sales were at S$9.2 million during Banyan Tree Residences’ first quarter.

Bintan is also the subject of fresh interest from investors and resort operators following the release of the masterplan for Lagoi Bay. An integrated resort development, Lagoi Bay will feature further resorts but also residences, shopping outlets, restaurants, and entertainment and sea-sports facilities. Situated on the island’s north coast, Lagoi Bay is located within Bintan Resorts, the expansive integrated beach resort destination that currently includes 10 resorts, including Banyan Tree and Angsana. The Lagoi Bay site, a 15-minute drive from the international ferry terminal, is about 1,300 hectares in size.
A total of 33 sites ranging from 2,000sqm to 19 hectares (190,000sqm) are being offered in the first phase for a variety of uses, including residential, resort and commercial developments. All sites have close proximity to the beach and road access, and will be served by power, potable water, telecommunications, sewer lines and solid waste collection. With the number of visitor arrivals to Bintan island targeted to reach one million by 2012 from the current 320,000 and growing awareness of Bintan as a resort destination, occupancy and average daily rates are both expected to rise, increasing the potential for investors to generate significant returns.
The new Lagoi Bay site is expected to receive strong interest from developers looking to build on Bintan’s strong tourism infrastructure, where the top-class resorts offer golf, spa, watersports, and nature and culture tours. Bintan is also building on not just visitors from Singapore, but tourists looking for both city and beach resort attractions during their visit to the region, with Bintan acting as a ‘twin destination’.