New resort launched

New resort launched

SINGAPORE (Reuter): Laguna Bintan, part of the 23,000-hectare Bintan Beach International Resort in Indonesia, and jointly developed by DBS Land and an Indonesian company, was launched on Saturday, the companies said.

A joint press release by DBS Land and Indonesia's Tropical Resorts Ltd (TRL) said the 423-hectare Laguna Bintan is an equal joint venture project between TRL and DBS Land's wholly-owned subsidiary Amethyst Holdings Pte Ltd.

TRL is a subsidiary of Wah Chang. The project will initially involve a Singapore US$600 million investment in hotels, resort condominiums and homes integrated with an 18-hole golf course.

The first phase covering some 220 hectares will be completed by 1998. When fully developed, Laguna Bintan's resort developments will contribute to the overall success of Bintan as one of the more exciting island resort destinations in the region, said DBS Land's Deputy Chairman and Chief Executive Officer Han Cheng Fong.