Property prices set for boost as Novaland seeks to develop yacht city to attract super rich

Thursday, Aug 25, 2022 10:08

Marinas attract the elite as they guarantee an appreciation in the price of real estate in their surrounding areas.

Located in the southern Mediterranean, in the blue sea off Naples, Capri Island, known as the luxury haunt where European aristocrats vacation, is home to Marina Grande, on average, the world's most affluent marina.

Marina Grande is nestled between craggy cliffs and colorful ancient buildings surrounded by luxury hotels and restaurants with amazing views.

The Marina Grande. Photo Courtesy

Capri is home to the world's most lavish yachts. It costs at least US$3,000 a night for a cruise ship to berth at Marina Grande and needs booking months in advance, especially in the high season.

Another famous marina in Italy is the Marina di Portofino where parking yachts costs around $2,000 per night.

Starting as a small fishing village in a private blue bay, Marina di Portofino has gradually been built into a playground for the super-rich and famous, including directors Steven Spielberg, Chris Martin from Coldplay, and singer Rihanna.

With its limited capacity of only 14 super yachts, berthing at Marina di Portofino is not easy and requires reservations many months in advance.

Thanks to the attraction of the marina, the property market in the Marina di Portofino area has shot up to $17,650 (more than VND400 million) per square meter.

Around the wharf are many restaurants, luxury hotels and high-class resorts that assure privacy to meet the needs of the elite.

The luxury Yas Marina in Abu Dhabi.

Super-rich people in the Middle East and Arab world also enjoy yachting. Located on Yas Island, the Yas Marina in Abu Dhabi which can anchor 40 big yachts and 300 small yachts at a time, has become the leading destination in the region for luxury yachts.

In 2013 a series of new real estate projects were developed here, pushing property prices to an average of $9,000 (VND200 million) per square meter.

Christophe Saune, director of Poralu Marine, a marina construction and consulting firm, estimates that amenities in marinas can add up to 20 percent value to nearby real estate.

Asia, especially Southeast Asia, a new destination for the world's billionaires, grasps this trend and is developing its yacht cities.

Currently, despite its huge number of millionaires and billionaires, Asia has few marinas.

But Reuters reports that marina developers, especially in Southeast Asia, are building piers to berth the large yachts of the rich.

Several yacht cities are being built in Thailand, Malaysia, Hong Kong, and Singapore.

Viet Nam, a new destination for superyachts

As one of the leading countries in terms of growth in the number of the super-rich (to reach 31 per cent growth in the next 5 years, according to Knight Frank), Viet Nam is an obvious place to make plans for marina development.

With the advantage of a 3,260km coastline and many deep and sheltered bays, Viet Nam has humongous potential for the development of yacht bay cities.

Phan Thiet – Mui Ne possesses many advantages in terms of landscapes to develop a marina. — Photo Courtesy Binh Thuan newspaper

Besides, coastal cities such as Nha Trang and Phan Thiet also have advantages such as beautiful landscapes, white sandy beaches and a comfortable tropical climate.

If planned well, the yacht bay cities will help develop the regional tourist economy because the international facilities associated with yachts will create a vibrant and bustling area with amusement options to attract guests 24 hours a day.

Recently Novaland announced plans to invest in NovaWorld Mui Ne - Marina City.

It is positioned as the ‘City of Yachts Bay - An International Destination.’

Marina City targets global standards to meet the elite’s demands. To achieve the goal, NovaWorld Mui Ne - Marina City must offer unique value in terms of both landscapes and utilities.

The NovaWorld Mui Ne – Marina City project by Novaland

NovaWorld Mui Ne - Marina City will spread over 680 hectares, with 80 hectares earmarked for an international marina capable of berthing 1,000 yachts.

This place will boast many typical natural attractions of Mui Ne - Binh Thuan such as natural forests and red hills and canyons on a blue coast with more than 100 high-class tourism - resort - experience facilities and marine sports for residents and visitors.

Developed by a leading and prestigious brand, NovaWorld Mui Ne - Marina City is expected to help raise Mui Ne to the same levels as super luxury resort paradises in the Mediterranean and make it an international yacht bay city.

Comments (0)