The Triton

News

Investors say Phuket marina owes us

ADVERTISEMENT

A group of 25 investors in Yacht Haven Marina in Phuket, Thailand, have begun an Internet campaign to raise awareness to the fact that they have invested in the redevelopment of the marina project 17 years ago but have neither received their condo units nor been refunded their money.



The Yacht Haven Buyers Action Group claims its members invested up to 40 million baht in the project — which calls for a 300-berth marina, condos and a clubhouse — for units in the first phase of development. When the units didn’t materialize, the investors wanted their money back. With signed contracts detailing repayment if the units were not delivered, they won in court, but a second legal action was overturned and is on appeal.



They have circulated several e-mails to media and active yachting industry leaders to share their plight. In today’s terms, they say they are due about 120 million baht ($3.8 million).



The marina has been in the news lately as the potential site for a superyacht charter show run by the organizers of the Singapore Yacht Show, originally expected in the fall but now pushed back to mid-February 2015.



Show organizers said they hope the new dates will allow the developers time to complete existing work. They claim an additional 20 or 30 superyacht berths are under way, meaning that the show will be able to accommodate between 50 and 70 superyachts at the event – a capacity that will, if the marina is finished, be unmatched anywhere else in Asia.

Share This Post

Leave a comment

Your email address will not be published. Required fields are marked *

Please answer the question below to leave a comment. * Time limit is exhausted. Please reload CAPTCHA.

Editor’s Picks

Triton Expo is Oct. 12

Mid-October is time for The Triton’s biggest event of the year, our fall Triton Expo. This year, we’ve gathered about 50 businesses to …

Women just do their jobs in yachting; rooming, agencies and hiring could improve

Women just do their jobs in yachting; rooming, agencies and hiring could improve

When we decided to gather a group of women for a Triton From the Bridge lunch, it sounded like a great idea, but as soon as we all sat …

Doors, power, access surprise firefighters and crew in yacht training

Doors, power, access surprise firefighters and crew in yacht training

As part of the fire team on M/Y Archimedes, Bosun Max Haynes knows how to fight fire onboard the 222-foot (68m) Feadship. But he was …

Crew Unlimited and ICT in Ft. Lauderdale join with Bluewater in Europe

Crew Unlimited and ICT in Ft. Lauderdale join with Bluewater in Europe

Crew, employees, industry expect opportunities as European and U.S. companies partner to expand yacht crew training, …

Events