This was announced through a tender document issued last Friday to invite interested developers to bid on the project.

The document indicated that the pier park “intends to undertake the development of a multi-use luxury boutique hotel, leisure and entertainment facilities, including supporting infrastructure to complement the existing park facilities and soon to be developed mega-yacht facility”.

The project is “envisaged to be developed [using a] public-private partnership format,” the document further said.

The development is expected to include — among other things — an upscale boutique property comprising of 20 to 25 rooms, a globally recognized management brand, luxury amenities and services, a full business centre including meeting rooms, and conference facilities to accommodate 200 to 350 persons.

“The developer selected through the bid process is required to undertake planning, detailed engineering and designing, financing, construction, marketing and operation, and maintenance of the proposed project,” the invitation document indicated.

Fulfilling a demand

Meanwhile, the development is said to have been proposed to meet a need for hotel and conference space facilities in the territory, creating availability of quality tourism products in the region, and to service the mega and superyacht sector.

“All these contribute to make the [pier park] a promising location for promoting business tourism and the other facets of tourism such as mega yachts, heritage, etcetera,” the aforesaid document noted.

An expression of interest meeting and site visit at the Pier Park’s conference room is scheduled for 11 am on Monday, October 21. The deadline for submission of bids is December 2 at noon.

Requirements

Interested parties must also have experience in the development and/or construction of a four or five-star category or boutique or a real estate project.

Applicants should also have a minimum net worth of $10 million in the last three financial years (2016 to 2019), the documents further indicated.