Funtasy Island Development (FID) in a news conference said the development – billed as the largest eco-park resort in the world – will have a theme park, beach club and dolphin lagoon villas. It is 16km away from Singapore, where a 25-minute ferry service will shuttle people to HarbourFront.
FID had already spent S$300 million for the development of the island since 2010, media reports said.
The project is set for a soft launch by the end of Q1 2016 and will feature a resort hotel developed in partnership with Louvre Hotels Group.
Meanwhile, Funtasy Island villas are offered at around S$750,000. However, FID revealed that about 85 percent of the units have already been sold or leased.
It also noted that 70 percent of the natural environment of the island will be preserved, while the remaining 30 percent will be set aside for the construction of two hotels and 400 villas.
“Before we even started construction, we planted 4,000 mangrove trees around the island. We also worked with the local authorities to plant almost 200 coral cubes,” shared FID director Michael Yong.
While the island is currently uninhabited, it is expected to house around 3,000 visitors and 1,500 staff once it is fully functional in 2016, said FID.
Image: Artist’s impression of Funtasy Island. (Source: FID website)
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg.
