December 2025 WATERLINE | 27 INDUSTRY NEWS SOUTH-EAST ASIA MARINA DEVELOPMENT NAVIGATING OPPORTUNITY IN A HIGH-GROWTH MARKET By Ekrem Reyhancioglu, Asia Pacific Director Poralu Marine At the recent ICOMIA Marina World Conference in Venice, I presented on South-East Asia Marina Market Outlook & Opportunities. Immediately after my presentation, an Australian investor approached me, and his question was simple: "I see the gap. What I don't see is how to get in." Only the month before I was in Queenstown at the New Zealand Marina Operators Association (NZMOA) Conference, I'd had nearly the same conversation with a marina group owner. Investors and operators aren't questioning whether South-East Asia represents an opportunity anymore - they are trying to figure out the practical pathways to enter the market. A MARKET STILL CATCHING UP South-East Asia stretches across 25,000 islands, with more than 130,000 kilometres of coastline and 125 million international visitors every year, yet the region operates just 60 marinas. Australia and New Zealand together have around 350. Despite having a coastline twenty times the size, South-East Asia has only a fraction of the marina capacity. Most existing marinas run near full occupancy. The AsiaPacific superyacht fleet has grown by over 40% since 2022, with no sign of slowing. Places like Phuket and Bali are no longer just beach resorts, they're becoming lifestyle destinations where mixed-use marina developments are now part of what visitors expect. South-East Asia is also a strategic crossroads on east-west yachting routes, connecting Australia and New Zealand to the Maldives, the Middle East up to the Mediterranean. Despite this position, the marina infrastructure to properly serve these passages barely exists. For Australian and New Zealand investors and marina operators, this represents something unique: a genuine supply gap in an emerging high-growth market that's geographically close. The proximity, existing economic and political ties, and proven expertise in marina development, position them as natural partners for this market. TWO WAYS TO ENTER The first is the partnership model. Across the region, more than 15 marina projects are currently under development, typically between 100 and 250 berths, many with superyacht capacity and tied to larger hospitality or residential projects. These ventures often need partners to deliver the marina component while local developers handle the rest. What's even more interesting is that there are waterfront projects being built without marinas. Many developers lack expertise. These are hospitality operators and residential developers who know their sectors well but don't know marinas. They'd welcome partners who do. Feasibility studies for projects in Labuan Bajo, Manado, and north Sulawesi in Indonesia, plus locations in Thailand and the Philippines are in progress and in each case, local owners have land, regulatory approvals, and development plans but what they need is marina expertise and capital. The second model is an integrated development, combining a boutique marina with five-star hospitality. Think of the RitzCarlton Marina in Bahrain or the Bulgari Yacht Club in Dubai. These aren't hotels with marinas attached - they're unified destinations where both elements enhance each other. In a region where tourism is booming and ultra-high-net-worth visitors are increasing, this format makes sense. It delivers a complete, premium experience. This approach demands more capital and longer timelines but offers complete control over positioning, operations, and returns. Parts of Thailand's less developed islands, certain spots in Indonesia's archipelago, and select coastal areas in Vietnam and the Philippines offer the natural setting, accessibility, and regulatory frameworks these developments need. THE CHALLENGES ARE REAL The complexity is real. The regulatory landscape varies dramatically, not just country to country, but province to province. Most South-East Asian countries don't have established marina industry associations yet. This is still an emerging segment, which means regulations often weren't written with marinas in mind. Foreign investment restrictions, environmental permitting, and land tenure - each jurisdiction has its own complications. Without proper guidance, it can be risky. But with the right advisors and strong local networks, these challenges become manageable. Solid feasibility work that maps real regulatory pathways, local partnerships that bring day-today understanding, and realistic timelines separate successful developments from stalled ones. Market entry in emerging economies takes longer, but when structured correctly, the returns justify the patience. WHAT THIS MARKET NEEDS Technical expertise, operational standards, and experience with mixed-use marina developments from established markets are what South-East Asia is seeking. Developers and government entities across the region actively look for partnerships with experienced operators. Whether considering partnership investment in marina components or fully integrated developments, the fundamentals are strong. The yacht fleet is expanding, high-net-worth populations are growing and seeking quality marina services, and tourism infrastructure increasingly demands world-class marine facilities. Success requires bringing together international marina expertise with genuine local market knowledge and relationships. MOVING FORWARD For those considering South-East Asian investment, the questions to ask are straightforward; Which pathway fits the capital position and capabilities? Which markets align with specific expertise? What partnership structures work in those jurisdictions? What does a realistic timeline look like? The opportunity exists for those willing to approach it with patience, partnership, and practical expertise.
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