SINGAPORE, April 3, 2013 -- Asian hospitality chain Meritus Hotels & Resorts has signed a Memorandum of Agreement with Funtasy Island Development (FID) Pte Ltd for the management of a deluxe resort development comprising a 200-room condotel, a 230-suite hotel, and an aggregate of 413-unit villas on Funtasy Island - envisioned to be the largest eco theme park and the first gated island community in the world.

Located on Riau Islands, Indonesia and slated to open in 2014, Funtasy Island will house hotel suites and villas complementing retail, convention, dining and recreational facilities - all spread over 810 acres of pristine tropical islands situated between Batam and Singapore.

A mere 16 kilometres off the coast of Singapore, Funtasy Island will be accessible via a 20-minute luxury yacht or ferry ride from the Harbourfront ferry terminal. The island is approximately two-thirds the size of Sentosa island, with 70% of its total area being preserved as a nature sanctuary. Eco-themed activities will include aquaculture tours in the surrounding waters as well as nature trails, allowing visitors to explore the island's unspoiled environment.

Upon completion, Funtasy Island shall be the first development of its kind near Singapore, keeping holidaymakers and corporate travellers close to attractions such as Universal Studios, Resorts World, Marina Bay Sands, and Orchard Road, whilst enjoying the natural seclusion of a private island.

Speaking at the signing ceremony, Mr Chua Tian Chu, MHR Deputy CEO, commented: "We are thrilled to be partnering with Funtasy Island Development in bringing this one-of-a-kind resort development into the international limelight. Adding into the equation our signature brand of Asian hospitality and over 40 years of proven hotel management expertise, we are uniquely positioned to drive the product and service offerings of Funtasy Island's hotel and villas."

Mr Michael Yong, FID Managing Director, added: "This landmark development is our first response to the growing demand for eco-tourism, as well as the fulfillment of our very own vision of the largest eco theme park in the world - exposing more travellers to the rich and incomparable experience of natural island living. From a strategic standpoint, tapping the hospitality expertise of Meritus certainly enhances the potential of Funtasy Island to carve a formidable niche as an eco-resort destination of global standing."

Also on hand to witness the signing ceremony were Mr Ade Seohari, Chairman of Funtasy Island Development Pte Ltd, and Mr Kay Ngee Tan, Chief Architect of globally acclaimed Kay Ngee Tan Architects who were behind the design of Funtasy Island.

For more information on Meritus Hotels & Resorts, visit www.meritushotels.com. For more information on Funtasy Island Development Pte Ltd, visit www.funtasyisland.com

About Meritus Hotels & Resorts
Meritus Hotels & Resorts is the hospitality division of Singapore Exchange-listed Overseas Union Enterprise Limited (OUE) which is amongst the key property players in Asia, and one of the few integrated developers in Singapore boasting a complete portfolio of prime assets across the retail, commercial, residential, and hospitality sectors.

As an award-winning hospitality brand, Meritus is synonymous with Asian hospitality and heritage, with luxury properties strategically located in key cities and idyllic resort destinations in Singapore, Malaysia, Indonesia, and Mainland China. Its current portfolio includes the flagship Mandarin Orchard Singapore, Marina Mandarin Singapore, Meritus Pelangi Beach Resort & Spa Langkawi, Meritus Surabaya City Centre, Meritus Mandarin Haikou, and Meritus Shantou China.

Meritus Hotels & Resorts was recently awarded the Most Popular Heritage Brand by Singapore Prestige Brand Awards 2011.

For more information and to enjoy Best Rates by Meritus, visit www.meritushotels.com.