PT Bintan Resort Cakrawala, an integrated resort developer, over the weekend launched a new 1,300 hectare resort development site on Bintan Island, already attracting US$32.99 million in transactions from a host of investors and partners.
Bintan Resort Cakrawala has sold up to 300 hectares of land on the site to 12 investors, including Sahid Group, Alila Hotel, Ayako Corporation Pte Ltd and Polo retail.
Named Lagoi Bay, the site will feature international standard resorts, residences, shopping outlets, restaurants, entertainment venues and water sport facilities.
"We will develop Lagoi Bay to become a world-class resort," said Bintan Resort vice president director Chin Chow Yoon.
He said the company had developed access for transportation from the site to the main road in Lagoi, as well as telecommunications, water and electricity.
"Sahid is allocating around 10 hectares of land in Lagoi Bay for its resort development," he said.
President director of the Sahid Group, Yanti Sukamdani, said the group considered Lagoi and Bintan as a whole ideally situated for attracting foreign tourists, especially from Singapore.
"Bintan offers nature tourism which Singapore doesn't have," Yanti said.
"Tourists in Singapore usually spend three days on average to explore the country. They might want to spend more days on different tourism attractions in nearby countries, such as (Indonesia's) Bintan."
More than 10 million foreign tourists visit Singapore every year, as compared to 320,000 foreign tourist arrivals in Bintan.
Regent of Bintan, Anshar Ahmad, said around 70 percent of Bintan Island's revenue, or around Rp 60 billion ($6.48 million) per year, come from the Lagoi tourism area.
"With further development within the Lagoi area, the local administrator of Bintan is expecting to receive Rp 30 billion more per year," Anshar said. (rff)