Wed, 07 Jun 2006

Investors invited to develop mega resort complex in Bali

The Jakarta Post, Jakarta

A Bali-based developer PT Bali Pecatu Graha (BPG) is offering 124.5 hectares of land to investors to support a mega property project valued at more than Rp 3 trillion (US$333 million) on barren Pecatu Hill in Jimbaran, in the south of the island.

BPG finance director A.R. Sofyan said Tuesday that the land would be developed for exclusive residences, international standard hospitals and schools, shopping malls, a 15,000-person capacity convention center, and recreation places, including theme and water parks.

These properties would be part of a 400-hectare Pecatu Indah Resort that would also include luxury hotels and an international standard golf course, planned to be finished in 2016, he said.

"We have provided 52 hectares land for the development of residential houses, 32 hectares for public facilities, such as schools and hospitals, and 40.5 hectares for entertainment sites," he said.

He added that investors could buy the 52 hectares allocated for houses or establish joint ventures with BPG in developing the 32 hectares for public facilities.

"For the remaining 40.5 hectares, we actually wish to construct entertainment facilities ourselves but investors are welcome to get involved," he said.

As of June, six companies had shown interest in making a total investment of about Rp 1 trillion for various facilities, he said.

He said PT Asia Pasifik Property planned to construct a five-star hotel on 11 hectares, PT Panorama Development Utama exclusive villas and condo-hotel on 3.5 hectares, PT Luminary Wira Bhakti-Westin Group a hotel on 6.5 hectares, PT Klapa New Kuta Beach an entertainment area on 3.8 hectares, PT Cupumanik Griya Permai a high end residential complex on 17 hectares, and PT Intra Golfink Resort an 18-hole championship golf course on eight hectares.

BPG president director Made G. Putrawan said that his company was providing an incentive in the form of basic infrastructure for investors interested in getting involved in the project.

"The area already has electricity, main roads, water supply, a communication network, and 24-hour security system," he said, hoping that the established infrastructure would help speed up the realization of the project.

He said that the company had spent Rp 600 billion on infrastructure.

"We hope that this project will help reinvigorate tourism in Bali," Made said.

According to Made, BPG had prepared the master plan for the project in 1998, but due to the Indonesian economic crisis and the two bomb attacks on the island, the company only started to implement it earlier this year.(09)