RISE Invests IDR 1 Trillion, What Are the Prospects for the VASA Ubud Resort?

PT Jaya Sukses Makmur Sentosa Tbk (RISE) has allocated approximately IDR 1 trillion for the construction of the VASA Ubud resort in Bali. The investment is part of the company’s expansion into the hospitality sector, with the resort targeted for completion within approximately 30 months.

The project’s groundbreaking took place on Friday, 17 July 2026. The resort will be built on a 7.39-hectare site in the Ubud area, bordering the Ayung River. The company views this project as an addition to its hospitality business portfolio and a source of long-term growth.

President Director of Jaya Sukses Makmur Sentosa, Budi Agusti, stated that the development of VASA Ubud is part of the company’s strategy to expand its premium property portfolio to international standards. He noted the significant growth potential in Indonesia’s tourism sector, particularly in Bali.

VASA Ubud is designed as a low-density luxury resort to ensure guest privacy. It will feature 41 private villas and 128 sanctuary-style hotel rooms, with room sizes starting from 48 square metres. The architectural design blends traditional Balinese cultural elements with modern sustainable concepts. The site layout is planned to resemble a traditional Balinese village integrated with the natural environment, while the villa construction follows the natural contours of the Ubud landscape through a terracing system.

The company is implementing several sustainable development principles in the project, including the revitalisation of natural waterways, a water recycling and circulation system between ponds, the use of renewable energy through solar panels, and the application of organic micro-plants on rooftop areas.

Furthermore, the construction of VASA Ubud is expected to provide an economic impact on the surrounding community through job creation and increased local economic activity, both during the construction phase and once the resort is operational.

Budi Agusti expressed optimism that the project will become a strategic asset for the company, strengthening its hospitality business, increasing recurring income, and supporting long-term corporate growth.

Jaya Sukses Makmur Sentosa is a property company listed on the Indonesia Stock Exchange since 2018 under the ticker code RISE. The company is engaged in the development and management of residential, commercial, warehousing, high-rise buildings, and hospitality properties. Based on trading data, RISE shares closed at IDR 960 per share on Friday, 17 July 2026. Over the previous three months, the share price had declined by IDR 950, or 49.74 percent, touching a high of IDR 2,380 and a low of IDR 790 before trading around the IDR 900 to IDR 960 range.

Previously, RISE expanded into the industrial estate business through the acquisition of a 51 percent stake in PT Tunas Triasa Tangguh (TTT) for IDR 57.578 billion. This acquisition, conducted through its subsidiary PT Millenium Mega Mulia, serves as the foundation for the development of Tanrise Industrial Park Palembang in Ogan Ilir Regency, South Sumatra. The move marks a strategic shift for the company, which has traditionally been known as a property developer, as it seeks new growth sources beyond its existing residential, commercial, and hospitality lines.