Bali Mega Property Project Commences: Jimbaran, Bali

By Wombat | May 30th, 2006 | 1 Comment »

After six years of delay, PT Bali Pecatu Graha (BPG) has started work on the major Pecatu Indah Resort real estate development on a 400-hectare site on barren Pecatu Hill in Jimbaran, south of Bali according to a report in today’s Jakarta Post.

The development will give new hope to both the property and tourism industries in Bali, which have been in the doldrums following terrorist attacks on the island’s main tourist centers in October 2002 and October 2005.

“We have invited a number of potential investors to develop a diverse range of real estate projects, including luxury hotels, an international standard golf course, a convention center, shopping malls, a theme park, a world-class hospital and a school on the 400-hectare site,” BPG president director Made Putrawan said in a recent interview with The Jakarta Post.

Previously slated to begin in l998, originally the project was supposed to have covered 650 hectares. This, however, has now been reduced to 400 hectares.

The project will take around 15 years to complete. “The first stage of the project involves the building of the basic infrastructure, which will cost around Rp 100 billion,” he said.

The completed project will comprise an 18-hole golf course, a 15,000-capacity convention center, a theme park, a water park, shopping malls, exclusive residential areas, luxury resorts and villas, stylish restaurants and entertainment centers, a hospital and an international school.

The ambitious project has attracted a number of investors, including the Rekso Group (owner of Sosro). The group plans to build a luxury hotel on an 11-hectare site. “The planned hotel will be devoted solely to the top end of the market,” he said.

PT Intra Golflink Resorts is currently developing an 85-hectare golf course.

Budi Santoso, an executive of Golflink Resorts, said that the golf course will be completed by 2007.

“This development will serve as a magnet to attract people to Bali,” Budi said.

In addition, the Westin Group, through PT Luminary Wira Bhakti, will construct a five-star hotel in the area.

Meanwhile, PT Panorama Development Utama is currently developing exclusive villas and a hotel.

Entertainment centers will be developed by PT Klapa New Kuta Beach, while the construction of residential areas will be undertaken by PT Cupumanik Griya Permai. The basic concept of this integrated property project is to combine the glitter of Kuta, the artistry of Ubud, and the opulence of Nusa Dua.

For Bali, which is currently desperate for visitors and investors, such a large-scale project holds out the hope of economic revival.

“We hope to create more jobs and to employ at least 1,000 local workers,” explained A. R. Sofyan, BPG’s finance director.

Putrawan said that business at this time of the year in Bali was very slow. The majority of five star hotels and property developments are suffering from a lack of demand, with the average hotel occupancy rate now running at below 40 percent and real estate sales languishing.

“But, we are optimistic that Bali is heading toward a recovery and we have to be ready when this happens,” Putrawan said.

Rita Widiadana, The Jakarta Post, Jimbaran