TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

Chinese-Backed 3,000 Unit Bali Condo Stirs Protest

Category: Real estate, Posted:24 May 2017 | 06:00 am

A planned 3,000 unit condo hotel in Bali is creating waves with local residents on the Island of the Gods.

According to Nusa Bali local government officials are closely examining the project, as the resort island grapples with a rapidly urbanizing landscape.

The site is located in Sawangan, next to the luxury St. Regis hotel and near to the tourism enclave of Nusa Dua.

Chinese real estate conglomerate Country Garden Group has paired up with an Indonesian property owner PT Surya Gardenia Propertindo for the project.

Country Garden has been pushing beyond their home back in Guangdong Province with massive developments in Australia and Malaysia.

According to sources the group is currently preparing a push in Thailand, which is strategic given their large base of buyers on the Mainland who are the country’s largest overseas tourism market.

Press reports have stated that hospitality group MGM will brand the condo hotel.

Country Group’s large-scale Malaysian development in Johor state near to Singapore has been in the news recently given issues with Mainland Chinese buyers who are unable to take currency out of the country to Malaysia to make real estate installment payments.

A recent report in the Straits Times said that many property buyers were using UnionPay credit cards to make installments with developers but that the issuer was set to restrict this practice.

The clampdown on exporting currency has created a crunch in many international projects that cater to the Chinese segment and capital controls continue to squeeze investor’s appetite to invest abroad.

As for Bali’s reaction to the giant footprint of a mass-market condominium, expect the great debate on Asia’s surging tourism footprint to continue.

 

Other News

Read more

C9 Hotelworks Releases New Phuket Hotel Market Update Report

Category: Hotels|Tourism, Posted:16 Mar 2023 | 00:29 am According to C9 Hotelworks new Phuket Hotel Market Update 2023, the resort island’s tourism recovery has accelerated over the past six months. With the removal of Thailand’s pandemic travel restrictions in 2022, airlift quickly ramped up as India and Malaysia were key early source markets. Over the current winter season aside from the return of […]
Read more

Destination Ink Radisson For Patong Hotel

Category: Hotels, Posted:12 Mar 2023 | 23:16 pm Phuket’s hotel brand conversion trend is continuing, with the latest move having Radisson sign a deal for a 390-room hotel in Patong. Owned by the Destination Group, the property will be branded as a Radisson. This is the fourth recent conversion by Destination with one more Radisson and two Holiday Inns by IHG. Expect more […]
Read more

Hilton Phuket Arcadia Reflagged To ACCOR’s Pullman Brand

Category: Hotels, Posted:03 Mar 2023 | 07:35 am One of Phuket’s largest hotels, the 662-room Hilton Phuket Arcadia Resort has been reflagged under ACCOR’s Pullman brand. The hotel, which will be named Pullman Phuket Arcadia Karon Beach Resort will operate as a Pullman effectively in April of this year, and a staggered 24-month refurbishment program undertaken. With this addition, there will be three […]
SiaJai logo

Thailand's Leading Homecare Marketplace