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

Phuket Lifts Travel Restrictions For Bangkok Travelers

Category: Tourism, Posted:24 Jan 2021 | 20:35 pm Good news. Phuket province has eased travel restrictions for visitors from Bangkok and Samut Prakan to the island. The move effectively removes the 14-day quarantine period. A key catalyst in the policy change has reportedly been expected high levels of travel during the Chinese New Year period next month. Travelers are still required to use […]
Read more

Go Ahead. Get Your Ya-Ya’s Out

Category: Tourism, Posted:17 Jan 2021 | 06:00 am Close your eyes. Go ahead. Remember a time when you were young. The magic as a kid, taking blankets, sheets, or even boxes and creating a fantastical tent or unique crazed getaway in the house. Letting your imagination go wild and take you on a journey to incredible places. Or pitching a tent in the […]
Read more

Is Thailand Ready For Legalized Gambling?

Category: Tourism, Posted:16 Jan 2021 | 13:38 pm Topping Thailand’s economic news are comments by the Prime Minister that he is willing to consider opening up gambling, according to the Bangkok Post. With the Thai economy struggling at funding an economic recovery process that has been under extreme duress by Covid-19, the question now will the pandemic be an accelerator of a long-lasting […]