Hotel And Residential Spotlight On Bintan
C9 Hotelworks and Horwath HTL have released the Bintan Hotel and Branded Residences 2015 report. More projects are coming in the Bintan residential pipeline which have been influenced by the surging tourism market.
Bintan’s residential market has been substantially supported by the growth of tourism. In recent years, the range of residential products has expanded to meet the evolving demand of this market. The trend has moved to high-standard residential products affiliated with an international hotel operator. The key success of the leading projects on the Island is to provide a combination of good architecture and interior design as well as a strong value-for-money proposition.
Pool villas and condominium/apartment units are sold on a residential basis as a lifestyle product particularly suitable for weekend getaways. However, the market tends toward to an investment product by offering guaranteed returns in the initial years as well as complimentary stays.
For the incoming supply, Tasweek Real Estate Development and Marketing has a plan for a massive mixed-use development which is composed of a 250-key hotel, six condominium towers with a total of 840 units and 34 villas on a 26-hectare land plot. For the demand perspective, Singapore primarily remains the top target market for the residential market. Looking ahead, more regional buyers from Malaysia, Mainland China and Hong Kong become attracted to Bintan.
Due to proximity to Singapore and the value proposition of residential projects, the island’s residential market is growing. We expect that more niche residential products are also emerging elsewhere beside the integrated development on Treasure Bay and Lagoi Bay.
To download the full report, click: