Transaction Completed for Anantara Ubud Bali Resort
18 February 2016
Savills Hotels is pleased to announce that Minor Hotel Group has formed a 50/50 joint venture with Indonesia-based PT Wijaya Karya Realty on Anantara Ubud Bali Resort, a US$ 41.4 million development. Scheduled to open in 2019, the new-build Anantara Ubud will offer a total of 70 keys including suites and pool villas. In addition, 30 Anantara branded residences will be developed within the resort. Savills acted as the exclusive agent for PT Wijaya Karya Realty.
Bali is one of South East Asia’s key tourism destinations, with tourist arrivals growing annually over the past decade. The popular town of Ubud is located in the island’s uplands and is well known as the centre of Balinese culture and home to many of the region’s artisans. The surrounding rainforest and terraced rice paddies, dotted with Hindu temples and shrines, are among Bali’s most iconic landscapes.
Indonesia aims for 20 million international visitors by 2020; Asian source markets make up 39% of international arrivals and this share is expected to continue increasing. Chinese visitors for example has increased year on year, up 25% from 2014. In 2015, Bali welcomed more than 4 million international tourists, an increase of10.6% per annum (CAGR) between 2008 and 2015.
Bali is recording strong increase in domestic and international visitor arrivals due to the government’s initiative in investing in transport infrastructure (Ngurah Rai Airport expansion), utilities and other projects such as the Bali Trade Center, a place to showcase Balinese goods which will start construction in 2017. Another key demand driver is the visa-free entry policy implemented in March 2015. Originally intended only for China, Japan, South Korea and Russia, the policy is currently applied to 79 countries.
Hotels, Asia Pacific
Corporate Communications Manager
+65 6415 7579