Lombok Property And The Good News For Investors
In 2017 Indonesia President Joko Widodo included Lombok on his list of ten destinations within Indonesia that would be a “New Bali.” These destinations are the up-and-coming locations that Jokowi and his tourism ministers are hoping will be the next hot-spots for international travellers coming to Indonesia, and follow in the footsteps of Bali. They have a goal to welcome 20 million international tourists to Indonesia by the end of 2019. One of Bali’s closest neighbours, Lombok, is among the top on the list. It welcomed more than 3 million visitors in 2016 and consistently experiences growth of more than 20 percent year over year, and not even the devastating earthquake of 2018 could hinder that trend.
With the influx of tourists, comes endless opportunities for investments for real estate and developments. Lombok is currently a beautiful rugged landscape. It is much like Bali, decades ago. Tourists come here seeking to get away from the hustle and crowds of Bali. They find secluded and serene beaches, jungles and greenery, and crystal clear turquoise waters. The surf breaks and scuba spots are among the best in Indonesia, and yet, they are never overrun with tourists. Real adventurers also come to trek Indonesia’s second highest volcano, Mount Rinjani. This quiet island is a paradise, with awe-inspiring scenery and landscapes and a rich culture. In the next few years, major projects and world brands will put Lombok on the global stage, such as the Mandalika Resort Project, the MotoGP race, and the Kuta Heights Development. Those looking in the Southeast Asia property market will find a hidden gem and limitless possibilities in Lombok. It’s an untapped market, with prices a fraction of those for lands in Bali, and many factors are creating favorable conditions for returns.
Pushing efforts forward is the island’s ever-improving accessibility. AirAsia has established a new hub at the Lombok International Airport, expanding flight services to make faster connections between Indonesian islands and beyond. There are now international flights directly from Kuala Lumpur and Perth, as well as Singapore on SilkAir. Other major destinations are an easy connection from Bali or Jakarta - such as London, Hong Kong, Amsterdam, Dubai, and Bangkok. The airport itself is also continuously upgrading, with extended terminals, and new Taxi Ways and Drop Zone. The airport is just 20 minutes from the best locations on the island for property and development - in the south and along Kuta Beach.
Internally, the Jokowi administration and tourism ministry has supported efforts by pledging over $65 million, targeting the island’s potential for hosting large-scale events and conferences. And from the outside, foreign investment is already flowing in, with major developments to bring much needed infrastructure and services to the island. Mandalika Resort Project is a new destination currently in development on a 1,175-hectare plot of land in the South Lombok, Kuta region, creating an area that will be very similar to Nusa Dua in Bali. There will be 12,000 hotel rooms, with brands such as Sofitel and Club Med. There will also be a 350,000-square-meter commercial space for shops and restaurants from all around the world. Among the build, a 78-berth marina, a water park, eco-park, and a 120-hectare theme park are also planned. The Kuta area has also been chosen for a street circuit complex to host the MotoGP in 2021. This will be Indonesia’s first world-class racing event in more than two decades, and officials estimate that it will bring 150,000 spectators to Lombok. The 4.32-kilometer racetrack is a US$1-billion deal for a 15-year development by the state-owned The Indonesia Tourism Development Corporation (ITDC) and France’s Vinci Construction Grand Projects. The two companies are responsible for the build of the race track, roads and highways, and of the foundation and underground utilities system. These developments are just a few examples of what’s to come, and the time to buy property would be now, and in the up-and-coming Kuta Beach.
One real estate project that is setting expectations - and property ROI - high for Lombok and the southern region, is the Kuta Heights Development (KHD). It is a 200-lot, 27-hectare private property development, next door to the Mandalika Project, and only 20 minutes from the international airport. The location is on a hillside, just directly off a new main bypass highway. It is easily accessible. KHD is a collection of private homes and villas, within walking distance to Kuta Beach and the area’s shops and restaurants. There are plentiful surf breaks, and activities such as paragliding, diving, golf, and yoga nearby as well. Also a neighbourhood feature are lush green jungles among the Kuta Green, and uninterrupted views of sunrise and sunset. The development is the perfect setting for healing or yoga retreats, wellness camps, or corporate and private getaways. Business-minded creatives and entrepreneurs will enjoy the setting, location and endless opportunities that can be found at the KHD. At the moment, the lots are open for incredible returns. The land lots are sized from 300 m2 to 10,000 m2, while the land prices start at US $37 m2. For those wanting to build homes, the build prices start at US $700 m2.
Indonesia has very strict rules about property investment and foreign land ownership. Anyone wanting to buy land in Lombok now, should enquire with Kuta Heights Development. Not only are the 200+ lots in the best location on the island, but the staff is a team of highly-trained and experienced experts in Indonesian land and investment laws. They can guide any investor or enquirer through all questions, and necessary paperwork, permits and allowances. There is a secure HGB for construction of buildings, for foreign investors and PMA companies. They can also assist with leases for rental and management contracts for holiday stays. From the initial investment to the finished house or business, KHD has the perfect location and the best team in Lombok for every step of the process.
Contact Kuta Heights Development for more information on buying or leasing property and one of their 200+ lots in South Lombok.