Indonesia does not currently have a specific condominium law, which has restricted development on Bali to mostly villas. Although Bali condo projects are becoming increasingly common, many buyers still opt to buy a plot of land and build an individual villa on it. There are however, a number of condominium developments available for foreigners set on this option. One such project is the luxury Outrigger Panorama Bali Resort & Spa. Set on Bali’s southern Bukit Peninsula on a cliff top location overlooking the Indian Ocean with neighbours such as the new BVLGARI, Alila and Banyan Tree resorts. The US$45million development, conceived and developed by Bali-based resort developers, mc², will be managed by Hawaiian-based hotel operator Outrigger Hotels & Resorts.
The resort will comprise 176 spacious studios, one, and two and three bedroom condominiums; including six duplex penthouses of 2,378 square feet. Some units will come some equipped with private swimming pools.
The resort has been designed by Original Vision of Hong Kong, led by architect Adrian McCarroll – well known in the region for his award-winning work on the Samsara Resort Phuket; whilst the Interiors are the work of Singapore-based company Plum, with principal designer Lisa Garriss at the helm. Facilities at the resort will include two restaurants, both with indoor and outdoor dining terraces, a wine bar, sports bar, spa, beauty salon; fitness centre, floodlit tennis court, jogging trail, juice bar, large pool plus private cabanas set beside the secluded lower-level infinity pool. Investors get a guaranteed return of 6 per cent for the first two years and 28 days per year use of their apartment per annum.
Direct title ownership is provided for an initial period of 70 years. The project is located 20 minutes drive from Ngurah Rai international Airport and a 10 minute drive to Nusa Dua, Bali’s five-star shopping and sports district. Units are set to be priced from US$182,000 to US$1,150,000 and off-plan sales are now underway.