European investors confident in Bali’s market
Posted on January 22, 2008
Filed Under Villas
Living in Bali and moving around Seminyak, Oberoi and Canggu we can see the investment climate for small and medium sized businesses is regularly expanding. With international standard restaurants, clothing boutiques and new service businesses appearing often. As a resident these and other locally owned businesses are a welcomed addition to our living standards. Increasing both the variety of activities and services available for tourists and residents to enjoy.
We are witnessing investor confidence and a commitment not only of initial capital but also energy, time and optimism are being invested in Bali. Bali is a dream for many, whether form neighbouring islands and cities in Indonesia to new European residents from England, Spain, Germany, France and most other countries. Brought here by a common love of both the strength of culture experienced through living with the local Balinese people and the business opportunities which can be accessed relatively inexpensively by international investors.
Bali is changing and the demographic of travelers is becoming more wealthy. Evidenced by strong growth in the private and hotel villa market, these visitors are choosing to stay in elegantly furnished villa’s with 5 class amenities and services. The demand is shifting from a market of bargain hunters and hippies to a more discerning audience who choose to enjoy the natural cultural heritage of Bali whilst also sampling the more sophisticated atmosphere and professionalism which is becoming more widely available through the efforts of foreign small business investors.
One such business opening soon, is ‘Barocco’ in Jalan Raya Seminyak-Basangkasa. Visible from Jalan Sunset, a major road linking the International Airport and trendy Seminyak-Oberoi. This Business was created by Fabio and Piero Vescina. Originally from Lecce in furthest east coast of Italy, known for it’s art and cultural heritage. Their business is a conceptual masterpiece and a step into the future of business development in Bali.
They have brought three esteemed Italian Chef’s to Bali for creating an exquisite array of traditional and modern Italian pastries and finger foods. Mirko Palmieri renowned for his ‘jewellery pastries’ in Rome has created a banquet of new flavors soon available in Bali. An enticing fusion of flavors, colors and textures all in bite sized pieces.
Their visage is a modern urban structure which contrasts contemporary design and baroque furniture and gardens. They have created a strong physical impact on the Seminyak landscape. The building is a closed glassy structure which is immediately noticeable for it’s urban flavour and large manicured garden, a miniature reproduction of the Versailles court gardens which typifies their baroque cultural heritage.
Combining many years traveling experience internationally it was a rational business decision which brought them to Bali to create a space where art, quality music and culture come together. They predict that Bali is changing from a village to an international big city and they see themselves as pioneers of the new urban architecture.
Balinese traditions
Fabio believes that to be successful and enjoy Bali, it is necessary to be in balance with the local Balinese traditions. He has a deep respect for working with the Balinese people and the spiritual energy noticeable here. Both businesses featured here chose to open for business on a day which would be suitable for their initial blessing ceremony according to Hindu tradition.
The focus for future art exhibitions at Barocco will be highlighting local art, photography and ancient handcrafted techniques. Their library includes imported books on lifestyle, fashion, art and culture from Europe, Japan and the US. Their musical genre is underground jazz and their dream is to help residents in Bali keep up to date with international western culture and soul through music, books and foods. This is a quality living offer. My advice, when in Bali, taste the difference for yourself. Online you can sign up for their cultural newsletter by visiting www.baroccobali.com.
Another joint venture is Satria Bali Real Estate, recently opened in the heart of Seminyak, upstairs from Bahiana, a popular salsa bar in Dhyana Pura Street. The entire 1,400 sqm, 2 storey, multi purpose commercial building highlights the capabilities of Eddy Lapergue as a building contractor in Bali. The first 10 days of business in this new year have already brought them multiple sales. Proving that opening a new business in Bali is a wise choice if you are prepared to work hard and establish your physical presence in a desirable area such as Seminyak. Their plan has come together over the last two years. Having experience in property contracting work Eddy has set up a large modern office space on the 2nd and 3rd floors of the building. Marco considers himself the deal hunter, and regularly brings investors new listings. Land sales are rapid and often clients are surprised to find that the land they were looking at has already sold by the time they enquire for the second time.
Satria Bali Real Estate offers a full range of properties available in Bali from local villa’s with pricing in Indonesian IDR950 million to a luxury private home built in a contemporary style with elegant modern furniture and fittings with an asking price of US$2.1 million. This joint venture offers after hours service and multiple languages. With over 20 years experience doing business in Indonesia they offer property services in English, French, Italian, German, Spanish and Indonesian.
When asked why they are successful at helping international investors purchase property in Bali, they answered: “Where else in the world can you double your money in two years? Bali is safe, quiet, peaceful with incredible scenery and a great lifestyle. We see many people arriving here to live who also plan to open businesses. Business in Bali is good and the growth potential is expanding every year,” says Marco Garcia. To view their properties visit www.satriabalirealestate.com.
Fabio Vescina believes that Bali is the only ‘Island of the God’s’ in the world and the energy which can be felt here is rarely found in other locations globally. He has noticed that Bali has been subjected to a fast invasion of international tourism and western culture, yet the Balinese traditions were strong enough to balance out this development.
He counsels those who are considering opening a business in Bali to be patient with the local people and remember to learn their rules as it is the foreign investors who must understand the local traditions and ways of working and be open to them. He hopes that 2008 will attract more visionaries who want to open a business with genuinely new ideas which can be constructive and meaningful to Bali and the many people who love Bali and choose to live and holiday here.
For more information please contact Miranda More (bliss@balipropertyinvestment.com).
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