Did you know that the Indonesian real estate market is estimated to reach USD 64.78 billion in 2024?
By 2029, it is projected to climb to USD 85.97 billion with a Compound Annual Growth Rate (CAGR) of 5.82% from 2024 to 2029.
This robust growth highlights the exceptional investment appeal of Bali, driven by the island’s continuous development. Here are some of the key most awaited projects set to further revitalise Bali’s economy, lifestyle, and tourism:
Bali International Hospital
- In collaboration with the Mayo Clinic USA, this world-class facility aims to establish Bali as a leading medical tourism destination in Southeast Asia, offering premium healthcare to private patients from Indonesia and worldwide.
- The Grand Opening is scheduled for the third quarter of 2024.
Gilimanuk-Mengwi Expressway and Port Renovation
- With an estimated cost of Rp24.6 trillion, the project is targeted for completion by 2028, though there are hopes to finish by the end of 2025.
- The construction of the Gilimanuk-Mengwi toll road is a key national project connecting Bali’s western port to the central region. Covering 96.84 kilometres, this project will enhance connectivity across the island, significantly reducing travel time.
- The renovation of Gilimanuk port is set to increase passenger traffic to 14 million annually, fostering economic growth and inclusivity by accommodating various modes of transportation.
Turyapada Tower – Bali’s New Landmark
- Scheduled for completion in mid-2024, the Turyapada Tower will boost telecommunications across northern, eastern, and western Bali.
- This 115-metre high tower will not only eliminate communication gaps but also become a high-rise tourism destination featuring a planetarium, skywalk, rotating restaurant, convention space, and a museum.
Paramount Park – A New Era in Entertainment
- Paramount Bali Theme Park, in collaboration with PT Kios Rekreasi, is set to transform the Jembrana region. Spanning 100 hectares, this park will create 20,000 jobs and attract 80% of foreign tourists visiting Bali.
- The theme park is projected to open in 2025, featuring attractions based on Paramount Pictures’ movies and TV shows, along with a zone dedicated to Indonesian culture and legends.
These projects mark a new era of growth and opportunity for Bali. With the Indonesian real estate market projected to grow significantly, now is the ideal time to invest in Bali’s dynamic landscape.
