As expected the number of tourist arriving to Bali fell sharply after the October 1, 2005 bombings, but this has not slowed the investment flowing into this Island Paradise. Everywhere you look there is construction going on and one quickly realizes that this Island paradise is moving toward a speedy recovery.
It’s opportunity time, says Hanno Soth Director of Pt. Hanno Bali and C151 resorts, one of Bali’s major developers and construction companies. Sure, at first glance things look quieter then usual with less tourists in town, but a closer look and one can see a steady stream of savvy investors arriving in Bali . We are aware of some really big deals in the works says Soth, which will have a profound and positive impact on the Bali economy.
The banking industry concurs. According ABN Amro’s Ayu Yan Satriasih Relationship Manager – Private Banking “the Bank is very busy these days and we are seeing more transactions today, then we did before the bomb, so for us the bomb has had no negative affect, we also did not see the Rupiah weakening immediately after the October attacks which shows the confidence the international markets have in the our economy.
There is also a genuine confidence coming from the Mayors office. The private sector, local communities, police and the various branches have come together in the past months to make sure we are doing everything we can, so that this kind of thing does not happen again, says Drs. I Ketut Sudikerta Vice Mayor of Bali. We have very organized communities who are now watching for any irregularities and making sure all outsiders living there have bona-fide reasons to be in Bali especially in tourist designated areas. With new security protocols in place, Bali will be safer then most popular tourist destinations, which have not been forced to take implement such security measures. Many investors and visitors are already commenting about the positive changes and we hope it won’t take long for the word to spread that Bali has taken the necessary steps to protect it’s tourists says Dr. Sudiderta. The next time you visit Bali you will see a greater presence of tourist police charged with serving and protecting Bali’s visitors.
Much to their credit, Indonesian authorities with the help from foreign Anti-Terror Special Forces recently tracked and killed the master mind of the Bali bomb Azahari bin Husin. There were no back lashes during the Christmas and New Year holidays. A number of Foreign travel advisories to Indonesia are due to be lifted in the near future and we expect things will get back to normal, says the Chief of the Bali Tourism Authority (BTA) Gede Nurjaya.
According Ginn Lai Regional Director International Properties, Colliers International’s Hong Kong office, we expect 2006 to be a strong year for sales of lifestyle properties in Bali. Phuket after the Tsunami last year is a good example of a market bouncing back quickly because of excellent investment opportunities. Many of our clients have a strong affinity for Bali and there are some fantastic projects available on the market at discounts. This coupled with the fact that the Bali real estate market appears to be maturing and international players are once again entering the market.
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