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Tourism business the Panorama Leisure Group is planning to
build a boutique hotel and apartment complex in Seminyak, Bali in what
the management says is a vote of confidence in the island's tourism
prospects.
Panorama management said in a statement that it would build the
complex, the Haven Villa and Apartments, in the second quarter of 2007,
with operations expected to commence at the end of 2008.
To date, the complex, which consists of seven villas and 60 apartments
units, has been well-received, with the villas all having been sold out.
The management is now therefore focusing on selling the apartment
units, at a price averaging at US$200,000 for a one-bedroom apartment
and $340,000 to $380,000 for a two-bedroom apartment.
To attract more buyers, the group is offering a 6 percent guaranteed
rental return per annum for the first three years of operation.
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