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Asian luxury lifestyle resort developer mc² has identified Singapore as its next key real estate market.
The Bali-based group has opened a regional sales and marketing office at 7 Amoy Street, Far East Square Singapore for its latest project, Outrigger Panorama Bali Resort and Spa.
As a privately-owned company with over 25 years development experience, mc² specialises in upscale villas, studios and condominiums in Asia.
This is its first move into the Singapore market.
“Notwithstanding the recent appreciation in land values, prices in Bali are still well below those now seen in markets such as Phuket; and with
Singapore’s close proximity to Bali at only 2.5 hours away, it makes it an ideal investment choice. Our research into the Singaporean market
shows there is a strong interest in second homes overseas and owning the financial wherewithal exists to be able to forge ahead with
purchases. Already a significant proportion of Singaporeans own property overseas,” said Richard McCandless, Director mc².
The
Outrigger Panorama Bali, due for completion in early, is a US$70 million five-star condominium resort featuring 176 luxury
oversized apartments, all with large outdoor terraces and most with private pools, on the southern tip of Bali’s Bukit Peninsula.
It will be managed by US-based Outrigger Hotels & Resorts, one of the world’s leading resort
operators. The project will feature one and two
bedroom condominiums as well as studio apartments and six duplex penthouses of 3,583 square feet, priced from US$230,000 to US$1,265,000
with leases of 70 years.
Owners will enjoy 28 days personal usage a year, with the remaining 337 days rented to earn a healthy return. An attractive return of six per cent
is guaranteed for the first three years.
Subsequent returns are forecast to be in the range of
9/10%. Investors will receive a proportional share of generated
income of the resort, regardless of the occupancy rate for their individual apartment.
Through mc²’s strategic alliance with AAA Venture Fund, all developments are financially resourced. This coupled with established relationships
with global hotel and resort operators, means buyers and professional investors can maximise their investment potential with minimal
transaction risk.
“The concept represents a superior ownership package, melding investment, service and lifestyle benefits with first-class facilities to suit all the
family,” said Managing Director Grant McArthur, a qualified accountant with over 25 years experience in luxury hotels and property.
“A second home can become a true investment with returns that include capital gains, a guaranteed income and free five-star accommodation
for holidays. This is something we have identified Singaporeans are keen to explore.”
The group has completed a number of successful projects in Bali based on a unique package of investment, service and lifestyle and will soon
add properties in Phuket and Koh Samui in Thailand.
As part of the its ongoing expansion across the region, mc²
will also open offices in Bangkok, Tokyo and Jakarta and also participate in the
upcoming Shanghai Expat Show, from 19-21 September at the Shanghai Exhibition.
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