BANGKOK, 23 February 2016: Minor Hotel Group has formed a 50/50 joint venture with Indonesia-based PT Wijaya Karya Realty to build a USD 41.4 million resort due to open in 2019.
The new-build Anantara Ubud will offer 70 units including suites and pool villas, restaurants, a bar and pool lounge. In addition, 30 Anantara branded residences will be developed within the resort.
Bali is one of Southeast Asia’s top tourist destinations, with arrivals growing annually over the past decade. The popular town of Ubud is located in the island’s uplands and is well-known as the centre of Balinese culture and home to many of the region’s artisans.
In addition, there are currently two further properties under development which will see the debut of MHG’s AVANI and Oaks brands to the island.
Minor Hotel Group (MHG) is a hotel owner, operator and investor, currently with a portfolio of 145 hotels in 22 countries across Asia-Pacific, the Middle East, Africa, the Indian Ocean, Europe and South America.
PT Wijaya Karya Realty (Wika Realty) is an Indonesian subsidiary state-owned enterprise that its business as a property developer with a portfolio of 16 apartments and condotels as well as 19 housing estates under its brand ‘Tamansari’. In addition, Wika Realty also undertakes property management business and has managed 30 properties in 14 cities in Indonesia.