Bali the place to be, not only for a holiday but property investment, says OXO Living boss
Bali was once a wild west for residential property investment but Johannes Weissenbaeck’s OXO Living aims to raise the standard of buying on the Indonesian island paradise.
Fresh from the one-day sellout of 40 freestanding luxury villas to a range of Australian, Singaporean and Indonesian buyers, developer Johannes Weissenbaeck has an even more ambitious project to launch in Bali’s emerging destination of Nyanyi, starting Saturday.
Bali was once known as a wild west for residential property investing but Mr Weissenbaeck argues that the so-called island of the gods is coming of age, and is now flooded with global citizens who are keen to invest in residential projects because of the solid returns, work opportunities, and influx of professional managers entering the market.
“If you have an appetite for opportunity and possibility, Bali is a good place,” said Mr Weissenbaeck, founder and CEO of the Bali-based OXO Living.
“Bali is on the cusp of becoming a professional investment market.”
Since arriving in Bali 11 years ago after building a successful marketing business in Sydney, Mr Weissenbaeck has developed more than 20 projects – from villas, to townhouses, to a purpose-built US-style pleasure boat which plies the waters off the pink sand beaches around Komodo Island, near where he has purchased land for a resort which he will launch next year.
But on Bali, Mr Weissenbaeck is banking on the popularity of the Nyanyi village where the 40ha Nuanu City is taking shape, 6km from Tanah Lot.
It is here he plans to build a luxury 24-villa complex called The Pavilions, which taps into the wellness theme which is sweeping the world of property development, growing at an astounding 18 per cent. He has also included a central steam room, a multifunction wellness studio, ice baths, and an indoor hydrotherapy pool as extras for villa owners.
Villas in the The Pavilions residential development start at just under $US500,000, rising to around $US1m, and residents will also have access to a range of onsite wellness facilities, from ice-cold baths to IV drips, stretching classes and saunas.
Offering three, four or five bedrooms, The Pavilions villas each have unique layouts, with the entire complex designed by architect Chris Precht to resemble a traditional Balinese village.
Residents can also tap into additional services at The Pavilions and depending on the size of their villa purchase convert one room into an office, a sauna, a steam room, TV room or their own personal gym.
“We have tried to design something that feels like it has been there forever,” said Mr Weissenbaeck, adding that the project was inspired by traditional Balinese family compounds.
“Nobody has done anything like this before in Bali. This is taking the design back to the earth, the spaces are naturally ventilated, we have double layered rattan roofs, and natural earthy floors.”
Russian-backed Nuanu Creative City is sprawled across a 44ha site with a newly opened luxury boutique hotel, the 11-room Oshom boutique hotel, schools for both child and adult learning, as well as cultural, education, hospitality, the Lumeira Wellness Spa owned by Jasper Sceats, and entertainment facilities such as the cliffside Luna Beach Club right above the highly photogenic Nyanyi Beach. Only 30 per cent of the 44ha site will be developed.
Mr Weissenbaeck predicts it will take two years to finish The Pavilions, with completion slated for September 2027. All villas come with their own private swimming pool.
Mr Weissenbaeck said many of his buyers were repeat purchasers from Australia, Asia and Europe. “We have people who have bought three villas, we have Australians as well as Swiss and Chinese buyers,” he said.
Apart from his plans to develop a 300-key hotel at Nusa Lembongan, he has also optioned sites at Ubud and Sanur on Bali for more luxury residential developments.
The writer was a guest of OXO Living.
Originally published as Bali the place to be, not only for a holiday but property investment, says OXO Living boss
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