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Several foreign investors have started to realize their investments to the Kura Kura Bali Special Economic Zone (KEK) in Serangan Island, Denpasar City, Bali.
PT Bali Turtle Island Development (BTID), the SEZ area operator, noted that there were three foreign investors who had signed memorandums of understanding (MoUs) to invest in Kura Kura Bali SEZ. First, Mitsubishi Group subsidiary Mitsubishi Estate Co. Ltd. The company followed earlier Japanese foreign investors that has pursued contruction projects across the island, including marinas, promenades, housing, and villas.
Second, Tsao Pao Chee (TPC) Group, a fourth-generation family holding company from Singapore. TPC Group has invested in the mindfulness and wellness businesses, which are integrated into the Kura Kura Bali SEZ master plan. Third, Pegasus Capital from the United States. The American company will develop a sustainable five-star hotel that combines luxury with natural balance, aiming to create a new benchmark for environmentally friendly hospitality.
The current ongoing projects in the SEZ include, among others, the construction of the premium retail Grand Outlet Bali (GOB) through a joint venture between BTID and Mitsubishi Estate, as well as the construction of a flagship school and a four-story hotel with at least 140 rooms which is planned to start operating in the fourth quarter (Q4) of 2026 or early 2027.
Although he did not mention specific realization figures, BTID Head of Communications Zakki Hakim explained that realized investments to Kura Kura Bali SEZ in 2024 had reached 75 percent of the target set by the National SEZ Council. He added that the achievement showed global investors' trust in Kura Kura Bali SEZ's vision for sustainable and impactful development.
"The achievements we have achieved confirm Kura Kura Bali's ability to deliver results while remaining committed to progress," Zakki explained to the media on Dec. 30, 2024.
The Kura Kura Bali SEZ is focused on quality tourism and creative industries. It was established by the Indonesian government in April 2023. The SEZ spans an area of 498 hectares.
